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

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This is the original version (as it was originally made).

Minor definitions

111.  (1)  In this Part—

“administrative receiver” has the meaning given by Article 5(1) of the Insolvency Order;

“charge” means any form of security, including a mortgage;

“clearing house” has the same meaning as in the Financial Services Act 1986(1);

“investment” and “investment exchange” have the same meaning as in the Financial Services Act 1986;

“overseas”, in relation to an investment exchange or clearing house, means having its head office outside the United Kingdom;

“recognised” means recognised under the Financial Services Act 1986(2);

“The Stock Exchange” means The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited;

UK”, in relation to an investment exchange or clearing house, means having its head office in the United Kingdom.

(2) References in this Part to settlement in relation to a market contract are to the discharge of the rights and liabilities of the parties to the contract, whether by performance, compromise or otherwise.

(3) In this Part the expressions “margin” and “cover for margin” have the same meaning.

(4) References in this Part to ensuring the performance of a transaction have the same meaning as in the Financial Services Act 1986.

(5) For the purposes of this Part a person shall be taken to have notice of a matter if he deliberately failed to make enquiries as to that matter in circumstances in which a reasonable and honest person would have done so.

This does not apply for the purposes of a provision requiring “actual notice”.

(6) References in this Part to the law of insolvency include references to every provision made by or under the Insolvency Order, and in relation to a building society references to insolvency law or to any provision of the Insolvency Order are to that law or provision as modified by the Building Societies Act 1986(3).

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