Companies Act 1989

1. Introductory Text

2. Part I Company Accounts

   1. Introduction

      1. 1. Introduction.

   2. Provisions applying to companies generally

      1. 2. Accounting records.

      2. 3. A company’s financial year and accounting reference periods.

      3. 4. Individual company accounts.

      4. 5. Group accounts.

      5. 6. Additional disclosure required in notes to accounts.

      6. 7. Approval and signing of accounts.

      7. 8. Directors’ report.

      8. 9. Auditors’ report.

      9. 10. Publication of accounts and reports.

      10. 11. Laying and delivering of accounts and reports.

      11. 12. Remedies for failure to comply with accounting requirements.

   3. Exemptions and special provisions

      1. 13. Small and medium-sized companies and groups.

      2. 14. Dormant companies.

      3. 15. Public listed companies: provision of summary financial statement.

      4. 16. Private companies: election to dispense with laying of accounts and reports before general meeting.

      5. 17. Unlimited companies: exemption from requirement to deliver accounts and reports.

      6. 18. Banking and insurance companies and groups: special provisions.

   4. Supplementary provisions

      1. 19. Accounting standards.

      2. 20. Power to alter accounting requirements.

      3. 21. Parent and subsidiary undertakings.

      4. 22. Other interpretation provisions.

   5. Consequential amendments

      1. 23. Consequential amendments.

3. Part II Eligibility for Appointment as Company Auditor

   1. Introduction

      1. 24. Introduction.

   2. Eligibility for appointment

      1. 25. Eligibility for appointment.

      2. 26. Effect of appointment of partnership.

      3. 27. Ineligibility on ground of lack of independence.

      4. 28. Effect of ineligibility.

      5. 29. Power of Secretary of State to require second audit.

   3. Recognition of supervisory bodies and professional qualifications

      1. 30. Supervisory bodies.

      2. 31. Meaning of “appropriate qualification”.

      3. 32. Qualifying bodies and recognised professional qualifications.

      4. 33. Approval of overseas qualifications.

      5. 34. Eligibility of individuals retaining only 1967 Act authorisation.

   4. Duties of recognised bodies

      1. 35. The register of auditors.

      2. 36. Information about firms to be available to public.

      3. 37. Matters to be notified to the Secretary of State.

      4. 38. Power to call for information.

      5. 39. Compliance orders.

      6. 40. Directions to comply with international obligations.

   5. Offences

      1. 41. False and misleading statements.

      2. 42. Offences by bodies corporate, partnerships and unincorporated associations.

      3. 43. Time limits for prosecution of offences.

      4. 44. Jurisdiction and procedure in respect of offences.

   6. Supplementary provisions

      1. 45. Fees.

      2. 46. Delegation of functions of Secretary of State.

      3. 46A. Circumstances in which Secretary of State may delegate functions to existing body

      4. 47. Restrictive practices.

      5. 48. Exemption from liability for damages.

      6. 49. Service of notices.

      7. 50. Power to make consequential amendments.

      8. 51. Power to make provision in consequence of changes affecting accountancy bodies.

      9. 52. Meaning of “associate”.

      10. 53. Minor definitions.

      11. 54. Index of defined expressions.

4. Part III Investigations and Powers to Obtain Information

   1. Amendments of the Companies Act 1985

      1. 55. Investigations by inspectors not leading to published report.

      2. 56. Production of documents and evidence to inspectors.

      3. 57. Duty of inspectors to report.

      4. 58. Power to bring civil proceedings on the company’s behalf.

      5. 59. Expenses of investigating a company’s affairs.

      6. 60. Power of Secretary of State to present winding-up petition.

      7. 61. Inspectors’ reports as evidence.

      8. 62. Investigation of company ownership.

      9. 63. Secretary of State’s power to require production of documents.

      10. 64. Entry and search of premises.

      11. 65. Provision for security of information obtained.

      12. 66. Punishment for destroying, mutilating, &c. company documents.

      13. 67. Punishment for furnishing false information.

      14. 68. Disclosure of information by Secretary of State or inspector.

      15. 69. Protection of banking information.

      16. 70. Investigation of oversea companies.

      17. 71. Investigation of unregistered companies.

   2. Amendments of the Financial Services Act 1986

      1. 72. Investigations into collective investment schemes.

      2. 73. Investigations into affairs of persons carrying on investment business.

      3. 74. Investigations into insider dealing.

      4. 75. Restrictions on disclosure of information.

      5. 76. Entry and search of premises.

   3. Amendments of other enactments

      1. 77. Amendments of the Insurance Companies Act 1982.

      2. 78. Amendment of the Insolvency Act 1986.

      3. 79. Amendment of the Company Directors Disqualification Act 1986.

      4. 80. Amendment of the Building Societies Act 1986.

      5. 81. Amendments of the Banking Act 1987.

   4. Powers exercisable to assist overseas regulatory authorities

      1. 82. Request for assistance by overseas regulatory authority.

      2. 83. Power to require information, documents or other assistance.

      3. 84. Exercise of powers by officer, &c.

      4. 85. Penalty for failure to comply with requirement, &c.

