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(1)This section applies to any limited company which—
(a)is incorporated outside the United Kingdom and Gibraltar, and
(b)has a branch in Great Britain.
(2)Schedule 21A to this Act (Branch registration under the Eleventh Company Law Directive (89/666/EEC)) shall have effect in relation to any company to which this section applies.]
Textual Amendments
F1Ss. 690A, 690B inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para.2.
Sections 691 and 692 shall not apply to any limited company which—
(a)is incorporated outside the United Kingdom and Gibraltar, and
(b)has a branch in the United Kingdom.
Textual Amendments
F2Ss. 690A, 690B inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para.2.
(1)When a company incorporated outside Great Britain establishes a place of business in Great Britain, it shall within one month of doing so deliver to the registrar of companies for registration—
(a)a certified copy of the charter, statutes or memorandum and articles of the company or other instrument constituting or defining the company’s constitution, and, if the instrument is not written in the English language, a certified translation of it; and
(b)a return in the prescribed form containing—
(i)a list of the company’s directors and secretary, containing [F3(subject to subsection (5)).] the particulars specified in the next subsection,
(ii)a list of the names and addresses of some one or more persons resident in Great Britain authorised to accept on the company’s behalf service of process and any notices required to be served on it,
(iii)a list of the documents delivered in compliance with paragraph (a) of this subsection, and
(iv)[F4subject to subsection (3A),]a statutory declaration (made by a director or secretary of the company or by any person whose name and address are given in the list required by sub-paragraph (ii)), stating the date on which the company’s place of business in Great Britain was established.
[F5(2)The list referred to in subsection (1)(b)(i) shall contain the following particulars with respect to each director—
(a)in the case of an individual—
(i)his name,
(ii)any former name,
(iii)his usual residential address,
(iv)his nationality,
(v)his business occupation (if any),
(vi)if he has no business occupation but holds other directorships, particulars of them, and
(vii)his date of birth;
(b)in the case of a corporation or Scottish firm, its corporate or firm name and registered or principal office.
(3)The list referred to in subsection (1)(b)(i) shall contain the following particulars with respect to the secretary (or, where there are joint secretaries, with respect to each of them)—
(a)in the case of an individual, his name, any former name and his usual residential address;
(b)in the case of a corporation or Scottish firm, its corporate or firm name and registered or principal office.
Where all the partners in a firm are joint secretaries of the company, the name and principal office of the firm may be stated instead of the particulars required by paragraph (a).
[F6(3A)In place of the statutory declaration referred to in sub-paragraph (iv) of paragraph (b) of subsection (1), there may be delivered to the registrar of companies using electronic communications a statement made by any person by whom the declaration could have been made stating the date on which the company’s place of business in Great Britain was established.]
(4)In subsections (2)(a) and (3)(a) above—
(a)“name” means a person’s Christian name (or other forename) and surname, except that in the case of a peer, or an individual usually known by a title, the title may be stated instead of his Christian name (or other forename) and surname, or in addition to either or both of them; and
(b)the reference to a former name does not include—
(i)in the case of a peer, or an individual normally known by a British title, the name by which he was known previous to the adoption of or succession to the title, or
(ii)in the case of any person, a former name which was changed or disused before he attained the age of 18 years or which has been changed or disused for 20 years or more, or
(iii)in the case of a married woman, the name by which she was known previous to the marriage.]
[F7(4A)Any person who makes a false statement under subsection (3A) which he knows to be false or does not believe to be true is liable to imprisonment or a fine, or both.]
[F8(5)Where a confidentiality order made under section 723B is in force in respect of a director or secretary required to be specified in the list under subsection (1)(b)(i)—
(a)if the order is in respect of a director, subsection (2) has effect in respect of that director as if the reference in subsection (2)(a)(iii) to his usual residential address were a reference to the address for the time being notified by him to the company under regulations made under sections 723B to 723F;
(b)if the order is in respect of a secretary, subsection (3) has effect in respect of that secretary as if the reference in subsection (3)(a) to his usual residential address were a reference to the address for the time being notified by him to the company under such regulations; and
(c)in either case the company shall deliver to the registrar, in addition to the return required by subsection (1), a return in the prescribed form containing the usual residential address of the director or secretary to whom the confidentiality order relates, and any such return shall be delivered to the registrar within one month of the company establishing a place of business in Great Britain.]
Textual Amendments
F3Words in s. 691(1)(b)(i) inserted (2.4.2002) by The Companies (Particulars of Usual Residential Address) (Confidentiality Orders) Regulations 2002 (S.I. 2002/912), reg. 16, Sch. 2 para. 5(2)
F4Words in s. 691(1)(b)(iv) inserted (22.12.2000) by S.I. 2000/3373, art. 26(1)(2)
F5S. 691(2) substituted (subject to the transitional and saving provisions in S.I. 1990/1707, art. 6) by Companies Act 1989 (c. 40, SIF 27), ss. 145, 213(2), Sch. 19 para. 6
F6S. 691(3A) inserted (22.12.2000) by S.I. 2000/3373, art. 26(1)(3)
F7S. 691(4A) inserted (22.12.2000) by S.I. 2000/3373, art. 26(1)(4)
F8S. 691(5) inserted (2.4.2002) by The Companies (Particulars of Usual Residential Address) (Confidentiality Orders) Regulations 2002 (S.I. 2002/912), reg. 16, Sch. 2 para. 5(3)
Modifications etc. (not altering text)
C1S. 691 modified (1.1.1993) by S.I. 1992/3179, reg. 5, Sch. 4 para. 1(5)(7).
