The Companies Act 1989 (Commencement No. 15 and Transitional and Savings Provisions) Order 1995

Made: 20th May 1995

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

1

This Order may be cited as the Companies Act 1989 (Commencement No. 15 and Transitional and Savings Provisions) Order 1995.

Interpretation

2

• (1) In this Order:—

• “the 1985 Act” means the Companies Act 1985[^f00002];

• “the 1986 Act” means the Insolvency Act 1986[^f00003];

• “the 1989 Act” means the Companies Act 1989,

Provisions of the 1989 Act commenced by this Order

3

Subject to articles 4 to 8 of this Order, the following provisions of the 1989 Act shall come into force on 3rd July 1995, namely:—

• (a) section 140(1) to (6);

• (b) paragraph 20 of Schedule 19, together with section 145 so far as it extends to that paragraph; and

• (c) section 212 and Schedule 24 insofar as is necessary to effect the repeal of—

• (i) the word “and” at the end of section 464(5)(c) of the 1985 Act; and

• (ii) the definition of “annual return” in section 744 of the 1985 Act.

Transitional and Savings Provisions

4

The amendment made to section 463(1) of the 1985 Act by section 140(1) of the 1989 Act shall not apply to any floating charge created by a company where the commencement of the winding up of the company takes place before 3rd July 1995.

5

The amendment made to section 464(1)(b) of the 1985 Act by section 140(3) of the 1989 Act shall not have effect with respect to any provision such as is mentioned in section 464(1)(b) of the 1985 Act which is contained in an instrument to which this article applies by virtue of article 2(2) of this Order.

6

Section 464(1A) of the 1985 Act, which is inserted into that Act by section 140(4) of the 1989 Act, shall not have effect with respect to any provision such as is mentioned in section 464(1)(a) of the 1985 Act which is contained in an instrument to which this article applies by virtue of article 2(2) of this Order.

7

Section 464(3) of the 1985 Act, as substituted by section 140(5) of the 1989 Act, shall not have effect with respect to an instrument to which this article applies by virtue of article 2(2) of this Order.

8

The amendment made to section 464(5) of the 1985 Act by section 140(6) of the 1989 Act shall only have effect in any case where, on or after 3rd July 1995, a holder of a floating charge has received intimation in writing of the registration (whether that registration was before, on or after that date) of another floating charge as mentioned in section 464(5) of the 1985 Act.

Signed

Jonathan Evans, — Parliamentary Under-Secretary of State, — Department of Trade and Industry — 20th May 1995

Explanatory note

(This note is not part of the Order)

This Order brings into force on 3rd July 1995 section 140(1) to (6) of the Companies Act 1989 (“the 1989 Act”) which amends sections 463 and 464 of the Companies Act 1985 (“the 1985 Act”) relating to floating charges in Scotland. The Order also brings into force on the same date: (a) a consequential repeal made by Schedule 24 to the 1989 Act to section 464 of the 1985 Act; (b) the repeal made by Schedule 24 to the 1989 Act to the definition of “annual return” in section 744 of the 1985 Act; and (c) paragraph 20 of Schedule 19 to the 1989 Act, which inserts a new section 744A (index of defined expressions) into the 1985 Act.

Articles 4 to 8 of the Order contain certain transitional and savings provisions.

Footnotes

[^f00001]: 1989 c. 40.

[^f00002]: 1985 c. 6.

[^f00003]: 1986 c. 45.