      5. 86. Restrictions on disclosure of information.

      6. 87. Exceptions from restrictions on disclosure.

      7. 88. Exercise of powers in relation to Northern Ireland.

      8. 89. Prosecutions.

      9. 90. Offences by bodies corporate, partnerships and unincorporated associations.

      10. 91. Jurisdiction and procedure in respect of offences.

5. Part IV Registration of Company Charges

   1. Introduction

      1. 92. Introduction.

   2. Registration in the companies charges register

      1. 93. Charges requiring registration.

      2. 94. The companies charges register.

      3. 95. Delivery of particulars for registration.

      4. 96. Delivery of further particulars.

      5. 97. Effect of omissions and errors in registered particulars.

      6. 98. Memorandum of charge ceasing to affect company’s property.

      7. 99. Further provisions with respect to voidness of charges.

      8. 100. Additional information to be registered.

   3. Copies of instruments and register to be kept by the company

      1. 101. Copies of instruments and register to be kept by the company

   4. Supplementary provisions

      1. 102. Power to make further provision by regulations.

      2. 103. Other supplementary provisions.

      3. 104. Interpretation, &c.

      4. 105. Charges on property of oversea company.

      5. 106. Application of provisions to unregistered companies.

      6. 107. Consequential amendments.

6. Part V Other amendments of Company Law

   1. A company’s capacity and related matters

      1. 108. A company’s objects and the power of the directors to bind it.

      2. 109.

      3. 110. Statement of company’s objects.

      4. 111. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      5. 112. Charitable companies (Scotland).

   2. De-regulation of private companies

      1. 113. Written resolutions of private companies.

      2. 114. Written resolutions: supplementary provisions.

      3. 115. Election by private company to dispense with certain requirements.

      4. 116. Elective resolution of private company.

      5. 117. Power to make further provision by regulations.

   3. Appointment and removal of auditors and related matters

      1. 118. Introduction.

      2. 119. Appointment of auditors.

      3. 120. Rights of auditors.

      4. 121. Remuneration of auditors.

      5. 122. Removal, resignation, &c. of auditors.

      6. 123. Statement by person ceasing to hold office as auditor.

      7. 124. Auditors of trade unions and employers’ associations.

   4. Company records and related matters

      1. 125. Delivery of documents to the registrar.

      2. 126. Keeping and inspection of company records.

      3. 127. Supplementary provisions as to company records and related matters.

   5. Miscellaneous

      1. 128. Form and articles for partnership company.

      2. 129. Membership of holding company.

      3. 130. Company contracts and execution of documents by companies.

      4. 131. Members’ rights to damages, &c.

      5. 132. Financial assistance for purposes of employees’ share scheme.

      6. 133. Issue of redeemable shares.

      7. 134. Disclosure of interests in shares.

      8. 135. Orders imposing restrictions on shares.

      9. 136. A company’s registered office.

      10. 137. Effecting of insurance for officers and auditors of company.

      11. 138. Increase of limits on certain exemptions.

      12. 139. Annual returns.

      13. 140. Floating charges (Scotland).

      14. 141. Application to declare dissolution of company void.

      15. 142. Abolition of doctrine of deemed notice.

      16. 143. Rights of inspection and related matters.

      17. 144. “Subsidiary”, “holding company” and “wholly-owned subsidiary”.

      18. 145.

7. Part VI Mergers and Related Matters

   1. 146. After section 75 of the Fair Trading Act 1973 there...

   2. 147. Undertakings as alternative to merger reference.

   3. 148. Enforcement of undertakings.

   4. 149. Temporary restrictions on share dealings.

   5. 150. Obtaining control by stages.

   6. 151. False or misleading information.

   7. 152. Fees.

   8. 153. Other amendments about mergers and related matters.

8. Part VII Financial Markets and Insolvency

   1. Introduction

      1. 154. Introduction.

   2. Recognised investment exchanges and clearing houses

      1. 155. Market contracts.

      2. 155A. Qualifying collateral arrangements and qualifying property transfers

      3. 156. Additional requirements for recognition: default rules, &c.

      4. 157.

      5. 158. Modifications of the law of insolvency.

      6. 159. Proceedings of exchange or clearing house take precedence over insolvency procedures.

      7. 160.

      8. 161. Supplementary provisions as to default proceedings.

      9. 162. Duty to report on completion of default procedings.

      10. 163. Net sum payable on completion of default proceedings.

      11. 164. Disclaimer of property, rescission of contracts, &c.

      12. 165. Adjustment of prior transactions.

      13. 166. Powers ... to give directions.

      14. 167. Application to determine whether default proceedings to be taken.

      15. 168. Delegation of functions to designated agency.

      16. 169. Supplementary provisions.

   3. Other exchanges and clearing houses

      1. 170. Certain overseas exchanges and clearing houses.

      2. 170A. EEA central counterparties and third country central counterparties

      3. 170B. EEA central counterparties and third country central counterparties: procedure

      4. 171. Certain money market institutions.

      5. 172. Settlement arrangements provided by the Bank of England.