(1)If any alteration is made in—
(a)the charter, statutes, or memorandum and articles of an oversea company or any such instrument as is mentioned above, or
(b)the directors or secretary of an oversea company or the particulars contained in the list of the directors and secretary, or
(c)the names or addresses of the persons authorised to accept service on behalf of an oversea company,
the company shall, within the time specified below, deliver to the registrar of companies for registration a return containing the prescribed particulars of the alteration.
[F9(1A)If an individual in respect of whom a confidentiality order under section 723B is in force becomes a director or secretary of an oversea company—
(a)the return required to be delivered to the registrar under subsection (1) shall contain the address for the time being notified by the director or secretary to the company under regulations made under sections 723B to 723F, but shall not contain his usual residential address; and
(b)with that return the company shall deliver to the registrar a return in the prescribed form containing the usual residential address of that director or secretary.
(1B)If a confidentiality order under section 723B is made in respect of an existing director or secretary of an oversea company, the company shall within the time specified below deliver to the registrar of companies for registration a return in the prescribed form containing the address for the time being notified to it by the director or secretary under regulations made under sections 723B to 723F.
(1C)If while a confidentiality order made under section 723B is in force in respect of a director or secretary of an oversea company there is an alteration in his usual residential address, the company shall within the time specified below deliver to the registrar of companies for registration a return in the prescribed form containing the new address.]
(2)If any change is made in the corporate name of an oversea company, the company shall, within the time specified below, deliver to the registrar of companies for registration a return containing the prescribed particulars of the change.
(3)The time for delivery of the returns required by subsections (1) [F10, (1B), (1C)] and (2) is—
(a)in the case of an alteration to which subsection (1)(c) applies, 21 days after the making of the alteration, and
(b)otherwise, 21 days after the date on which notice of the alteration or change in question could have been received in Great Britain in due course of post (if despatched with due diligence).
Textual Amendments
F9S. 692(1A)-(1C) inserted (2.4.2002) by The Companies (Particulars of Usual Residential Address) (Confidentiality Orders) Regulations 2002 (S.I. 2002/912), reg. 16, Sch. 2 para. 6(2)
F10Words in s. 692(3) inserted (2.4.2002) by The Companies (Particulars of Usual Residential Address) (Confidentiality Orders) Regulations 2002 (S.I. 2002/912), reg. 16, Sch. 2 para. 6(3)
Modifications etc. (not altering text)
C2S. 692 modified (1.1.1993) by S.I. 1992/3179, reg. 5, Sch. 4 para. 1(5)(7).
(1)Where a company ceases to be a company to which section 690A applies and, immediately after ceasing to be such a company—
(a)continues to have in Great Britain a place of business which it had immediately before ceasing to be such a company, and
(b)does not have a branch in Northern Ireland,
it shall be treated for the purposes of section 691 as having established the place of business on the date when it ceased to be a company to which section 690A applies.
(2)Where a limited company incorporated outside the United Kingdom and Gibraltar—
(a)ceases to have a branch in Northern Ireland, and
(b)both immediately before and immediately after ceasing to do so, has a place of business, but not a branch, in Great Britain,
it shall be treated for the purposes of section 691 as having established the place of business on the date when it ceased to have a branch in Northern Ireland.
(3)Where a company—
(a)becomes a company to which section 690A applies,
(b)immediately after becoming such a company, has in a part of Great Britain an established place of business but no branch, and
(c)immediately before becoming such a company, had an established place of business in that part,
sections 691 and 692 shall, in relation to that part, continue to apply to the company (notwithstanding section 690B) until such time as it gives notice to the registrar for that part that it is a company to which that section applies.
(4)Schedule 21B to this Act (transitional provisions in relation to change in registration regime) shall have effect.]
Textual Amendments
F11S. 692A inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para.4.
(1)Every oversea company shall—
[F13(a)in every prospectus inviting subscriptions for its shares or debentures in Great Britain, state the country in which the company is incorporated,]
(b)conspicuously exhibit on every place where it carries on business in Great Britain the company’s name and the country in which it is incorporated,
(c)cause the company’s name and the country in which it is incorporated to be stated in legible characters in all bill-heads and letter paper, and in all notices and other official publications of the company, and
(d)if the liability of the members of the company is limited, cause notice of that fact to be stated in legible characters [F14in every such prospectus as above mentioned and] in all bill-heads, letter paper, notices and other official publications of the company in Great Britain, and to be affixed on every place where it carries on its business.
[F15(2)Every company to which section 690A applies shall, in the case of each branch of the company registered under paragraph 1 of Schedule 21A, cause the following particulars to be stated in legible characters in all letter paper and order forms used in carrying on the business of the branch—
(a)the place of registration of the branch, and
(b)the registered number of the branch.
(3)Every company to which section 690A applies, which is not incorporated in a Member State and which is required by the law of the country in which it is incorporated to be registered shall, in the case of each branch of the company registered under paragraph 1 of Schedule 21A, cause the following particulars to be stated in legible characters in all letter paper and order forms used in carrying on the business of the branch—
(a)the identity of the registry in which the company is registered in its country of incorporation, and
(b)the number with which it is registered.
