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The Companies Act 2006 (Consequential Amendments etc) Order 2008

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Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19))

This sectionnoteType=Explanatory Memorandum has no associated

171.  After Part 14 of the Insolvency (Northern Ireland) Order 1989 (miscellaneous) insert—

PART 15SUPPLEMENTARY PROVISIONS
Introductory

383.  The provisions of this Part have effect for the purposes of—

(a)Parts 2 to 7 (company insolvency; companies winding-up),

(b)Articles 2 and 5 to 8 (interpretation), and

(c)Articles 359, 360, 361 and 362 in Part 13.

Representation of corporations at meetings

384.  (1)  If a corporation is a creditor or debenture-holder, it may by resolution of its directors or other governing body authorise a person or persons to act as its representative or representatives—

(a)at any meeting of the creditors of a company held in pursuance of this Order or of rules made under it, or

(b)at any meeting of a company held in pursuance of the provisions contained in a debenture or trust deed.

(2) Where the corporation authorises only one person, that person is entitled to exercise the same powers on behalf of the corporation as the corporation could exercise if it were an individual creditor or debenture-holder.

(3) Where the corporation authorises more than one person, any one of them is entitled to exercise the same powers on behalf of the corporation as the corporation could exercise if it were an individual creditor or debenture-holder.

(4) Where the corporation authorises more than one person and more than one of them purport to exercise a power under paragraph (3)—

(a)if they purport to exercise the power in the same way, the power is treated as exercised in that way;

(b)if they do not purport to exercise the power in the same way, the power is treated as not exercised.

Legal professional privilege

385.  In proceedings against a person for an offence under this Order nothing in this Order is to be taken to require any person to disclose any information that he is entitled to refuse to disclose on grounds of legal professional privilege..

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