# The Companies (Northern Ireland) Order 1986 (revoked), Paragraph 2

Extent: N.I.

(1) This paragraph has effect as regards the operation of Articles. . . 154, 155, 156 and 158 in cases where a residual interest vests in possession.
Sub-para. (2) rep. by 1990 NI 5
(3) Where by virtue of paragraph 1 any shares are exempt from Article 154 or 155 at the time when they are issued or acquired but the residual interest in question vests in possession before they are disposed of or fully paid up, those Articles apply to the shares as if they had been issued or acquired on the date on which that interest vests in possession.
(4) Where by virtue of paragraph 1 any shares are exempt from Articles 156 to 159 at the time when they are acquired but the residual interest in question vests in possession before they are disposed of, those Articles apply to the shares as if they had been acquired on the date on which that interest vests in possession.
(5) Sub-paragraphs (1) to (4) apply irrespective of the date on which the residual interest vests or vested in possession; but where the date on which it vested was before 3rd August 1983 (the date on which the Order of 1983 came into operation), they have effect as if the vesting had occurred on that date.

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Source: https://www.legislation.gov.uk/nisi/1986/1032/schedule/2/paragraph/2 (the official version)
Page: https://openlegislation.uk/companies-northern-ireland-order-1986-revoked/schedule-2/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.