Paragraph 40 Power to make provision for employees on cessation or transfer of business (s. 247)I1

United Kingdom

(1)

Section 247 of the Companies Act 2006 (power to make provision for employees on cessation or transfer of business) applies to provision made on or after 1st October 2009 (subject to sub-paragraph (2)(b)).

(2)

Section 719 of the 1985 Act or Article 668 of the 1986 Order continues to apply—

(a)

to provision made before that date, and

(b)

to anything sanctioned in accordance with subsection (3) of that section or paragraph (3) of that Article before that date.

Annotations

Commencement

I1: Sch. 2 para. 40 in force at 1.10.2009, see art. 1(2)

Notes on Schedule 2

Modifications

C1: Sch. 2 applied (with modifications) (31.12.2023) by The Resolution of Central Counterparties (Modified Application of Corporate Law and Consequential Amendments) Regulations 2023 (S.I. 2023/1313), regs. 1(2), 6