   4. Market charges

      1. 173. Market charges.

      2. 174. Modifications of the law of insolvency.

      3. 175. Administration orders, &c.

      4. 176. Power to make provision about certain other charges.

   5. Market property

      1. 177. Application of margin or default fund contribution not affected by certain other interests.

      2. 178. Priority of floating market charge over subsequent charges.

      3. 179. Priority of market charge over unpaid vendor’s lien.

      4. 180. Proceedings against market property by unsecured creditors.

      5. 181. Power to apply provisions to other cases.

   6. Supplementary provisions

      1. 182. Powers of court in relation to certain proceedings begun before commencement.

      2. 182A. Recognised central counterparties: disapplication of provisions on mutual credit and set-off

      3. 183. Insolvency proceedings in other jurisdictions.

      4. 184. Indemnity for certain acts, &c.

      5. 185. Power to make further provision by regulations.

      6. 186. Supplementary provisions as to regulations.

      7. 187. Construction of references to parties to market contracts.

      8. 188. Meaning of “default rules” and related expressions.

      9. 189. Meaning of “relevant office-holder”.

      10. 189A. Meaning of “transfer”

      11. 190. Minor definitions.

      12. 191. Index of defined expressions.

9. Part VIII Amendments of the Financial Services Act 1986

   1. 192. Statements of principle.

   2. 193. Restriction of right to bring action for contravention of rules, regulations, &c.

   3. 194. Application of designated rules and regulations to members of self-regulating organisations.

   4. 195. Codes of practice.

   5. 196. Relations with other regulatory authorities.

   6. 197. Construction of references to incurring civil liability.

   7. 198. Offers of unlisted securities.

   8. 199. Offers of securities by private companies and old public companies.

   9. 200. Jurisdiction of High Court and Court of Session.

   10. 201. Directions to secure compliance with international obligations.

   11. 202. Offers of short-dated debentures.

   12. 203. Standard of protection for investors.

   13. 204. Costs of compliance.

   14. 205. Requirements for recognition of investment exchange.

   15. 206. Consequential amendments and delegation of functions on commencement.

10. Part IX Transfer of Securities

    1. 207. Transfer of securities.

11. Part X Miscellaneous and General Provisions

    1. Miscellaneous

       1. 208. Summary proceedings in Scotland for offences in connection with disqualification of directors.

       2. 209. Prosecutions in connection with insider dealing.

       3. 210. Restriction of duty to supply statements of premium income.

       4. 211. Building societies: miscellaneous amendments.

    2. General

       1. 212. Repeals.

       2. 213. Provisions extending to Northern Ireland.

       3. 214. Making of corresponding provision for Northern Ireland.

       4. 215. Commencement and transitional provisions.

       5. 216. Short title.

12. SCHEDULES

    1. SCHEDULE 1

       1. 1.

       2. Group undertakings

          1. 2.

       3. Participating interests

          1. 3.

          2. 4.

       4. Consistency of accounting policies

          1. 5.

       5. Revaluation reserve

          1. 6.

       6. Compliance with accounting standards

          1. 7.

       7. Provision for taxation

          1. 8.

       8. Loans in connection with assistance for purchase of company’s own shares

          1. 9.

       9. Obligation to show corresponding amounts for previous financial year

          1. 10.

       10. Special provisions where company is parent company or subsidiary undertaking

           1. 11.

    2. SCHEDULE 2

       1. General rules

          1. 1.

          2. 2.

          3. 3.

          4. 4.

          5. 5.

       2. Elimination of group transactions

          1. 6.

       3. Acquisition and merger accounting

          1. 7.

          2. 8.

          3. 9.

          4. 10.

          5. 11.

          6. 12.

          7. 13.

          8. 14.

          9. 15.

          10. 16.

       4. Minority interests

          1. 17.

       5. Interests in subsidiary undertakings excluded from consolidation

          1. 18.

       6. Joint ventures

          1. 19.

       7. Associated undertakings

          1. 20.

          2. 21.

          3. 22.

    3. SCHEDULE 3

       1. Part I Companies not Required to Prepare Group Accounts

          1. Subsidiary undertakings

             1. 1.

          2. Holdings in subsidiary undertakings

             1. 2.

          3. Financial information about subsidiary undertakings

             1. 3.

          4. Financial years of subsidiary undertakings

             1. 4.

          5. Further information about subsidiary undertakings

             1. 5.

          6. Shares and debentures of company held by subsidiary undertakings

             1. 6.

          7. Significant holdings in undertakings other than subsidiary undertakings

             1. 7.

             2. 8.

             3. 9.

          8. Arrangements attracting merger relief

             1. 10.

          9. Parent undertaking drawing up accounts for larger group

             1. 11.

          10. Identification of ultimate parent company

              1. 12.

          11. Constructions of references to shares held by company

              1. 13.

       2. Part II Companies Required to Prepare Group Accounts

          1. Introductory

             1. 14.

          2. Subsidiary undertakings

             1. 15.

          3. Holdings in subsidiary undertakings

             1. 16.

          4. Financial information about subsidiary undertakings not included in the consolidation

             1. 17.

