The Companies (No. 2) (Northern Ireland) Order 1990

Power of Department to present winding-up petition

8.—(1) Article 433 of the Companies Order (power of Department to present winding-up petition) is repealed; but the following amendments have the effect of re-enacting that provision, with modifications.

(2) In Article 104(5) of the Insolvency Order (application by Department for company to be wound up by the court), for sub-paragraph (b) substitute—

“(b) in a case falling within Article 104A.”.

(3) After that Article insert—

“Petition for winding up on grounds of public interest

104A.— (1) Where it appears to the Department from—

(a) any report made or information obtained under Part XV of the Companies Order (company investigations, &c.),

(b) any report made under Article 16A of the Insider Dealing Order,

(c) any report made under section 94 of the Financial Services Act 1986 or any information obtained under section 105 of that Act,

(d) any information obtained under section 2 of the Criminal Justice Act 1987 or section 52 of the Criminal Justice (Scotland) Act 1987 (fraud investigations), or

(e) any information obtained under section 83 of the Companies Act 1989 (powers exercisable for purpose of assisting overseas regulatory authorities),

that it is expedient in the public interest that a company should be wound up, it may present a petition for it to be wound up if the court thinks it just and equitable for it to be so.

(2) This Article does not apply if the company is already being wound up by the court.”.