Companies Act 1985

460 Order on application of Secretary of State. E+W+S

(1) If in the case of any company—

(a) the Secretary of State has received a report under section 437, or exercised his powers under section 447 or 448 of this Act or section 44(2) to (6) of the M1 Insurance Companies Act 1982 [F1 (inspection of company’s books and papers)], and

(b) it appears to him that the company’s affairs are being or have been conducted in a manner which is [F2 unfairly prejudicial to the interests of its members generally or of some part of its members], or that any actual or proposed act or omission of the company (including an act or omission on its behalf) is or would be so prejudicial,

he may himself (in addition to or instead of presenting a petition [F1 under section 440] for the winding up of the company) apply to the court by petition for an order under this Part.

(2) In this section (and, so far as applicable for its purposes, in the section next following) “company” means any body corporate which is liable to be wound up under this Act.

Textual Amendments

F1 Words repealed (prosp.) by Companies Act 1989 (c. 40, SIF 27), ss. 212, 213(2), 215(2), Sch. 24

F2 Words in s. 460(1) substituted (4.2.1991) by Companies Act 1989 (c. 40, SIF 27), ss. 145, 213(2), Sch. 19 para. 11(b)

Modifications etc. (not altering text)

C1 S. 460(2) amended (E.W.) (1.12.1991) by Water Consolidation (Consequential Provisions) Act 1991 (c. 60, SIF 130), ss. 2(1), 4(2), Sch. 1 para. 40(1)

Marginal Citations

M1 1982 c. 50.