Transas Group Act 2003

2003 CHAPTER v

An Act to enable the transfer to a company registered in the Republic of Ireland of the incorporations and undertakings of Transas Dataco Limited, Transas Eurasia Limited, Transas Marine Limited, Transas Technology Limited and Transas Telematics Limited; for the cesser of application to those companies of provisions of the Companies Act 1985; and for incidental purposes.

[20th November 2003]

Whereas—

(1) Transas Holdings Limited is a company registered in the Isle of Man:

(2) Transas Dataco Limited, Transas Eurasia Limited, Transas Marine Limited, Transas Technology Limited and Transas Telematics Limited (together referred to as “the Companies”) are each companies within the meaning of the Companies Act 1985 (c. 6), and are each companies limited by shares:

(3) Each of the Companies is a direct or indirect subsidiary of Transas Holdings Limited:

(4) The registered offices of each of the Companies are situated in England:

(5) Transas Dataco Limited carries on principally the business of the production and distribution of electronic charts:

(6) Transas Eurasia Limited carries on principally the business of the distribution of simulator training systems:

(7) Transas Marine Limited carries on principally the business of the supply of marine software systems and products:

(8) Transas Technology Limited carries on principally the business of the provision of software services to other subsidiaries of Transas Holdings Limited:

(9) Transas Telematics Limited carries on principally the business of the sale of telecommunications hardware and airwave traffic accounting services:

(10) Transas Limited is a company registered in the Republic of Ireland:

(11) Having regard to the fact that the area of operation of the Companies (except for Transas Marine Limited) is mainly outside the United Kingdom, certain advantages would accrue to certain of the Companies if their incorporations and undertakings were transferred to the Republic of Ireland:

(12) No procedure exists whereby the incorporation of a company to which the Companies Act 1985 (c. 6) applies can be transferred from England to another country:

(13) Under and subject to the law relating to corporations in the Republic of Ireland each of the Companies whose incorporations would be transferred to the Republic of Ireland under this Act will be able, on the passing of this Act, to become incorporated by way of universal transfer in Transas Limited and duly registered in that state:

(14) It is expedient that the other provisions in this Act should be enacted:

(15) The objects of this Act cannot be attained without the authority of Parliament.

May it therefore please your Majesty that it may be enacted, and be it enacted, by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—