(4)Every company to which section 690A applies and which is not incorporated in a Member State shall, in the case of each branch of the company registered under paragraph 1 of Schedule 21A, cause the following particulars to be stated in legible characters in all letter paper and order forms used in carrying on the business of the branch—
(a)the legal form of the company,
(b)the location of its head office, and
(c)if applicable, the fact that it is being wound up.]
Textual Amendments
F12S. 693 became s. 693(1) (1.1.1993) by virtue of S.I. 1992/3179, reg. 3, Sch. 2 para.6.
F13S. 693(a) repealed by Financial Services Act 1986 (c. 60, SIF 69), s. 212(3), Sch. 17 Pt. I (the repeal being or coming into force as mentioned in S.I. 1986/2246, art. 5, Sch. 4, S.I. 1988/740, art. 2, Sch., S.I. 1988/1960, art. 4 (as amended) and S.I. 1988/2285, art. 5 and being otherwise (prosp.))
F14Words repealed by Financial Services Act 1986 (c. 60, SIF 69), s. 212(3), Sch. 17 Pt. I (the repeal being or coming into force as mentioned in S.I. 1986/2246, art. 5, Sch. 4, S.I. 1988/740, art. 2, Sch., S.I. 1988/1960, art. 4 (as amended) and S.I. 1988/2285, art. 5 and being otherwise (prosp.))
F15S. 693(2)-(4) inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para.6.
Modifications etc. (not altering text)
C3S. 693 applied (with modifications) (6.4.2001) by S.I. 2001/1090, reg. 4, Sch. 2 Pt. I
C4S. 693(1)(a) modified by S.I. 1991/823, reg. 2(1), Sch. 1
C5S. 693(1)(a)(d) applied (19.6.1995) by S.I. 1995/1537, reg. 20, Sch. 4 Pt. III para. 12
C6S. 693(1)(d) modified by S.I. 1991/823, reg. 2(1), Sch. 1
(1)If it appears to the Secretary of State that the corporate name of an oversea company is a name by which the company, had it been formed under this Act, would on the relevant date [F16(determined in accordance with subsections (3A) and (3B))] have been precluded from being registered by section 26 either—
(a)because it falls within subsection (1) of that section, or
(b)if it falls within subsection (2) of that section, because the Secretary of State would not approve the company’s being registered with that name,
the Secretary of State may serve a notice on the company, stating why the name would not have been registered.
(2)If the corporate name of an oversea company is in the Secretary of State’s opinion too like a name appearing on the relevant date in the index of names kept by the registrar of companies under section 714 or which should have appeared in that index on that date, or is the same as a name which should have so appeared, the Secretary of State may serve a notice on the company specifying the name in the index which the company’s name is too like or which is the same as the company’s name.
(3)No notice shall be served on a company under subsection (1) or (2) later than 12 months after the relevant date F17. . .
[F18(3A)For the purposes of subsections (1) to (3), the relevant date, in relation to a company, is the date on which it has complied with paragraph 1 of Schedule 21A or section 691(1) or, if there is more than one such date, the first date on which it has complied with that paragraph or that subsection since becoming an oversea company.
(3B)But where the company’s corporate name has changed since the date ascertained in accordance with subsection (3A), the relevant date is the date on which the company has, in respect of the change or, if more than one, the latest change, complied with paragraph 7(1) of Schedule 21A or section 692(2), as the case may be.]
(4)An oversea company on which a notice is served under subsection (1) or (2)—
(a)may deliver to the registrar of companies for registration a statement in the prescribed form specifying a name approved by the Secretary of State other than its corporate name under which it proposes to carry on business in Great Britain, and
(b)may, after that name has been registered, at any time deliver to the registrar for registration a statement in the prescribed form specifying a name approved by the Secretary of State (other than its corporate name) in substitution for the name previously registered.
(5)The name by which an oversea company is for the time being registered under subsection (4) is, for all purposes of the law applying in Great Britain (including this Act and the M1Business Names Act 1985), deemed to be the company’s corporate name; but—
(a)this does not affect references to the corporate name in this section, or any rights or obligations of the company, or render defective any legal proceedings by or against the company, and
(b)any legal proceedings that might have been continued or commenced against the company by its corporate name or its name previously registered under this section may be continued or commenced against it by its name for the time being so registered.
(6)An oversea company on which a notice is served under subsection (1) or (2) shall not at any time after the expiration of 2 months from the service of that notice (or such longer period as may be specified in that notice) carry on business in Great Britain under its corporate name.
Nothing in this subsection or in section 697(2) (which imposes penalties for its contravention) invalidates any transaction entered into by the company.
(7)The Secretary of State may withdraw a notice served under subsection (1) or (2) at any time before the end of the period mentioned in subsection (6); and that subsection does not apply to a company served with a notice which has been withdrawn.
Textual Amendments
F16Words in s. 694(1) substituted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para. 7(2).
F17S. 694(3)(a)(b) and words repealed (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para. 7(3).
F18S. 694(3A)(3B) inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para. 7(4).
Modifications etc. (not altering text)
C7S. 694 extended (with modifications) by S.I. 1989/638, regs. 18, 21, Sch. 4 para. 14
C8S. 694(4) extended with modifications by Banking Act 1987 (c. 22, SIF 10), ss. 72(1)(2), 78(1)(2)
Marginal Citations
(1)This section applies to any company to which section 690A applies.
(2)Any process or notice required to be served on a company to which this section applies in respect of the carrying on of the business of a branch registered by it under paragraph 1 of Schedule 21A is sufficiently served if—
(a)addressed to any person whose name has, in respect of the branch, been delivered to the registrar as a person falling within paragraph 3(e) of that Schedule, and
(b)left at or sent by post to the address for that person which has been so delivered.
