- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (04/01/2024)
- Gwreiddiol (a wnaed Fel)
The Companies (No. 2) (Northern Ireland) Order 1990
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There are currently no known outstanding effects for the The Companies (No. 2) (Northern Ireland) Order 1990, Section 102.
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Proceedings against market property by unsecured creditorsN.I.
102.—(1) Where property (other than land) is held by a recognised investment exchange or recognised clearing house as margin in relation to market contracts or is subject to a market charge, no execution or other legal process for the enforcement of a judgment or order may be commenced or continued, and no distress may be levied, against the property by a person not seeking to enforce any interest in or security over the property, except with the consent of—
(a)in the case of property provided as cover for margin, the investment exchange or clearing house in question, or
(b)in the case of property subject to a market charge, the person in whose favour the charge was granted.
(2) Where consent is given the proceedings may be commenced or continued notwithstanding any provision of the Insolvency Order.
(3) Where by virtue of this Article a person would not be entitled to enforce a judgment or order against any property, any injunction or other remedy granted with a view to facilitating the enforcement of any such judgment or order shall not extend to that property.
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