Skip to main content
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 2 February 2006 - onwards
Version 3 of 3

Regulation 21 Disapplication of certain provisions of Part VII and Part V

(1) The provisions of the Companies Act 1989 or the Companies (No. 2) (Northern Ireland) Order 1990 mentioned in paragraph (2) do not apply in relation to -

(a) a market contract which is also a transfer order effected through a designated system; or

(b) a market charge which is also a collateral security charge.

(2) The provisions referred to in paragraph (1) are as follows -

(a) section 163(4) to (6) and Article 86(3) to (5) (net sum payable on completion of default proceedings);

(b) section 164(4) to (6) and Article 87(3) to (5) (disclaimer of property, rescission of contracts, &c); and

(c) section 175(5) and (6) and Article 97(5) and (6) (administration orders, &c).