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Companies (Defective Accounts) (Authorised Person) Order (Northern Ireland) 1991

S.R. 1991/269 · Made 24 June 1991

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 24th June 1991

Coming into operation 1st September 1991

Whereas it appears to the Department of Economic Development (“the Department”) that the Financial Reporting Review Panel Limited is a person:—

  1. (a)

    having an interest in, and to have satisfactory procedures directed to securing, compliance by companies with the accounting requirements of the Companies (Northern Ireland) Order 1986 (“the Order”)f1;

  2. (b)

    having satisfactory procedures for receiving and investigating complaints about the annual accounts of companies, and

  3. (c)

    otherwise to be a fit and proper person to be authorised

the Department, in exercise of the powers conferred on it by Article 253C(1) of the Order and of every other power enabling it in that behalf, hereby makes the following Order:

Annotations to the whole text

Footnotes

f1

S.I. 1986/1032 (N.I. 6) as amended by Articles 3 and 14 of the Companies (Northern Ireland) Order 1990 (S.I. 1990/593 (N.I. 5))

Contents

  1. 1Citation and commencement
  2. 2Authorised person
  3. Signature
  4. Explanatory note

1Citation and commencement

This Order may be cited as the Companies (Defective Accounts) (Authorised Person) Order (Northern Ireland) 1991 and shall come into operation on 1st September 1991.

2Authorised person

The Financial Reporting Review Panel Limited is hereby authorised for the purposes of Article 253B of the Order.

Signature

Sealed with the Official Seal of the Department of Economic Development on 24th June 1991.

L.S.

A. H. McAlister

Assistant Secretary

Explanatory note

(This note is not part of the Order.)

This Order authorises the Financial Reporting Review Panel Limited for the purpose of Article 253B of the Companies (Northern Ireland) Order 1986 (“the 1986 Order”) as inserted by the Companies (Northern Ireland) Order 1990. As a consequence, that company is now empowered to apply under that Article to the court for a declaration that the annual accounts of a company do not comply with the requirements of the 1986 Order and for an order requiring the directors of the company to prepare revised accounts.

Article 253B of the 1986 Order was brought into operation by the Companies (1990 Order) (Commencement No. 2) Order (Northern Ireland) 1991 (S.R. 1991 No. 267 (C. 13)) with effect from 1st September 1991 but subject to a transitional provision to the effect that it is to apply only with respect to annual accounts of a company for a financial year commencing on or after 1st April 1990.