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The Companies (Audit, Investigations and Community Enterprise) (Northern Ireland) Order 2005

Draft Legislation:

This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Companies (Audit, Investigations and Community Enterprise) (Northern Ireland) Order 2005 No. 1967

  1. Introductory Text

  2. PART I INTRODUCTORY

    1. 1.Title and commencement

    2. 2.Interpretation

  3. PART II AUDITORS, ACCOUNTS, DIRECTORS' LIABILITIES AND INVESTIGATIONS

    1. CHAPTER I AUDITORS

      1. Recognised supervisory bodies

        1. 3.Additional requirements for recognition of supervisory bodies

        2. 4.Arrangements to which additional requirements for recognition relate

      2. Delegation of functions of Department in relation to auditors

        1. 5.Delegation of functions by Department to new or existing body

        2. 6.Circumstances in which the Department may delegate functions to existing body

        3. 7.Supplementary provisions about delegation orders

      3. Auditors' qualifications

        1. 8.Approval of overseas qualifications for auditors

      4. Services provided by auditors

        1. 9.Disclosure of services provided by auditors and related remuneration

    2. CHAPTER II ACCOUNTS AND REPORTS

      1. Auditing of accounts

        1. 10.Auditors' rights to information

        2. 11.Statement in directors' report as to disclosure of information to auditors

      2. Defective accounts

        1. 12.Persons authorised to apply to court in connection with defective accounts

        2. 13.Power of person authorised to require documents, information and explanations

      3. Directors' reports

        1. 14.Power to specify bodies who may issue reporting standards

        2. 15.Application of provisions inserted by Article 13 to certain bodies

      4. Bodies concerned with accounting standards etc.

        1. 16.Grants to bodies concerned with accounting standards etc.

        2. 17.Exemption from liability

    3. CHAPTER III DIRECTORS' LIABILITIES

      1. 18.Relaxation of prohibition on provisions protecting directors etc. from liability

      2. 19.Funding of director’s expenditure on defending proceedings

    4. CHAPTER IV INVESTIGATIONS

      1. 20.Power to require documents and information

      2. 21.Protection in relation to certain disclosures

      3. 22.Power to enter and remain on premises

      4. 23.Failure to comply with certain requirements

    5. CHAPTER V MINOR AND CONSEQUENTIAL AMENDMENTS AND REPEALS

      1. 24.Minor and consequential amendments and repeals

  4. PART III COMMUNITY INTEREST COMPANIES

    1. Introductory

      1. 25.Community interest companies

      2. 26.Regulator

      3. 27.Appeal Officer

      4. 28.Official Property Holder

    2. Requirements

      1. 29.Cap on distributions and interest

      2. 30.Distribution of assets on winding up

      3. 31.Memorandum and articles

      4. 32.Names

      5. 33.Community interest company reports

      6. 34.Community interest test and excluded companies

    3. Becoming a community interest company

      1. 35.New companies

      2. 36.Existing companies: requirements

      3. 37.Existing companies: decisions etc.

      4. 38.Existing companies: charities

    4. Supervision by Regulator

      1. 39.Conditions for exercise of supervisory powers

      2. 40.Investigation

      3. 41.Audit

      4. 42.Civil proceedings

      5. 43.Appointment of director

      6. 44.Removal of director

      7. 45.Appointment of manager

      8. 46.Property

      9. 47.Transfer of shares etc.

      10. 48.Petition for winding up

      11. 49.Dissolution and striking off

    5. Change of status

      1. 50.Re-registration

      2. 51.Ceasing to be a community interest company

      3. 52.Becoming a charity: requirements

      4. 53.Becoming a charity: decisions

      5. 54.Becoming an industrial and provident society

    6. Supplementary

      1. 55.Fees

      2. 56.Extension of provisions about registrar etc.

      3. 57.Information

      4. 58.Orders made by Regulator

      5. 59.Regulations

      6. 60.Interpretation of Part III

  5. Signature

  6. SCHEDULES:

    1. Schedule 1

      New Schedule 7B to the Companies (Northern Ireland) Order 1986

    2. Schedule 2

      Minor and consequential amendments relating to Part II

    3. Schedule 3

      Repeals

    4. Schedule 4

      Regulator of Community Interest Companies for Northern Ireland

    5. Schedule 5

      Appeal Officer for Community Interest Companies for Northern Ireland

    6. Schedule 6

      Official Property Holder for Community Interest Companies for Northern Ireland

    7. Schedule 7

      Community interest companies: names

    8. Schedule 8

      Community interest companies: investigations

  7. Explanatory Note

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