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| Companies Act 1989 |
| 1989 c. 40 - continued
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| Companies Act Index |
Part X |
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Miscellaneous and General Provisions |
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Miscellaneous
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Summary proceedings
in Scotland for offences in connection with disqualification of directors.
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208. In
section 21 of the [1986 c. 46.] Company Directors Disqualification
Act 1986 (application of provisions of the [1986 c. 45.]
Insolvency Act 1986), after subsection (3) add
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"(4) For the purposes of summary proceedings in
Scotland, section 431 of that Act applies to summary proceedings
for an offence under section 11 or 13 of this Act as it applies
to summary proceedings for an offence under Parts I to VII
of that Act." |
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Prosecutions in
connection with insider dealing. |
209. In
section 8 of the [1985 c. 8.] Company Securities (Insider
Dealing) Act 1985 (punishment of contraventions), in subsection (2)
(institution of proceedings in England and Wales), for "by the
Secretary of State or by, or with the consent of, the Director of
Public Prosecutions" substitute "by, or with the consent
of, the Secretary of State or the Director of Public Prosecutions". |
Restriction of
duty to supply statements of premium income. |
210.(1) Schedule
3 to the [1975 c. 75.] Policyholders Protection Act 1975
(provisions with respect to levies on authorised insurance companies)
is amended as follows.
(2) For paragraph 4 (statements of
premium income to be sent to Secretary of State) substitute
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" 4. (1) The
Secretary of State may by notice in writing require an authorised
insurance company to send him a statement of
(a) any income of the company for the year preceding
that in which the notice is received by the company which
is income liable to the general business levy, and
(b) any income of the company for that year which
is income liable to the long term business levy.
(2) An authorised insurance
company which receives a notice under this paragraph shall
send the statement required by the notice to the Secretary
of State within three months of receiving the notice.
(3) Where an authorised insurance
company is required under this paragraph to send a statement
to the Secretary of State in respect of income of both descriptions
mentioned in sub-paragraph (1)(a) and (b) above it shall
send a separate statement in respect of income of each description.
" |
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(3) In paragraph 5(3) (application
of provisions of the [1982 c. 50.] Insurance Companies
Act 1982 to failure to meet obligation imposed by paragraph 4) for
"the obligation imposed on an insurance company by paragraph
4" substitute "an obligation imposed on an insurance company
under paragraph 4".
(4) In paragraph 6 (declaration and
enforcement of levies) omit sub-paragraph (4) (provision about notices).
(5) After paragraph 7 insert
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Notices under paragraphs 4 and 6
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8. A
notice under paragraph 4 or 6 above may be sent by post, and
a letter containing such a notice shall be deemed to be properly
addressed if it is addressed to the insurance company to which
it is sent at its last known place of business in the United
Kingdom." |
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Building societies:
miscellaneous amendments. |
211.(1) In
section 104 of the [1986 c. 53.] Building Societies Act
1986 (power to assimilate law relating to building societies and law
relating to companies), in subsection (2) (relevant provisions of
that Act), omit the word "and" before paragraph (d) and
after that paragraph add
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"; and |
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(e) section 110 (provisions exempting officers
and auditors from liability)." |
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(2) In Schedule 15 to the Building
Societies Act 1986 (application of companies winding-up legislation)
(a) in paragraph 1(a) (provisions of [1986 c. 45.]
Insolvency Act 1986 applied) for "and XII" substitute
", XII and XIII"
(b) in paragraph 3(2)(b) (adaptations: references to
be omitted), omit ", a shadow director".
(3) In the [1986 c. 46.]
Company Directors Disqualification Act 1986, after section 22 insert
"Application of Act to
building societies. |
22A. (1) This
Act applies to building societies as it applies to companies.
(2) References in this Act
to a company, or to a director or an officer of a company
include, respectively, references to a building society
within the meaning of the Building Societies Act 1986 or
to a director or officer, within the meaning of that Act,
of a building society.
(3) In relation to a building
society the definition of "shadow director" in
section 22(5) applies with the substitution of "building
society" for "company".
(4) In the application of
Schedule 1 to the directors of a building society, references
to provisions of the Insolvency Act or the Companies Act
include references to the corresponding provisions of the
Building Societies Act 1986.
