Paragraph 88A F1

United Kingdom

(1)

Section 1013 of the Companies Act 2006 (Crown disclaimer of property vesting as bona vacantia) applies in relation to property of a company dissolved before 1st October 2009 if at that date—

(a)

no period has begun to run in relation to the property under section 656(3)(a) or (b) of the 1985 Act or Article 607(3)(a) or (b) of the 1986 Order (period within which notice of disclaimer must be executed), and

(b)

the right to disclaim has not ceased to be exercisable in relation to the property by virtue of section 656(2) of the 1985 Act or Article 607(2) of the 1986 Order (waiver of right to disclaim).

(2)

In section 1013 as it applies by virtue of this paragraph the references to property vesting under section 1012 shall be read as references to its vesting under section 654 of the 1985 Act or Article 605 of the 1986 Order (or corresponding earlier provisions).

(3)

Where section 1013 applies by virtue of this paragraph—

(a)

the other provisions of sections 1012 to 1022 of the Companies Act 2006 apply accordingly, and

(b)

the corresponding provisions of the 1985 Act or 1986 Order do not apply.

Annotations

Textual amendments

F1: Sch. 2 paras. 88, 88A substituted for Sch. 2 para. 88 (1.10.2009) by The Companies Act 2006 and Limited Liability Partnerships (Transitional Provisions and Savings) (Amendment) Regulations 2009 (S.I. 2009/2476), regs. 1(3), 2(3)

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