          5. Further information about subsidiary undertakings excluded from consolidation

             1. 18.

          6. Financial years of subsidiary undertakings

             1. 19.

          7. Shares and debentures of company held by subsidiary undertakings

             1. 20.

          8. Joint ventures

             1. 21.

          9. Associated undertakings

             1. 22.

          10. Other significant holdings of parent company or group

              1. 23.

              2. 24.

              3. 25.

              4. 26.

              5. 27.

              6. 28.

          11. Arrangements attracting merger relief

              1. 29.

          12. Parent undertaking drawing up accounts for larger group

              1. 30.

          13. Identification of ultimate parent company

              1. 31.

          14. Construction of references to shares held by parent company or group

              1. 32.

    4. SCHEDULE 4

       1. 1.

       2. 2.

       3. 3.

       4. 4.

       5. 5.

       6. 6.

       7. 7. Omit the present Part III (disclosure required in case of...

    5. SCHEDULE 5

       1. 1.

       2. Subsidiary undertakings

          1. 2.

       3. Directors’ interests

          1. 3.

    6. SCHEDULE 6

       1. Part I Small Companies

          1. Balance sheet

             1. 1.

          2. Profit and loss account

             1. 2.

          3. Disclosure of information in notes to accounts

             1. 3.

          4. Directors’ report

             1. 4.

       2. Part II Small Companies

          1. Profit and loss account

             1. 5.

          2. Disclosure of information in notes to accounts

             1. 6.

       3. Part III Supplementary Provisions

          1. Statement that advantage taken of exemptions

             1. 7.

          2. Special auditors’ report

             1. 8.

          3. Dormant companies

             1. 9.

          4. Requirements in connection with publication of accounts

             1. 10.

    7. SCHEDULE 7

       1. Preliminary

          1. Schedule 9 to the Companies Act 1985 is amended in...

       2. Part I Form and Content of Accounts

          1. 1.

          2. 2.

          3. 3.

          4. 4.

          5. 5.

          6. 6.

          7. 7.

          8. 8.

          9. 9.

          10. 10.

          11. 11.

          12. 12.

          13. 13.

       3. Part II [Part II of Schedule 9 to the Companies Act 1985]

          1. Undertakings to be included in consolidation

             1. 1.

          2. General application of provisions applicable to individual accounts

             1. 2.

          3. Treatment of goodwill

             1. 3.

          4. Minority interests and associated undertakings

             1. 4.

          5. Companies entitled to benefit of exemptions

             1. 5.

          6. Information as to undertaking in which shares held as result of financial assistance operation

             1. 6.

       4. Part III [Part III of Schedule 9 to the Companies Act 1985]

          1. 1.

       5. Part IV [Part IV of Schedule 9 to the Companies Act 1985]

          1. 1.

          2. Loans, quasi-loans and other dealings

             1. 2.

          3. Other transactions, arrangements and agreements

             1. 3.

    8. SCHEDULE 8

       1. Recent issues

          1. 1.

       2. Turnover and profitability

          1. 2.

       3. Labour force and wages paid

          1. 3.

    9. SCHEDULE 9

       1. Introduction

          1. 1.

       2. Voting rights in an undertaking

          1. 2.

       3. Right to appoint or remove a majority of the directors

          1. 3.

       4. Right to exercise dominant influence

          1. 4.

       5. Rights exercisable only in certain circumstances or temporarily incapable of exercise

          1. 5.

       6. Rights held by one person on behalf of another

          1. 6.

          2. 7.

       7. Rights attached to shares held by way of security

          1. 8.

       8. Rights attributed to parent undertaking

          1. 9.

       9. Disregard of certain rights

          1. 10.

       10. Supplementary

           1. 11.

    10. SCHEDULE 10

        Amendments Consequential on Part I

        1. Part I Amendments of the Companies Act 1985

           1. 1. In section 46 (meaning of “unqualified” auditors’ report in section...

           2. 2. In section 209(5)(a)(i) for “an authorised institution” substitute “a banking...

           3. 3. In sections 211(9) and 215(4) for “paragraph 3 or 10...

           4. 4. In section 271(3), for “section 236” substitute “section 235”.

           5. 5. In section 272(3)— (a) for “section 228” substitute “section 226”,...

           6. 6. In sections 272(5) and 273(7) for “section 241(3)(b)” substitute “the...

           7. 7. In section 276(b) for “34(4)(b)” substitute “34(3)(a)”.

           8. 8. For section 279 substitute— Distributions by banking or insurance companies....

           9. 9. In section 289(4) for “section 252(5)” substitute “section 250(3)”.

           10. 10. In sections 338(4), 339(4), . . . and 344(2) for...

           11. 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

           12. 12. In section 699(3) for “section 241(3)” substitute “section 242(1)”.

           13. 13. In Part XXIII (oversea companies), for Chapter II (delivery of...

           14. 14. In section 711(1)(k) for “section 241 (annual accounts)” substitute “section...

           15. 15. For section 742 (expressions used in connection with accounts) substitute—...

           16. 16. In section 744 (interpretation), omit the definition of “authorised institution”...