(3)Where—
(a)a company to which this section applies makes default, in respect of a branch, in delivering to the registrar the particulars mentioned in paragraph 3(e) of Schedule 21A, or
(b)all the persons whose names have, in respect of a branch, been delivered to the registrar as persons falling within paragraph 3(e) of that Schedule are dead or have ceased to reside in Great Britain, or refuse to accept service on the company’s behalf, or for any reason cannot be served,
a document may be served on the company in respect of the carrying on of the business of the branch by leaving it at, or sending it by post to, any place of business established by the company in Great Britain.
(4)Where a company to which this section applies has more than one branch in Great Britain, any notice or process required to be served on the company which is not required to be served in respect of the carrying on of the business of one branch rather than another shall be treated for the purposes of this section as required to be served in respect of the carrying on of the business of each of its branches.]
Textual Amendments
F19S. 694A inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para.8.
(1)Any process or notice required to be served on an oversea company [F20to which section 691 applies] is sufficiently served if addressed to any person whose name has been delivered to the registrar under preceding sections in this Part and left at or sent by post to the address which has been so delivered.
(2)However—
(a)where such a company makes default in delivering to the registrar the name and address of a person resident in Great Britain who is authorised to accept on behalf of the company service of process or notices, or
(b)if at any time all the persons whose names and addresses have been so delivered are dead or have ceased so to reside, or refuse to accept service on the company’s behalf, or for any reason cannot be served,
a document may be served on the company by leaving it at, or sending it by post to, any place of business established by the company in Great Britain.
Textual Amendments
F20Words in s. 695(1) inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para.9.
(1)References to the registrar, in relation to a company to which section 690A applies, (except references in Schedule 21C) shall be construed in accordance with the following provisions.
(2)The documents which a company is required to deliver to the registrar shall be delivered—
(a)to the registrar for England and Wales, if required to be delivered in respect of a branch in England and Wales, and
(b)to the registrar for Scotland, if required to be delivered in respect of a branch in Scotland.
(3)If a company closes a branch in a part of Great Britain, it shall forthwith give notice of that fact to the registrar for that part; and from the date on which notice is so given it is no longer obliged to deliver documents to that registrar in respect of that branch.
(4)In subsection (3) above, the reference to closing a branch in either part of Great Britain includes a reference to a branch ceasing to be situated in that part on becoming situated elsewhere.]
Textual Amendments
F21S. 695A inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para.10.
(1)Any document which an oversea company [F23to which section 691 applies;] is required to deliver to the registar of companies shall be delivered to the registrar at the registration office in England and Wales or Scotland, according to where the company has established a place of business.
(2)If the company has established a place of business both in England and Wales and in Scotland, the document shall be delivered at the registration office both in England and Wales and in Scotland.
(3)References in this Part [F24(except references in Schedule 21C)] to the registrar of companies [F25, in relation to a company to which section 691 applies,] are to be construed in accordance with the above subsections.
(4)If an oversea company [F26to which section 691 applies] ceases to have a place of business in either part of Great Britain, it shall forthwith give notice of that fact to the registrar of companies for that part; and as from the date on which notice is so given the obligation of the company to deliver any document to the registrar ceases.
Textual Amendments
F22A new s. 696 commencing “References to" substituted (prosp.) for s. 696 commencing “Any document" by Companies Act 1989 (c. 40, SIF 27), ss. 145, 213(2), 215(2), Sch. 19 para. 13
F23Words in s. 696(1) inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para. 11(a).
F24Words in s. 696(3) inserted (1.1.1993) by S.I. 1992/3179, reg. 4, Sch. 3 para.4.
F25Words in s. 696(3) inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para. 11(b).
F26Words in s. 696(4) inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para. 11(c).
(1)If an oversea company fails to comply with any of sections 691 to 693 and 696, the company, and every officer or agent of the company who knowingly and wilfully authorises or permits the default, is liable to a fine and, in the case of a continuing offence, to a daily default fine for continued contravention.
(2)If an oversea company contravenes section 694(6), the company and every officer or agent of it who knowingly and wilfully authorises or permits the contravention is guilty of an offence and liable to a fine and, for continued contravention, to a daily default fine.
[F27(3)if an oversea company fails to comply with section 695A or Schedule 21A, the company, and every officer or agent of the company who knowingly and wilfully authorises or permits the default, is liable to a fine and, in the case of a continuing offence, to a daily default fine for continued contravention]
Textual Amendments
F27S. 697(3) inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para.12.
Modifications etc. (not altering text)
C9S. 697(2) extended (with modifications) by S.I. 1989/638, regs. 18, 21, Sch. 4 paras. 15, 16, 17
(1)For purposes of this Chapter—
“certified” means certified in the prescribed manner to be a true copy or a correct translation;
“director”, in relation to an oversea company, includes shadow director; and
“secretary” includes any person occupying the position of secretary by whatever name called.
[F30(2)For the purposes of this Part (except section 699A and Schedule 21C):
(a)where a branch comprises places of business in more than one part of the United Kingdom, the branch shall be treated as being situated in that part of the United Kingdom where its principal place of business is situated; and
(b)“branch” means a branch within the meaning of the Council Directive concerning disclosure requirements in respect of branches opened in a Member State by certain types of company governed by the law of another State (the Eleventh Company Law Directive, 89/666/EEC)]
Textual Amendments
F28S. 698: words in the sidenote omitted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para. 13(2).
