The Companies Act 1989 (Commencement No. 9 and Saving and Transitional Provisions) Order 1991

Made: 4th March 1991

The Secretary of State, in exercise of his powers under section 215(2) and (3) of the Companies Act 1989[^f00001], hereby makes the following Order—

Citation and interpretation

1

• (1) This Order may be cited as the Companies Act 1989 (Commencement No. 9 and Saying and Transitional Provisions) Order 1991.

• (2) In this Order, “the Act” means the Companies Act 1989.

Provisions of Act brought into force by this Order

2

• (1) Section 126 and, insofar as it is not yet in force, section 127 of the Act shall come into force on Ist July 1991 subject, in the case of section 126, to the transitional provisions set out in article 3 below.

• (2) Part VII of the Act shall come into force on 25th March 1991 insofar as is necessary to enable regulations to be made under the following provisions of that Part:

• Section 155(4) and (5)

• Section 158(4) and (5)

• Section 160(5)

• Section 173(4) and (5)

• Section 174(2) to (4)

• Sections 185 and 186

• Section 187(3)

• Paragraph 2(3) of Schedule 21.

• (3) Insofar as it is not yet in force, section 193 of the Act shall come into force on 1st April 1991 subject to the saving provision in article 4 below.

• (4) In Part X of the 1989 Act, the repeals effected by Schedule 24 of sections 712 and 715 of the Companies Act 1985[^f00002], together with section 212 so far as relating to those repeals, shall come into force on Ist July 1991.

Transitional provisions relating to section 126 of Act

3

• (1) Notwithstanding the repeal of sections 709(2) and (3) of the Companies Act 1985, as originally enacted, by the bringing into force by this Order of section 126 of the 1989 Act, section 709(2) and (3), as originally enacted, shall continue to have effect, with the modifications set out in paragraph (2) below, to the extent that the repeal of section 709(2) and (3) by section 212(3) of, and Part I of Schedule 17 to, the Financial Services Act 1986[^f00003] has not been brought into force by Order under section 211 of that Act.

• (2) Section 709(2), as originally enacted, shall continue to have effect by virtue of this article as if the reference therein to the “rights conferred by subsection (1) of this section” was a reference to the rights conferred by section 709(1) of the Companies Act 1985 as inserted by section 126 of the 1989 Act; and the reference to those rights in section 709(3), as originally enacted, shall be construed accordingly.

Saving provision relating to section 193 of Act

4

The coming into force of section 193 of the Act shall not affect the right of any person to bring an action under section 62 of, or paragraph 22 of Schedule 11 to, the Financial Services Act 1986 in respect of a contravention occurring before section 193 comes into force.

Signed

John Redwood — Minister of State, — Department of Trade and Industry — 4th March 1991

Explanatory note

(This note is not Part of the Order)

The Order brings into force on I st July 1991 the remaining provisions of Part V of the Companies Act 1989 (“the 1989 Act”) relating to company records and related matters subject to transitional provisions. The Order also brings Part VII of the 1989 Act into force on 25th March 1991 insofar as is necessary to enable regulations to be made under the provisions specified in article 2(2) of the Order. The Order brings section 193 of the 1989 Act into force on 1st April 1991 subject to the saving provision specified in article 4 of the Order. Section 193 of the 1989 Act introduces provisions into the Financial Services Act 1986 restricting the right to bring actions under section 62 of, and paragraph 22 of Schedule 11 to, that Act.

Footnotes

[^f00001]: 1989 c. 40.

[^f00002]: 1985 c. 6.

[^f00003]: 1986 c. 60