The Companies Act 1985 (Modifications for Statutory Water Companies) Regulations 1989

Modifications of Part XIII of the Companies Act 1985

2.  Where a statutory water company applies to the court under section 425(1) of the Companies Act 1985(1) (“the 1985 Act”) with a view to securing an order of the court in respect of a compromise or arrangement in anticipation of provision contained in a memorandum and articles having effect as mentioned in section 101(2)(b) of the Water Act 1989, Part XIII of the 1985 Act shall apply –

(a) with the insertion after the words “no effect until” in section 425(3) of the words “the memorandum and articles come into force by virtue of an order made by the Secretary of State under section 101(2)(c) of the Water Act 1989 and”; and

(b) as if sections 427 to 430 were omitted.

(1)

1985 c. 6; see paragraph 71(1) of Schedule 25 to the Water Act 1989 as to the construction of section 425(6)(a) of the 1985 Act.