# Companies (1990 No. 2 Order) (Commencement No. 2) Order (Northern Ireland) 1991, Note: Explanatory note


(This note is not part of the Order.)
Article 2 of this Order brings into operation certain of the provisions of the Companies (No. 2) (Northern Ireland) Order 1990 (“the 1990 (No. 2) Order”).
Article 62 of and Schedule 3 to the 1990 (No. 2) Order (new definitions of “subsidiary”, “holding company” and “wholly owned subsidiary”) are brought into operation subject to the transitional provisions set out in Article 3. Those provisions preserve the pre-existing definitions for the purposes of the accounts of companies and certain other bodies for financial years commencing prior to 1st April 1990 (in relation to which the Companies (1990 Order) (Commencement No. 1) Order (Northern Ireland) 1990 largely preserves the law on the content of accounts prior to its amendment by the Companies (Northern Ireland) Order 1990).
Other provisions of the 1990 (No. 2) Order brought into operation by this Order are Article 64 (Membership of holding company), Article 65 together with Schedule 4 (Company contracts and execution of documents by companies) and Article 73 (Increase of limits on certain exemptions in Part XI of the Companies (Northern Ireland) Order 1986). Article 73 is brought into operation subject to a saving provision with respect to past events which is set out in Article 4.

---
Source: https://www.legislation.gov.uk/nisr/1991/153/note (the official version)
Page: https://openlegislation.uk/companies-1990-no-2-order-commencement-no-2-order-northern-ireland-1991/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.