F29S. 698 became s. 698(1) (1.1.1993) by virtue of S.I. 1992/3179, reg. 3, Sch. 2 para. 13(2).
F30S. 698(2) inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para. 13(3).
(1)With the exceptions specified in subsection (3) below, the provisions of this Act requiring documents to be forwarded or delivered to or filed with the registrar of companies and applying to companies formed and registered under Part I apply also (if they would not otherwise) to an oversea company [F31to which section 691 applies] incorporated in the Channel Islands or the Isle of Man.
(2)Those provisions apply to such a company—
(a)if it has established a place of business in England and Wales, as if it were registered in England and Wales,
(b)if it has established a place of business in Scotland, as if it were registered in Scotland, and
(c)if it has established a place of business both in England and Wales and in Scotland, as if it were registered in both England and Wales and Scotland,
with such modifications as may be necessary and, in particular, apply in a similar way to documents relating to things done outside Great Britain as if they had been done in Great Britain.
(3)The exceptions are—
section 6(1) (resolution altering company’s objects),
section 18 (alteration of memorandum or articles by statute or statutory instrument),
[F32section 242(1)] (directors’ duty to file accounts),
section 288(2) (notice to registrar of change of directors or secretary), and
section 380 (copies of certain resolutions and agreements to be sent to registrar within 15 days), so far as applicable to a resolution altering a company’s memorandum or articles.
Textual Amendments
F31Words in s. 699(1) inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para.14.
F32Words substituted (subject to the transitional and saving provisions in S.I. 1990/355, arts. 6–9, Sch. 3 para. 1) by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 12
Textual Amendments
F33Pt. XXIII Chap. II (ss. 700–703) substituted (subject to the transitional and saving provisions in S.I. 1990/355, arts. 6–9, Sch. 3 para. 3) by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 13
(1)This section applies to any credit or financial institution—
(a)which is incorporated or otherwise formed outside the United Kingdom and Gibraltar,
(b)whose head office is outside the United Kingdom and Gibraltar, and
(c)which has a branch in Great Britain.
(2)Schedule 21C (delivery of accounts and reports) shall have effect in relation to any institution to which this section applies.
(3)In this section—
“branch”, in relation to a credit or financial institution, means a place of business which forms a legally dependent part of the institution and which conducts directly all or some of the operations inherent in its business;
[F35“credit institution” means a credit institution as defined in [F36article 1(1)(a)] of Directive 2000/12/EC of the European Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit of the business of credit institutions, that is to say an undertaking whose business is to receive deposits or other repayable funds from the public and to grant credits for its own account;]
“financial institution”means a financial institution within the meaning of Article 1 of the Council Directive on the obligations of branches established in a Member State of credit and financial institutions having their head offices outside that Member State regarding the publication of annual accounting documents (the Bank Branches Directive, 89/117/EEC); and
“undertaking” has the same meaning as in Part VII.]
Textual Amendments
F34S. 699A inserted (1.1.1993) by S.I. 1992/3179, reg. 2(1).
F35Definition of "credit institution" in s. 699A(3) substituted (22.11.2000) by S.I. 2000/2952, reg. 2(3)
F36S. 699A(3): words in definition of "credit institution" substituted (27.4.2002) by The Electronic Money (Miscellaneous Amendments) Regulations 2002 (S.I. 2002/765), reg. 2(3)
(1)This section applies to any limited company which—
(a)is incorporated outside the United Kingdom and Gibraltar,
(b)has a branch in Great Britain, and
(c)is not an institution to which section 699A applies.
(2)Schedule 21D to this Act (delivery of accounts and reports) shall have effect in relation to any company to which this section applies.]
Textual Amendments
F37S. 699AA inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para.16.
Sections 700 to 703 shall not apply to any institution to which section 699A applies [F39or to any limited company which is incorporated outside the United Kingdom and Gibraltar and has a branch in the United Kingdom]].
Textual Amendments
F38S. 699B inserted (1.1.1993) by S.I. 1992/3179, reg. 2(1).
F39Words in s. 699B inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para.17.
(1)Every oversea company shall in respect of each financial year of the company prepare the like accounts and directors’ report, and cause to be prepared such an auditors’ report, as would be required if the company were formed and registered under this Act.
(2)The Secretary of State may by order—
(a)modify the requirements referred to in subsection (1) for the purpose of their application to oversea companies;
(b)exempt an oversea company from those requirements or from such of them as may be specified in the order.
(3)An order may make different provision for different cases or classes of case and may contain such incidental and supplementary provisions as the Secretary of State thinks fit.
(4)An order under this section shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.
Modifications etc. (not altering text)
C10S. 700 modified (1.1.1993) by S.I. 1992/3179, reg. 5, Sch. 4 para. 4(2).
C11S. 700(1) modified by S.I. 1990/440, art. 2, Sch.
(1)Sections 223 to 225 (financial year and accounting reference periods) apply to an oversea company, subject to the following modifications.
(2)For the references to the incorporation of the company substitute references to the company establishing a place of business in Great Britain.
(3)Omit section 225(4) (restriction on frequency with which current accounting reference period may be extended).]
Textual Amendments
F40Pt. XXIII Chap. II (ss. 700–703) substituted (subject to the transitional and saving provisions in S.I. 1990/355, arts. 6–9, Sch. 3 para. 3) by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 13
Modifications etc. (not altering text)
C12S. 701 modified (1.1.1993) by S.I. 1992/3179, reg. 5, Sch. 4 para. 4(2).
