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Explanatory Memorandum to Company Directors Disqualification (Northern Ireland) Order 2002

Schedule 2: Transitional provisions and savings

Schedule 2 makes provision for the transition from the previous legislation to this Order. Paragraph 2 ensures continuity of the law following repeal of Part II and Schedules 1 to 3 of the Companies Order (NI) 1989. It provides that where those provisions had specified a period of time which is running before the Order comes into operation that period of time continues to run as if the Order had not come into operation. It also provides that any rights, priorities, reliefs under the Companies Order (NI) 1989 Part II and Schedules 1 to 3, obligations, requirements, powers, duties or exemptions dependent in any way on that specified period of time shall not be affected by the Order coming into effect.

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