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7.—(1) The Insolvency (Northern Ireland) Order 1989 is amended as follows.
(2) In Article 63(2)(b) (liability of past directors and shareholders), for “statutory declaration” and “declaration” substitute “statement”.
(3) In Article 102 (circumstances in which company may be wound up by the High Court), omit paragraph (e)(1).
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
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