# The Companies (Northern Ireland) Order 1986 (revoked), Paragraph 9: Date and consequences of the compromise or arrangement

Extent: N.I.

(1) The following provisions of this paragraph shall apply where the court sanctions a compromise or arrangement.
(2) The court shall in the order sanctioning the compromise or arrangement or in a subsequent order under Article 420 fix a date on which the transfer or transfers to the transferee company or transferee companies of the undertaking, property and liabilities of the transferor company shall take place; and any such order which provides for the dissolution of the transferor company shall fix the same date for the dissolution.
(3) If it is necessary for the transferor company to take any steps to ensure that the undertaking, property and liabilities are fully transferred, the court shall fix a date, not later than six months after the date fixed under sub-paragraph (2), by which such steps must be taken and for that purpose may postpone the dissolution of the transferor company until that date.
(4) The court may postpone or further postpone the date fixed under sub-paragraph (3) if it is satisfied that the steps there mentioned cannot by completed by the date (or latest date) fixed under that sub-paragraph.

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Source: https://www.legislation.gov.uk/nisi/1986/1032/schedule/15B/paragraph/9 (the official version)
Page: https://openlegislation.uk/companies-northern-ireland-order-1986-revoked/schedule-15B/paragraph-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.