           17. 17. In Schedule 1, in paragraph 2(2)(a) for “section 252(5)” substitute...

           18. 18. (1) Schedule 2 (interpretation of references to “ beneficial interest...

           19. 19. (1) Part II of Schedule 3 (prospectuses: auditors’ and accountants’...

           20. 20. In paragraph 12(b) of Schedule 4, for “section 238” substitute...

           21. 21. (1) Schedule 11 is amended as follows.

           22. 22. (1) In Schedule 15A (renumbered 15B) (provisions applicable to mergers...

           23. 23. In Schedule 22 (provisions applying to unregistered companies), in the...

           24. 24. (1) Schedule 24 (punishment of offences) is amended as follows....

        2. Part II Amendments of Other Enactments

           1. Betting, Gaming and Lotteries Act 1963 (c.2)

              1. 25. In Schedule 2 to the Betting, Gaming and Lotteries Act...

           2. Harbours Act 1964 (c.40)

              1. 26. (1) Section 42 of the Harbours Act 1964 (accounts and...

           3. Coal Industry Act 1971 (c.16)

              1. 27. (1) Section 8 of the Coal Industry Act 1971 (further...

           4. Aircraft and Shipbuilding Industries Act 1977 (c.3)

              1. 28. (1) Section 17 of the Aircraft and Shipbuilding Industries Act...

           5. Crown Agents Act 1979 (c.43)

              1. 29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

           6. British Telecommunications Act 1981 (c.38)

              1. 30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

           7. Transport Act 1981 (c.56)

              1. 31. In section 11(4) of the Transport Act 1981, for “section...

           8. Iron and Steel Act 1982 (c.25)

              1. 32. In section 24(5) of the Iron and Steel Act 1982...

           9. Oil and Pipelines Act 1985 (c.62)

              1. 33. In Schedule 3 to the Oil and Pipelines Act 1985...

           10. Patents, Designs and Marks Act 1986 (c.39)

               1. 34. In Schedule 2 to the Patents, Designs and Marks Act...

           11. Company Directors Disqualification Act 1986 (c.46)

               1. 35. (1) The Company Directors Disqualification Act 1986 is amended as...

           12. Financial Services Act 1986 (c.60)

               1. 36. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

           13. Banking Act 1987 (c.22)

               1. 37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

           14. Income and Corporation Taxes Act 1988 (c.1)

               1. 38. (1) The Income and Corporation Taxes Act 1988 is amended...

           15. Dartford–Thurrock Crossing Act 1988 (c.20)

               1. 39. In section 33 of the Dartford–Thurrock Crossing Act 1988 (duty...

    11. SCHEDULE 11

        1. Part I Grant and Revocation of Recognition

           1. Application for recognition of supervisory body

              1. 1.

           2. Grant and refusal of recognition

              1. 2.

           3. Revocation of Recognition

              1. 3.

        2. Part II Requirements for Recognition

           1. Holding of appropriate qualification

              1. 4.

              2. 5.

           2. Auditors to be fit and proper persons

              1. 6.

           3. Professional integrity and independence

              1. 7.

           4. Technical standards

              1. 8.

           5. Procedures for maintaining competence

              1. 9.

           6. Monitoring and enforcement

              1. 10.

           7. Independent monitoring of audits of listed and other major companies

              1. 10A.

           8. Membership, eligibility and discipline

              1. 11.

           9. Investigation of complaints

              1. 12.

           10. Independent investigation for disciplinary purposes of public interest cases

               1. 12A.

           11. Meeting of claims arising out of audit work

               1. 13.

           12. Register of auditors and other information to be made available

               1. 14.

           13. Taking account of costs of compliance

               1. 15.

           14. Promotion and maintenance of standards

               1. 16.

        3. Part 3 Arrangements in which supervisory bodies are required to participate

           1. 17. Arrangements for setting standards relating to professional integrity and independence

           2. 18. Arrangements for setting technical standards

           3. 19. Arrangements for independent monitoring of audits of listed and other major companies

           4. 20. Arrangements for independent investigation for disciplinary purposes of public interest cases

           5. 21. Supplementary: arrangements to operate independently of body

           6. 22. Supplementary: “funded” arrangements etc.

    12. SCHEDULE 12

        1. Part I Grant and Revocation of Recognition

           1. Application for recognition of professional qualification

              1. 1.

           2. Grant and refusal of recognition

              1. 2.

           3. Revocation of recognition

              1. 3.

        2. Part II Requirements for Recognition

           1. Entry requirements

              1. 4.

           2. Course of theoretical instruction

              1. 5.

           3. Sufficient period of professional experience

              1. 6.

           4. Examination

              1. 7.

           5. Practical training

              1. 8.

           6. The body offering the qualification

              1. 9.

    13. SCHEDULE 13

        1. Operation of this Schedule

           1. 1.

        2. Status

           1. 2.

        3. Name, members and chairman

           1. 3.

        4. Financial provisions

           1. 4.

        5. Proceedings

           1. 5.

        6. Fees

           1. 6.

        7. Legislative functions

           1. 7.

