Companies (1990 No. 2 Order) (Commencement No. 1) Order (Northern Ireland) 1991

Explanatory Note

(This note is not part of the Order.)

This Order brings into operation on 11th March 1991 certain of the provisions of the Companies (No. 2) (Northern Ireland) Order 1990 (“the 1990 (No. 2) Order”).

Article 2(2) brings into operation all the provisions of Part II of the 1990 (No. 2) Order with the exception of Article 8, which relates to provisions of the Insolvency (Northern Ireland) Order 1989 which are not yet in operation, references to a body established by Order under Article 48 of the Companies (Northern Ireland) Order 1990 and references to provisions of Part V of the 1990 (No. 2) Order (Financial Markets and Insolvency).

Article 3 brings into operation, in Part IV of the 1990 (No. 2) Order (Other amendments of company law), Articles 48 to 52 (De-regulation of private companies), Articles 53 to 58 (Appointment and removal of auditors and related matters), Article 66 (Members' rights to damages, etc.), Article 67 (Financial assistance for purposes of employees' share scheme), Article 69 (with the exception of paragraph 4) (Disclosure of interests in shares), Article 71 (A company’s registered office), Article 72 (Effecting of insurance for officers and auditors of company), Article 75 (Application to declare dissolution of company void) and certain minor amendments made by Article 78 and Schedule 5. These minor amendments are those made by paragraphs 8 (Transactions with directors not requiring authorisation), 9 (Time limit for holding extraordinary general meeting convened on members requisition), 12 (Requirements for registration by joint stock companies), 14 and 15 (Exemptions from limit of 20 on members of partnership), 16 (Meaning of “officer who is in default”) and 17 (Fraudulent trading by unregistered companies) of Schedule 5. Articles 4 to 8 set out certain transitional or saving provisions relating to Articles 50, 53 to 58, 66, 69, 71 and 72 of the 1990 (No. 2) Order.

Article 10 brings into operation the provisions of Article 113 of and Schedule 6 to the 1990 (No. 2) Order which set out the repeals of statutory provisions made by that Order to the extent that they relate to the other provisions of the 1990 (No. 2) Order brought into operation by this Order on the date those provisions come into operation.