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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 8 December 2017 - onwards
Version 2 of 2

Regulation 185 Effect of court order for restoration

(1) The general effect of an order restoring a cell or a protected cell company is that the cell or protected cell company (as the case may be) is deemed to have continued in existence as if it had not been dissolved.

(2) The court may give directions and make such provision as seems just for placing the cell or protected cell company and all other persons in the same position (as nearly as may be) as if the cell or protected cell company had not been dissolved.

(3) In particular, the court may give directions as to -

(a) the delivery of documents to the FCA or PRA;

(b) payment of the FCA's or PRA's costs in relation to the proceedings for restoration;

(c) where property or a right previously vested in or held on trust for the protected cell company has vested as bona vacantia, the payment of the costs (in Scotland, the expenses) of the Crown representative -

(i) in dealing with the property during the period of dissolution; or

(ii) in connection with the proceedings on the application.