           2. 8.

           3. 9.

        8. Report and accounts

           1. 10.

        9. Other supplementary provisions

           1. 11.

           2. 12.

           3. 13.

    14. SCHEDULE 14

        Supervisory and qualifying bodies: Restrictive practices

        1. Part I Prevention of restrictive practices

           1. Refusal of recognition on grounds related to competition

              1. 1. (1) The Secretary of State shall before deciding whether to...

           2. Notification of changes to rules or guidance

              1. 2. (1) Where a recognised supervisory or qualifying body amends, revokes...

           3. Continuing scrutiny by the Director General of Fair Trading

              1. 3. (1) The OFT shall keep under review the rules made...

           4. Investigatory powers of the Director

              1. 4. (1) The following powers are exercisable by the OFT for...

              2. 4A. Enforcement

              3. 4B. (1) A person commits an offence if he intentionally alters,...

           5. Publication of Director’s reports

              1. 5. (1) The OFT may, if it thinks fit, publish any...

           6. Powers exercisable by the Secretary of State in consequence of report

              1. 6. (1) The powers conferred by this section are exercisable by...

           7. Supplementary provisions

              1. 7. (1) A direction under paragraph 6 is, on the application...

        2. Part II Consequential Exemptions from Competition Law

           1. Fair Trading Act 1973 (c. 41)

              1. 8. (1) For the purpose of determining whether a monopoly situation...

           2. The Competition Act 1998

              1. 9. (1) The Chapter I prohibition does not apply to an...

           3. Competition Act 1980 (c. 21)

              1. 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    15. SCHEDULE 15

        Charges on Property of Oversea Companies

    16. SCHEDULE 16

        Amendments Consequential on Part IV

        1. Land Charges Act 1972 (c. 61)

           1. 1. (1) Section 3 of the Land Charges Act 1972 (registration...

        2. Companies Act 1985 (c. 6)

           1. 1A. Section 695A(1) is amended by the insertion of the words...

           2. 2. (1) Schedule 24 to the Companies Act 1985 (punishment of...

        3. Insolvency Act 1986 (c. 45)

           1. 3. (1) The Insolvency Act 1986 is amended as follows.

        4. Company Directors Disqualification Act 1986 (c. 46)

           1. 4. In Schedule 1 to the Company Directors Disqualification Act 1986...

    17. SCHEDULE 17

        Company Contracts, Seals, &c.: Further Provisions

        1. Execution of deeds abroad

           1. 1. . . . . . . . . . ....

        2. Official seal for use abroad

           1. 2. . . . . . . . . . ....

        3. Official seal for share certificates, &c.

           1. 3. . . . . . . . . . ....

        4. Authentication of documents

           1. 4. . . . . . . . . . ....

        5. Share certificate as evidence of title

           1. 5. . . . . . . . . . ....

        6. Share warrants to bearer

           1. 6. . . . . . . . . . ....

        7. Identification of company on common seal

           1. 7. . . . . . . . . . ....

        8. Floating charges under Scots law

           1. 8. . . . . . . . . . ....

           2. 9. . . . . . . . . . ....

           3. 10. . . . . . . . . . ....

    18. SCHEDULE 18

        “Subsidiary” and related expressions: consequential amendments and savings

        1. Coal Industry Nationalisation Act 1946 (c. 59)

           1. 1. In Schedule 2A to the Coal Industry Nationalisation Act 1946...

        2. Electricity Act 1947 (c. 54)

           1. 2. In section 67 of the Electricity Act 1947 (interpretation)—

        3. Landlord and Tenant Act 1954 (c. 56)

           1. 3. In section 42 of the Landlord and Tenant Act 1954...

        4. Transport Act 1962 (c. 46)

           1. 4. In the Transport Act 1946, in the definition of “subsidiary”...

        5. Harbours Act 1964 (c. 40)

           1. 5. In section 57(1) of the Harbours Act 1964 (interpretation), in...

        6. General Rate Act 1967 (c. 9)

           1. 6. In section 32A of the General Rate Act 1967 (rateable...

        7. Transport Act 1968 (c. 73)

           1. 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        8. Post Office Act 1969 (c. 48)

           1. 8. In section 86 of the Post Office Act 1969 (interpretation),...

        9. Industry Act 1972 (c. 63)

           1. 9. In section 10 of the Industry Act 1972 (construction credits),...

        10. Coal Industry Act 1973 (c. 8)

            1. 10. In section 12(1) of the Coal Industry Act 1973 (interpretation)...

        11. Industry Act 1975 (c. 68)

            1. 11. In section 37(1) of the Industry Act 1975 (interpretation), in...

        12. Scottish Development Agency Act 1975 (c. 69)

            1. 12. In section 25(1) of the Scottish Development Agency Act 1975...

        13. Welsh Development Agency Act 1975 (c. 70)

            1. 13. In section 27(1) of the Welsh Development Agency Act 1975...

        14. Restrictive Trade Practices Act 1976 (c. 41)

            1. 14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        15. Industrial Common Ownership Act 1976 (c. 78)

            1. 15. In section 2(5) of the Industrial Common Ownership Act 1976...

