C1C2C3 PART VWINDING UP OF COMPANIES REGISTERED UNDER F2the Companies Act 2006
Pt. V modified (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), ss. 13, 49(1) (with ss. 2(2), 5(2))
Pts. 1-5 modified by S.R. 2004/307 (as amended (1.10.2006) by Limited Liability Partnerships (Amendment) Regulations (Northern Ireland) 2006 (S.R. 2006/377), reg. 3, Sch. 2; (temp.) (27.4.2020 retrospective) by virtue of Corporate Insolvency and Governance Act 2020 (c. 12), Sch. 11 para. 8(1)(2), 14 (with ss. 2(2), 5(2)); (26.6.2020) by The Limited Liability Partnerships (Amendment etc.) Regulations 2020 (S.I. 2020/643), reg. 1(1), Sch. 2 (with reg. 3); (16.2.2021) by The Limited Liability Partnerships (Amendment etc.) Regulations 2021 (S.I. 2021/60), reg. 1(1), Sch. 2 (with reg. 4(2)))
Pts. 1-5 applied (with modifications) (4.1.2024) by S.I. 2021/716, Sch. 1A para. 3 (as inserted by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), reg. 1(2), Sch. 1)
CHAPTER VIWINDING UP BY THE HIGH COURT
Grounds and effect of winding‐up petition
F1Petition for winding up of SCE104C
1
Where, in the case of an SCE whose registered office is in Northern Ireland—
a
there has been such a breach as is mentioned in Article 73(1) of Council Regulation (EC) No 1435/2003 on the Statute for a European Cooperative (SCE) (the “European Cooperative Society Regulation”) (winding up by the court or other competent authority), and
b
it appears to the F3Financial Conduct Authority that the SCE should be wound up,
the F4Authority may present a petition for the SCE to be wound up if the court thinks it is just and equitable for it to be so.
2
Where, in the case of an SCE whose registered office is in Northern Ireland—
a
the SCE is not in compliance with Article 6 of the European Cooperative Society Regulation (location of head office and registered office), and
b
it appears to the F5Financial Conduct Authority that the SCE should be wound up,
the F6Authority may present a petition for the SCE to be wound up if the court thinks it is just and equitable for it to be so.
3
This Article does not apply if the SCE is already being wound up by the court.
4
In this Article “SCE” has the same meaning as in the European Cooperative Society Regulation.
Words in Pt. V heading substituted (1.10.2009) by Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), arts. 2(1), 8, Sch. 1 para. 111(2) (with art. 10)