Section 135 Orders imposing restrictions on shares.

United Kingdom

(1)

The Secretary of State may by regulations made by statutory instrument make such amendments of the provisions of the M1Companies Act 1985 F1and the Companies Act 2006 relating to orders imposing restrictions on shares as appear to him necessary or expedient—

(a)

for enabling orders to be made in a form protecting the rights of third parties;

(b)

with respect to the circumstances in which restrictions may be relaxed or removed;

(c)

with respect to the making of interim orders by a court.

(2)

The provisions referred to in subsection (1) are F2. . . , section 445 and Part XV of the Companies Act 1985 F3and section 794 of the Companies Act 2006.

(3)

The regulations may make different provision for different cases and may contain such transitional and other supplementary and incidental provisions as appear to the Secretary of State to be appropriate.

(4)

Regulations under this section shall not be made unless a draft of the regulations has been laid before Parliament and approved by resolution of each House of Parliament.

Annotations

Textual amendments

F1: Words in s. 135(1) inserted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 159(2)
F2: Words in s. 135(2) repealed (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 159(3)(a), Sch. 2
F3: Words in s. 135(2) inserted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 159(3)(b)

Marginal citations

M1: 1985 c. 6.