        16. Aircraft and Shipbuilding Industries Act 1977 (c. 3)

            1. 16. In section 56(1) of the Aircraft and Shipbuilding Industries Act...

        17. Nuclear Industry (Finance) Act 1977 (c. 7)

            1. 17. In section 3 of the Nuclear Industry (Finance) Act 1977...

        18. Coal Industry Act 1977 (c. 39)

            1. 18. In section 14(1) of the Coal Industry Act 1977 (interpretation),...

        19. Shipbuilding (Redundancy Payments) Act 1978 (c. 11)

            1. 19. In section 1(4) of the Shipbuilding (Redundancy Payments) Act 1978...

        20. Capital Gains Tax Act 1979 (c. 14)

            1. 20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        21. Crown Agents Act 1979 (c. 43)

            1. 21. In section 31(1) of the Crown Agents Act 1979 (interpretation),...

        22. Competition Act 1980 (c. 21)

            1. 22. In sections 11(3)(f) and 12 of the Competition Act 1980...

        23. British Aerospace Act 1980 (c. 26)

            1. 23. In section 14(1) of the British Aerospace Act 1980 (interpretation)—...

        24. Local Government, Planning and Land Act 1980 (c. 65)

            1. 24. In sections 100(1), 141(7) and 170(1)(d) and (2) of the...

        25. British Telecommunications Act 1981 (c. 38)

            1. 25. In section 85 of the British Telecommunications Act 1981 (interpretation),...

        26. Transport Act 1981 (c. 56)

            1. 26. In section 4(2) of the Transport Act 1981 (interpretation of...

        27. Value Added Tax Act 1983 (c. 55)

            1. 27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        28. Telecommunications Act 1984 (c. 12)

            1. 28. In section 73(1) of the Telecommunications Act 1984 (interpretation of...

        29. London Regional Transport Act 1984 (c. 32)

            1. 29. In section 68 of the London Regional Transport Act 1984...

        30. Inheritance Tax Act 1984 (c. 51)

            1. 30. (1) The Inheritance Tax Act 1984 is amended as follows....

        31. Ordnance Factories and Military Services Act 1984 (c. 59)

            1. 31. In section 14 of the Ordnance Factories and Military Services...

        32. Companies Act 1985 (c. 6)

            1. 32. (1) The following provisions have effect with respect to the...

            2. 33. . . . . . . . . . ....

            3. 34. Section 293 of the Companies Act 1985 (age limit for...

            4. 35. Nothing in section 144(1) affects the operation of Part XIIIA...

            5. 36. For the purposes of section 719 of the Companies Act...

            6. 37. . . . . . . . . . ....

            7. 38. . . . . . . . . . ....

        33. Transport Act 1985 (c. 67)

            1. 39. In section 137(1) of the Transport Act 1985 (interpretation), in...

        34. Housing Act 1985 (c. 68)

            1. 40. In section 622 of the Housing Act 1985 (minor definitions:...

        35. Housing Associations Act 1985 (c. 69)

            1. 41. In section 101 of the Housing Associations Act 1985 (minor...

        36. Atomic Energy Authority Act 1986 (c. 3)

            1. 42. In section 9 of the Atomic Energy Authority Act 1986...

        37. Airports Act 1986 (c. 31)

            1. 43. In section 82 of the Airports Act 1986 (general interpretation),...

        38. Gas Act 1986 (c. 44)

            1. 44. In the Gas Act 1986— (a) in section 48(1) (interpretation...

        39. Building Societies Act 1986 (c. 53)

            1. 45. In section 119 of the Building Societies Act 1986 (interpretation),...

        40. Income and Corporation Taxes Act 1988 (c. 1)

            1. 46. In section 141 of the Income and Corporation Taxes Act...

        41. British Steel Act 1988 (c. 35)

            1. 47. In section 15(1) of the British Steel Act 1988 (interpretation),...

    19. SCHEDULE 19

        Minor amendments of the Companies Act 1985

        1. Correction of cross-reference

           1. 1. In section 321 of the Companies Act 1985 (exceptions from...

        2. Particulars to be given of directors and secretaries

           1. 2. . . . . . . . . . ....

           2. 3. . . . . . . . . . ....

           3. 4. . . . . . . . . . ....

           4. 5. . . . . . . . . . ....

           5. 6. . . . . . . . . . ....

           6. 7. . . . . . . . . . ....

        3. Transactions with directors not requiring authorisation

           1. 8. . . . . . . . . . ....

        4. Time limit for holding extraordinary general meeting convened on members’ requisition

           1. 9. In section 368 of the Companies Act 1985 (extraordinary general...

        5. Removal of restriction on transfer of shares

           1. 10. (1) In section 456(3) of the Companies Act 1985 (removal...

        6. Protection of company’s members against unfair prejudice

           1. 11. In Part XVII of the Companies Act 1985 (protection of...

        7. Requirements for registration by joint stock companies

           1. 12. In section 684(1) of the Companies Act 1985 (requirements for...

