The European Public Limited-Liability Company Regulations (Northern Ireland) 2004

Power of the Department where an SE no longer complies with the requirements of Article 7

71.—(1) If it appears that an SE no longer complies with the requirements laid down in Article 7, the Department may direct the SE to regularise its position in accordance with Article 64(1)(a) or (b) within such period as may be specified in the direction.

(2) A direction under paragraph (1) is enforceable by the Department by an application to the High Court for an injunction.

(3) After Article 104A(1) of the Insolvency (Northern Ireland) Order 1989(2) insert –

“Petition for winding up of SE

104B.— “(1) Where –

(a) an SE whose registered office is in Northern Ireland is not in compliance with Article 7 of Council Regulation (EC) No 2157/2001 on the Statute for a European Company (the “EC Regulation”) (location of head office and registered office), and

(b) it appears to the Department that the SE should be wound up,

the Department may present a petition for it to be wound up if the court thinks it is just and equitable for it to be so.

(2) This Article does not apply if the SE is already being wound up by the court.

(3) In this Article “SE” has the same meaning as in the EC Regulation.”.

(4) The Insolvency (Northern Ireland) Order 1989 is consequentially amended as follows –

(a) in Article 104(3) (application for winding up), in paragraph (5)(b) after “104A” insert “or 104B”;

(b) in Schedule A1(4) (moratorium where directors propose voluntary arrangement), in paragraph 23(4)(a), after “104A” insert “or 104B”.

(1)

Article 104A was inserted by Article 8(3) of the Companies (No. 2) (Northern Ireland) Order 1990 (S.I. 1990/1504 (N.I. 10)) and amended by section 79(14) of, and Part II of Schedule 6 to, the Criminal Justice Act 1993 (c. 36) and by S.I. 2001/3649

(2)

S.I. 1989/2405 (N.I. 19)

(3)

Article 104 was amended by Article 26 of, and paragraph 16 of Schedule 2 to, the Criminal Justice (Northern Ireland) Order 1994 (S.I. 1994/2795 (N.I. 15)), by Article 8 of the Companies (No. 2) (Northern Ireland) Order 1990 (S.I. 1990/1504 (N.I. 10)), by Article 3 of, and paragraph 8 of Schedule 1 to, the Insolvency (Northern Ireland) Order 2002 (S.I. 2002/3152 (N.I. 6)) and by S.R. 2002 No. 334

(4)

Schedule A1 was inserted by Article 3 of, and paragraph 5 of Schedule 1 to, the Insolvency (Northern Ireland) Order 2002