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

S.I. 1995/1352 · Made 20 May 1995

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

COMPANIES

Made 20th May 1995

The Secretary of State, in exercise of his powers under section 215(2) and (3) of the Companies Act 1989f1, hereby makes the following Order:

Annotations to the whole text

Footnotes

f1

1989 c. 40.

Contents

  1. 1Citation
  2. 2Interpretation
  3. 3Provisions of the 1989 Act commenced by this Order
  4. 4Transitional and Savings Provisions
  5. 5Transitional and Savings Provisions
  6. 6Transitional and Savings Provisions
  7. 7Transitional and Savings Provisions
  8. 8Transitional and Savings Provisions
  9. Signature
  10. Explanatory note

1Citation

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

2Interpretation

(1)

In this Order:—

  • “the 1985 Act” means the Companies Act 1985f1;

  • “the 1986 Act” means the Insolvency Act 1986f2;

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

and, unless the context otherwise requires, any expression used in this Order which is also used in Part XVIII of the 1985 Act shall have the same meaning as in that Part.

(2)

Any reference in this Order to an instrument to which article 5, 6 or 7 of this Order applies is a reference to:—

(a)

an instrument creating a floating charge which is executed by a company before 3rd July 1995, and

(b)

an instrument of alteration under section 466 of the 1985 Act which is executed by all the parties thereto before that date.

3Provisions of the 1989 Act commenced by this Order

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.

4Transitional and Savings Provisions

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.

5Transitional and Savings Provisions

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.

6Transitional and Savings Provisions

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.

7Transitional and Savings Provisions

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.

8Transitional and Savings Provisions

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.

Signature

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.