(1)An oversea company shall in respect of each financial year of the company deliver to the registrar copies of the accounts and reports prepared in accordance with section 700.
If any document comprised in those accounts or reports is in a language other than English, the directors shall annex to the copy delivered a translation of it into English, certified in the prescribed manner to be a correct translation.
(2)In relation to an oversea company the period allowed for delivering accounts and reports is 13 months after the end of the relevant accounting reference period.
This is subject to the following provisions of this section.
(3)If the relevant accounting reference period is the company’s first and is a period of more than 12 months, the period allowed is 13 months from the first anniversary of the company’s establishing a place of business in Great Britain.
(4)If the relevant accounting period is treated as shortened by virtue of a notice given by the company under section 225 (alteration of accounting reference date), the period allowed is that applicable in accordance with the above provisions or three months from the date of the notice under that section, whichever last expires.
(5)If for any special reason the Secretary of State thinks fit he may, on an application made before the expiry of the period otherwise allowed, by notice in writing to an oversea company extend that period by such further period as may be specified in the notice.
(6)In this section “the relevant accounting reference period” means the accounting reference period by reference to which the financial year for the accounts in question was determined.]
Textual Amendments
F41Pt. XXIII Chap. II (ss. 700–703) substituted (subject to the transitional and saving provisions in S.I. 1990/355, arts. 6–9, Sch. 3 para. 3) by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 13
Modifications etc. (not altering text)
C13S. 702 modified (1.1.1993) by S.I. 1992/3179, reg. 5, Sch. 4 para. 4(2).
(1)If the requirements of section 702(1) are not complied with before the end of the period allowed for delivering accounts and reports, or if the accounts and reports delivered do not comply with the requirements of this Act, the company and every person who immediately before the end of that period was a director of the company is guilty of an offence and liable to a fine and, for continued contravention, to a daily default fine.
(2)It is a defence for a person charged with such an offence to prove that he took all reasonable steps for securing that the requirements in question would be complied with.
(3)It is not a defence in relation to a failure to deliver copies to the registrar to prove that the documents in question were not in fact prepared as required by this Act.]
Textual Amendments
F42Pt. XXIII Chap. II (ss. 700–703) substituted (subject to the transitional and saving provisions in S.I. 1990/355, arts. 6–9, Sch. 3 para. 3) by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 13
Modifications etc. (not altering text)
C14S. 703 modified (1.1.1993) by S.I. 1992/3179, reg. 5, Sch. 4 para. 4(2).
Valid from 01/10/2009
Textual Amendments
F43Ss. 651-706 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
Prospective
(1)The provisions of this Chapter have effect for securing the registration in Great Britain of charges on the property of a registered oversea company.
(2)Section 395(2) and (3) (meaning of “charge” and “property”) have effect for the purposes of this Chapter.
(3)A “registered oversea company”, in relation to England and Wales or Scotland, means an oversea company which has duly delivered documents to the registrar for that part of Great Britain under section 691 and has not subsequently given notice to him under section 696(4) that it has ceased to have an established place of business in that part.
(4)References in this Chapter to the registrar shall be construed in accordance with section 703E below and references to registration, in relation to a charge, are to registration in the register kept by him under this Chapter.
Prospective
(1)The charges requiring registration under this Chapter are those which if created by a company registered in Great Britain would require registration under Part XII of this Act.
(2)Whether a charge is one requiring registration under this Chapter shall be determined—
(a)in the case of a charge over property of a company at the date it delivers documents for registration under section 691, as at that date,
(b)in the case of a charge created by a registered oversea company, as at the date the charge is created, and
(c)in the case of a charge over property acquired by a registered oversea company, as at the date of the acquisition.
(3)In the following provisions of this Chapter references to a charge are, unless the context otherwise requires, to a charge requiring registration under this Chapter.
Where a charge not otherwise requiring registration relates to property by virtue of which it requires to be registered and to other property, the references are to the charge so far as it relates to property of the former description.]
Prospective
(1)The registrar shall keep for each registered oversea company a register, in such form as he thinks fit, of charges on property of the company.
(2)The register shall consist of a file containing with respect to each such charge the particulars and other information delivered to the registrar under or by virtue of the following provisions of this Chapter.
(3)Section 397(3) to (5) (registrar’s certificate as to date of delivery of particulars) applies in relation to the delivery of any particulars or other information under this Chapter.]
Prospective
(1)If when an oversea company delivers documents for registration under section 691 any of its property is situtated in Great Britain and subject to a charge, it is the company’s duty at the same time to deliver the prescribed particulars of the charge, in the prescribed form, to the registrar for registration.
(2)Where a registered oversea company—
(a)creates a charge on property situated in Great Britain, or
(b)acquires property which is situated in Great Britain and subject to a charge,
it is the company’s duty to deliver the prescribed particulars of the charge, in the prescribed form, to the registrar for registration within 21 days after the date of the charge’s creation or, as the case may be, the date of the acquisition.
This subsection does not apply if the property subject to the charge is at the end of that period no longer situated in Great Britain.
(3)Where the preceding subsections do not apply and property of a registered oversea company is for a continuous period of four months situated in Great Britain and subject to a charge, it is the company’s duty before the end of that period to deliver the prescribed particulars of the charge, in the prescribed form, to the registrar for registration.
