The Oversea Companies and Credit and Financial Institutions (Branch Disclosure) Regulations 1992

The Companies Act 1989 (c. 40)

15.—(1) The new section 703E (registrar to whom particulars etc. to be delivered), prospectively inserted by Schedule 15, shall be amended as follows.

(2) In subsection (1), after “under” there shall be inserted “paragraph 1 of Schedule 21A or, as the case may be,”.

(3) In subsection (2), for paragraphs (a) and (b) and the words after paragraph (b) there shall be inserted—

“(a) where the company is a company to which section 690A applies—

(i) if it has registered a branch in one part of Great Britain but has not registered a branch in the other, to the registrar for the part in which it has registered a branch,

(ii) if it has registered a branch in both parts of Great Britain but the property subject to the charge is situated in one part of Great Britain only, to the registrar for that part, and

(iii) in any other case, to the registrars for both parts of Great Britain; and

(b) where the company is a company to which section 691 applies—

(i) if it is registered in one part of Great Britain and not in the other, to the registrar for the part in which it is registered,

(ii) if it is registered in both parts of Great Britain but the property subject to the charge is situated in one part of Great Britain only, to the registrar for that part, and

(iii) in any other case, to the registrar for both parts of Great Britain.”

(4) In subsection (4), for the first sentence there shall be substituted—

“If a company ceases to be a registered oversea company in relation to either part of Great Britain, charges over property of the company shall cease to be subject to the provisions of this Chapter, as regards registration in that part of Great Britain, as from the date on which the notice under section 695A(3) or, as the case may be, 696(3) is given.”