" |
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General
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Repeals.
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212. The
enactments mentioned in Schedule 24 are repealed to the extent specified
there. |
Provisions extending
to Northern Ireland. |
213.(1) The
provisions of this Act extend to Northern Ireland so far as they amend,
or provide for the amendment of, an enactment which so extends.
(2) So far as any provision of this
Act amends the [1985 c. 6.] Companies Act 1985 or the
[1986 c. 45.] Insolvency Act 1986, its application to
companies registered or incorporated in Northern Ireland is subject
to section 745(1) of the Companies Act 1985 or section 441(2) of
the Insolvency Act 1986, as the case may be.
(3) In Part III (investigations and
powers to obtain information), sections 82 to 91, (powers exercisable
to assist overseas regulatory authorities) extend to Northern Ireland.
(4) Part VI (mergers and related matters)
extends to Northern Ireland.
(5) In Part VII (financial markets
and insolvency) the following provisions extend to Northern Ireland
(a) sections 154 and 155 (introductory provisions and
definition of "market contract"),
(b) section 156 and Schedule 21 (additional requirements
for recognition of investment exchange or clearing house),
(c) sections 157, 160, 162, and 166 to 169 (provisions
relating to recognised investment exchanges and clearing houses),
(d) sections 170 to 172 (power to extend provisions to
other financial markets),
(e) section 184 (indemnity for certain acts), and
(f) sections 185 to 191 (supplementary provisions).
(6) Part VIII (amendments of [1986
c. 60.] Financial Services Act 1986) extends to Northern
Ireland.
(7) Part IX (transfer of securities)
extends to Northern Ireland.
Subject to any Order made after the passing of this Act by virtue
of section 3(1)(a) of the [1973 c. 36.] Northern Ireland
Constitution Act 1973, the transfer of securities shall not be a
transferred matter for the purposes of that Act but shall for the
purposes of section 3(2) be treated as specified in Schedule 3 to
that Act.
(8) In Part X (miscellaneous and general
provisions), this section and sections 214 to 216 (general provisions)
extend to Northern Ireland.
(9) Except as mentioned above, the
provisions of this Act do not extend to Northern Ireland. |
Making of corresponding
provision for Northern Ireland. |
214.(1) An
Order in Council under paragraph 1(1)(b) of Schedule 1 to the [1974
c. 28.] Northern Ireland Act 1974 (legislation for Northern
Ireland in the interim period) which contains a statement that it
is only made for purposes corresponding to the purposes of provisions
of this Act to which this section applies
(a) shall not be subject to paragraph 1(4) and (5) of
that Schedule (affirmative resolution of both Houses of Parliament),
but
(b) shall be subject to annulment in pursuance of a resolution
of either House of Parliament.
(2) The provisions of this Act to which
this section applies are
(b) Part VII, except sections 156, 157, 169 and Schedule
21. |
Commencement and
transitional provisions. |
215.(1) The
following provisions of this Act come into force on Royal Assent
(a) in Part V (amendments of company law), section 141
(application to declare dissolution of company void);
(b) in Part VI (mergers)
(i) sections 147 to 150, and
(ii) paragraphs 2 to 12, 14 to 16, 18 to 20, 22 to
25 of Schedule 20, and section 153 so far as relating to those
paragraphs;
(c) in Part VIII (amendments of the [1986 c. 60.]
Financial Services Act 1986), section 202 (offers of short-dated
debentures);
(d) in Part X (miscellaneous and general provisions),
the repeals made by Schedule 24 in sections 71, 74, 88 and 89 of,
and Schedule 9 to, the [1973 c. 41.] Fair Trading Act
1973, and section 212 so far as relating to those repeals.
(2) The other provisions of this Act
come into force on such day as the Secretary of State may appoint
by order made by statutory instrument; and different days may be appointed
for different provisions and different purposes.
(3) An order bringing into force any
provision may contain such transitional provisions and savings as
appear to the Secretary of State to be necessary or expedient.
(4) The Secretary of State may also
by order under this section amend any enactment which refers to
the commencement of a provision brought into force by the order
so as to substitute a reference to the actual date on which it comes
into force. |
Short title.
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216. This
Act may be cited as the Companies Act 1989. |
| © Crown copyright 1989 |
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