Registration under the Companies Act 1985

7 Repeal of 1978 Act: savings, &c.

1

Section 5(2) shall not apply to sections 1(1) (continued existence of Corporation) or 19 (short title, &c.) of the M1Commonwealth Development Corporation Act 1978; but this subsection is—

a

subject to section 5(3), and

b

without prejudice to any provision under or by virtue of which the Corporation may be dissolved.

2

Section 6(1) and (2) of the 1978 Act (annual report) shall continue to have effect in relation to the last financial year which ends before registration.

3

Any restriction which applies by virtue of section 14 of the 1978 Act (reserve fund) to the fund mentioned in that section shall cease to have effect on registration.

4

Section 16 of the 1978 Act (accounts) shall continue to have effect in relation to the last financial year which ends before registration.