OpenLegislation

Regulation 21 Disapplication of certain provisions of Part VII and Part VF5

United Kingdom

(1)

The provisions of the Companies Act 1989 F1or the Companies (No. 2) (Northern Ireland) Order 1990 mentioned in paragraph (2) do not apply in relation to—

(a)

a market contract which is also a transfer order effected through a designated system; or

(b)

a market charge which is also a collateral security charge.

(2)

The provisions referred to in paragraph (1) are as follows—

(a)

section 163(4) to (6) F2and Article 86(3) to (5) (net sum payable on completion of default proceedings);

(b)

section 164(4) to (6) F3and Article 87(3) to (5) (disclaimer of property, rescission of contracts, &c); and

(c)

section 175(5) and (6) F4and Article 97(5) and (6) (administration orders, &c).

Annotations

Textual amendments

F1

Words in reg. 21(1) inserted (2.2.2006) by The Financial Markets and Insolvency (Settlement Finality) (Amendment) Regulations 2006 (S.I. 2006/50), regs. 1, 2(11)(b)

F2

Words in reg. 21(2)(a) inserted (2.2.2006) by The Financial Markets and Insolvency (Settlement Finality) (Amendment) Regulations 2006 (S.I. 2006/50), regs. 1, 2(11)(c)

F3

Words in reg. 21(2)(b) inserted (2.2.2006) by The Financial Markets and Insolvency (Settlement Finality) (Amendment) Regulations 2006 (S.I. 2006/50), regs. 1, 2(11)(d)

F4

Words in reg. 21(2)(c) inserted (2.2.2006) by The Financial Markets and Insolvency (Settlement Finality) (Amendment) Regulations 2006 (S.I. 2006/50), regs. 1, 2(11)(e)

F5

Words in reg. 21 heading inserted (2.2.2006) by The Financial Markets and Insolvency (Settlement Finality) (Amendment) Regulations 2006 (S.I. 2006/50), regs. 1, 2(11)(a)