(4)Particulars of a charge required to be delivered under subsections (1), (2) or (3) may be delivered for registration by any person interested in the charge.
(5)If a company fails to comply with subsection (1), (2) or (3), then, unless particulars of the charge have been delivered for registration by another person, the company and every officer of it who is in default is liable to a fine.
(6)Section 398(2), (4) and (5) (recovery of fees paid in connection with registration, filing of particulars in register and sending of copy of particulars filed and note as to date) apply in relation to particulars delivered under this Chapter.]
Prospective
(1)The particulars required to be delivered by section 703D(1) (charges over property of oversea company becoming registered in a part of Great Britain) shall be delivered to the registrar to whom the documents are delivered under section 691.
(2)The particulars required to be delivered by section 703D(2) or (3) (charges over property of registered oversea company) shall be delivered—
(a)if the company is registered in one part of Great Britain and not in the other, to the registrar for the part in which it is registered, and
(b)if the company is registered in both parts of Great Britain but the property subject to the charge is situated in one part of Great Britain only, to the registrar for that part;
and in any other case the particulars shall be delivered to the registrars for both parts of Great Britain.
(3)Other documents required or authorised by virtue of this Chapter to be delivered to the registrar shall be delivered to the registrar or registrars to whom particulars of the charge to which they relate have been, or ought to have been, delivered.
(4)If a company gives notice under section 696(4) that it has ceased to have an established place of business in either part of Great Britain, charges over property of the company shall cease to be subject to the provisions of this Chapter, as regards registration in that part of Great Britain, as from the date on which notice is so given.
This is without prejudice to rights arising by reason of events occurring before that date.]
Prospective
(1)The following provisions of Part XII—
(a)section 399 (effect of failure to deliver particulars),
(b)section 400 (late delivery of particulars), and
(c)section 402 (effect of errors and omissions in particulars delivered),
apply, with the following modifications, in relation to a charge created by a registered oversea company of which particulars are required to be delivered under this Chapter.
(2)Those provisions do not apply to a charge of which particulars are required to be delivered under section 703D(1) (charges existing when company delivers documents under section 691).
(3)In relation to a charge of which particulars are required to be delivered under section 703D(3) (charges registrable by virtue of property being within Great Britain for requisite period), the references to the period of 21 days after the charge’s creation shall be construed as references to the period of four months referred to in that subsection.]
Prospective
Sections 401 and 403 (delivery of further particulars and memorandum of charge ceasing to affect company’s property) apply in relation to a charge of which particulars have been delivered under this Chapter.]
Prospective
(1)The following provisions of Part XII apply in relation to the voidness of a charge by virtue of this Chapter—
(a)section 404 (exclusion of voidness as against unregistered charges),
(b)section 405 (restrictions on cases in which charge is void),
(c)section 406 (effect of exercise of power of sale), and
(d)section 407 (effect of voidness on obligation secured).
(2)In relation to a charge of which particulars are required to be delivered under section 703D(3) (charges registrable by virtue of property being within Great Britain for requisite period), the reference in section 404 to the period of 21 days after the charge’s creation shall be construed as a reference to the period of four months referred to in that subsection.]
Prospective
(1)Section 408 (particulars of taking up of issue of debentures) applies in relation to a charge of which particulars have been delivered under this Chapter.
(2)Section 409 (notice of appointment of receiver or manager) applies in relation to the appointment of a receiver or manager of property of a registered oversea company.
(3)Regulations under section 410 (notice of crystallisation of floating charge, &c.) may apply in relation to a charge of which particulars have been delivered under this Chapter; but subject to such exceptions, adaptations and modifications as may be specified in the regulations.]
Prospective
(1)Sections 411 and 412 (copies of instruments and register to be kept by company) apply in relation to a registered oversea company and any charge over property of the company situated in Great Britain.
(2)They apply to any charge, whether or not particulars are required to be delivered to the registrar.
(3)In relation to such a company the references to the company’s registered office shall be construed as references to its principal place of business in Great Britain.]
Prospective
(1)The Secretary of State may by regulations make further provision as to the application of the provisions of this Chapter, or the provisions of Part XII applied by this Chapter, in relation to charges of any description specified in the regulations.
(2)The regulations may apply any provisions of regulations made under section 413 (power to make further provision with respect to application of Part XII) or make any provision which may be made under that section with respect to the application of provisions of Part XII.]
Prospective
(1)The following provisions apply for determining for the purposes of this Chapter whether a vehicle which is the property of an oversea company is situated in Great Britain—
(a)a ship, aircraft or hovercraft shall be regarded as situated in Great Britain if, and only if, it is registered in Great Britain;
(b)any other description of vehicle shall be regarded as situated in Great Britain on a day if, and only if, at any time on that day the management of the vehicle is directed from a place of business of the company in Great Britain;
and for the purposes of this Chapter a vehicle shall not be regarded as situated in one part of Great Britain only.
(2)For the purposes of this Chapter as it applies to a charge on future property, the subject-matter of the charge shall be treated as situated in Great Britain unless it relates exclusively to property of a kind which cannot, after being acquired or coming into existence, be situated in Great Britain; and references to property situated in a part of Great Britain shall be similarly construed.]
Prospective
(1)The following provisions of Part XII apply for the purposes of this Chapter—
(a)section 414 (construction of references to date of creation of charge),
(b)section 415 (prescribed particulars and related expressions),
(c)section 416 (notice of matters disclosed on the register),
(d)section 417 (power of court to dispense with signature),
(e)section 418 (regulations) and
(f)section 419 (minor definitions).]