        8. Delivery of documents by oversea companies

           1. 13. In Chapter I of Part XXIII of the Companies Act...

        9. Companies’ registered numbers

           1. 14. For section 705 of the Companies Act 1985 (Companies’ registered...

        10. Exemptions from limit of 20 on members of partnership

            1. 15. (1) Section 716 of the Companies Act 1985 (prohibition of...

            2. 16. (1) Section 717 of the Companies Act 1985 (limited partnerships:...

        11. Meaning of “officer who is in default”

            1. 17. In section 730 of the Companies Act 1985 (punishment of...

        12. Offences committed by partnerships and other unincorporated bodies

            1. 18. In section 734 of the Companies Act 1985 (criminal proceedings...

        13. Meaning of “office copy” in Scotland

            1. 19. In Part XXVI of the Companies Act 1985 (interpretation), after...

        14. Index of defined expressions

            1. 20. In Part XXVI of the Companies Act 1985 (interpretation), after...

        15. Fraudulent trading by unregistered companies

            1. 21. In Schedule 22 to the Companies Act 1985 (provisions applying...

    20. SCHEDULE 20

        Amendments about mergers and related matters

        1. Fair Trading Act 1973 (c. 41)

           1. 1. In section 46 of the Fair Trading Act 1973, subsection...

           2. 2. (1) In section 60 of that Act—

           3. 3. In section 63(1) of that Act, for “to 75 of...

           4. 4. In section 66 of that Act— (a) in subsections (1)...

           5. 5. (1) In section 67 of that Act, in subsection (2)(a),...

           6. 6. In section 68(4) of that Act, after “the Secretary of...

           7. 7. In section 71 of that Act— (a) in subsection (1)...

           8. 8. In section 74(1) of that Act— (a) the words “and...

           9. 9. In section 75(4) of that Act— (a) after “sections 66”...

           10. 10. Paragraphs 4 to 9 (and the repeals in Schedule 24...

           11. 11. At the end of section 76 of that Act there...

           12. 12. (1) In section 83 of that Act, after subsection (3)...

           13. 13. (1) In section 85 of that Act, for subsection (7)...

           14. 14. (1) In section 88 of that Act, in subsection (1)...

           15. 15. (1) In section 89 of that Act, in subsection (1),...

           16. 16. (1) Section 90 of that Act is amended as follows....

           17. 17. In section 132(1) of that Act, after “85(6)” there is...

           18. 18. (1) In Schedule 3 to that Act, in paragraph 16(2)...

           19. 19. (1) Schedule 8 to that Act is amended as follows....

           20. 20. (1) In Schedule 9 to that Act, in paragraph 4...

        2. Competition Act 1980 (c. 21)

           1. 21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

           2. 22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

           3. 23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

           4. 24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        3. Telecommunications Act 1984 (c. 12)

           1. 25. (1) In section 13(9) of the Telecommunications Act 1984, after...

        4. Financial Services Act 1986 (c. 60)

           1. 26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    21. SCHEDULE 21

        1. Part I U.K. investment exchanges

           1. Default Rules

              1. 1.

           2. Content of rules

              1. 2.

           3. Notification to other parties affected

              1. 3.

           4. Application of default rules to designated non-members

              1. 4.

           5. Delegation of functions in connection with default procedures

              1. 5.

           6. Co-operation with other authorities

              1. 6.

           7. Margin

              1. 7.

        2. Part II U.K. clearing houses

           1. Default rules

              1. 8.

           2. Content of rules

              1. 9.

              2. 10.

           3. Notification to other parties affected

              1. 11.

           4. Delegation of functions in connection with default procedures

              1. 12.

           5. Co-operation with other authorities

              1. 13.

           6. Margin

              1. 14.

        3. Part III Overseas investment exchanges and clearing houses

           1. 15.

    22. SCHEDULE 22

        1. Introductory

           1. 1.

        2. Recognised investment exchanges and clearing houses

           1. 2.

           2. 3.

           3. 4.

           4. 5.

           5. 6.

           6. 7.

           7. 8.

        3. Market charges

           1. 9.

           2. 10.

           3. 11.

           4. 12.

        4. Supplementary provisions

           1. 13.

           2. 14.

           3. 15.

    23. SCHEDULE 23

        1. Part I General Amendments

           1. 1.

           2. 2.

           3. 3.

           4. 4.

           5. 5.

           6. 6.

           7. 7.

           8. 8.

           9. 9.

           10. 10.

           11. 11.

           12. 12.

           13. 13.

           14. 14.

           15. 15.

           16. 16.

           17. 17.

           18. 18.

           19. 19.

           20. 20.

           21. 21.

           22. 22.

           23. 23.

           24. 24.

           25. 25.

        2. Part II Amendments Relating to Friendly Societies

           1. 26.

           2. 27.

           3. 28.

           4. 29.

           5. 30.

           6. 31.

           7. 32.

           8. 33.

           9. 34.

           10. 35.

           11. 36.

           12. 37.

           13. 38.

           14. 39.

           15. 40.

           16. 41.

           17. 42.

           18. 43.

    24. SCHEDULE 24

        Repeals