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66. For paragraph (1)(1) of section 453 of the 1986 Order (order on application of the Department) substitute—
“(1) If it appears to the Department that—
(a)the affairs of a company to which this paragraph applies are being or have been conducted in a manner which is unfairly prejudicial to the interests of its members generally or of some part of its members, or
(b)any actual or proposed act or omission of a company to which this paragraph applies, including an act or omission on its behalf, is or would be so prejudicial,
the Department may (in addition to or instead of presenting a petition for the winding up of the company) apply to the court by petition for an order under this Part.
(1A) Paragraph (1) applies to a company in respect of which—
(a)the Department has received a report under Article 430;
(b)the Department has exercised its powers under Article 440 or 441;
(c)the Secretary of State or the Financial Services Authority has exercised his or its powers under Part 11 of the Financial Services and Markets Act 2000; or
(d)the Secretary of State has received a report from an investigator appointed by him or by the Financial Services Authority under that Part.”.
Paragraph (1) was amended by the Companies (No.2) (Northern Ireland) Order 1990 (S.I. 1990/1504 (NI 10)), Articles 78, 113 Schedules 5 and 6, and by S.I. 1994/1696, Schedule 8 paragraph 13(5).
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