Prospective
The following Table shows the provisions of this Chapter and Part XII defining or otherwise explaining expressions used in this Chapter (other than expressions used only in the same section)—
| charge | sections 703A(2), 703B(3) and 395(2) |
| charge requiring registration | sections 703B(1) and 396 |
| creation of charge | sections 703M(f) and 419(2) |
| date of acquisition (of property by a company) | sections 703M(f) and 419(3) |
| date of creation of charge | sections 703M(a) and 414 |
| property | sections 703A(2) and 395(2) |
| registered oversea company | section 703A(3) |
| registrar and registration in relation to a charge | sections 703A(4) and 703E |
| situated in Great Britain in relation to vehicles | section 703L(1) |
| in relation to future property | section 703L(2)] |
Textual Amendments
F57Chapter IV (ss. 703O-703R) inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para.19.
This Chapter applies to any company to which section 690A applies.
Textual Amendments
F58S. 703O inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para.19.
(1)Subject to subsection (8), where a company to which this Chapter applies is being wound up, it shall deliver to the registrar for registration a return in the prescribed form containing the following particulars—
(a)the name of the company;
(b)whether the company is being wound up by an order of a court and, if so, the name and address of the court and the date of the order;
(c)if the company is not being so wound up, as a result of what action the winding up has commenced;
(d)whether the winding up has been instigated by:
(i)the company’s members;
(ii)the company’s creditors; or
(iii)some other person or persons,
and, in the case of (iii) the identity of that person or those persons shall be given; and
(e)the date on which the winding up became or will become effective.
(2)The period allowed for delivery of a return under subsection (1) above is 14 days from the date on which the winding up begins.
(3)Subject to subsection (8), a person appointed to be the liquidator of a company to which this Chapter applies shall deliver to the registrar for registration a return in the prescribed form containing the following particulars—
(a)his name and address,
(b)the date of his appointment, and
(c)a description of such of his powers, if any, as are derived otherwise than from the general law or the company’s constitution.
(4)The period allowed for delivery of a return under subsection (3) above is 14 days from the date of the liquidator’s appointment.
(5)Subject to subsection (8), the liquidator of a company to which this Chapter applies shall deliver to the registrar for registration a return in the prescribed form upon the occurrence of the following events—
(a)the termination of the winding up of the company, and
(b)the company ceasing to be registered, in circumstances where ceasing to be registered is an event of legal significance.
The following particulars shall be given:
(i)in the case of (a), the name of the company and the date on which the winding up terminated; and
(ii)in the case of (b), the name of the company and the date on which the company ceased to be registered.
(6)The period allowed for delivery of a return under subsection (5) is 14 days from the date of the event concerned.
(7)The obligation to deliver a return under subsection (1), (3) or (5) above shall apply in respect of each branch which the company has in Great Britain (though where the company has more than one branch in a part of Great Britain a return which gives the branch numbers of two or more such branches is to be regarded as a return in respect of each branch whose number is given).
(8)No return is required under subsection (1), (3), or (5) above in respect of a winding up under Part V of the Insolvency Act 1986. M2
Textual Amendments
F59S. 703P inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para.19.
Marginal Citations
(1)Where a company to which this Chapter applies becomes subject to any of the following proceedings (other than proceedings for the winding up of the company), that is to say, insolvency proceedings or an arrangement or composition or any analogous proceedings, it shall deliver to the registrar for registration a return in the prescribed form containing the following particulars—
(a)the name of the company;
(b)whether the proceedings are by order of a court and, if so, the name and address of the court and the date of the order;
(c)if the proceedings are not by order of a court, as a result of what action the proceedings have been commenced;
(d)whether the proceedings have been instigated by:
(i)the company’s members;
(ii)the company’s creditors; or
(iii)some other person or persons,
and, in the case of (iii) the identity of that person or those persons shall be given; and
(e)the date on which the proceedings became or will become effective.
(2)Where a company to which this Chapter applies ceases to be subject to any of the proceedings mentioned in subsection (1) it shall deliver to the registrar for registration a return in the prescribed form containing the following particulars:
(a)the name of the company; and
(b)the date on which it ceased to be subject to the proceedings.
(3)The period allowed for delivery of a return under subsection (1) or (2) is 14 days from the date on which the company becomes subject, or (as the case may be) ceases to be subject to the proceedings concerned.
(4)The obligation to deliver a return under subsection (1) or (2) shall apply in respect of each branch which the company has in Great Britain (though where the company has more than one branch in a part of Great Britain a return which gives the branch numbers of two or more such branches is to be regarded as a return in respect of each branch whose number is given).
Textual Amendments
F60S. 703Q inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para.19.
(1)If a company fails to comply with section 703P(1) or 703Q(1) or (2) within the period allowed for compliance, it, and every person who immediately before the end of that period was a director of it, is guilty of an offence and liable to a fine and, for continued contravention, to a daily default fine.
(2)If a liquidator fails to comply with section 703P(3) or (5) within the period allowed for compliance, he is guilty of an offence and liable to a fine and, for continued contravention, to a daily default fine.
(3)It is a defence for a person charged with an offence under this section to prove that he took all reasonable steps for securing compliance with the requirements concerned.
Textual Amendments
F61S. 703R inserted (1.1.1993) by S.I. 1992/3179, reg. 3, Sch. 2 para.19.