- Latest available (Revised)
- Original (As enacted)
Companies (Audit, Investigations and Community Enterprise) Act 2004
You are here:
- UK Public General Acts
- 2004 c. 27
- SCHEDULE 5
What Version
Advanced Features
Opening Options
More Resources
Status:
This is the original version (as it was originally enacted).
Section 29
SCHEDULE 5Official Property Holder for Community Interest Companies
This schedule has no associated Explanatory Notes
Status
1(1)The Official Property Holder is a corporation sole.
(2)A document purporting to be—
(a)duly executed under the seal of the Official Property Holder, or
(b)signed on behalf of the Official Property Holder,
shall be received in evidence and shall, unless the contrary is proved, be taken to be so executed or signed.
Relationship with Regulator
2The Regulator must make available to the Official Property Holder such members of the Regulator’s staff as the Official Property Holder may require in order to exercise the functions of the office.
Effect of vacancy
3The Regulator must appoint a member of the Regulator’s staff who is to act as Official Property Holder—
(a)during any vacancy in the office, or
(b)if the Official Property Holder is absent, subject to suspension or unable to act.
Property
4(1)The Official Property Holder holds property vested in or transferred to him as a trustee.
(2)The Official Property Holder may release or deal with the property—
(a)to give effect to any interest in or right over the property of any person (other than the community interest company by which, or in trust for which, the property was held before it was vested or transferred), or
(b)at the request of a person appointed to act as administrative receiver, administrator, provisional liquidator or liquidator of the company.
(3)Subject to sub-paragraph (2), the Official Property Holder may not release or deal with the property except in accordance with directions given by the Regulator.
Finance
5(1)The Official Property Holder may recover his expenses in respect of property held by him from the property or from the community interest company by which, or in trust for which, the property was held before it was vested in or transferred to the Official Property Holder.
(2)Any expenses of the Official Property Holder not recovered under sub-paragraph (1) are to be met by the Regulator.
Reports
6(1)As soon as possible after the end of each financial year, the Official Property Holder must prepare a report on the exercise of the Official Property Holder’s functions during the financial year.
(2)The Official Property Holder must send a copy of the report to the Regulator.
(3)“Financial year” means—
(a)the period beginning with the date on which a person is first appointed as the Official Property Holder and ending with the next 31st March, and
(b)each successive period of 12 months beginning with 1st April.
Options/Help
Print Options
PrintThe Whole Act
PrintThis Schedule only
You have chosen to open The Whole Act
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
You have chosen to open The Whole Act as a PDF
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
You have chosen to open the Whole Act
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
See additional information alongside the content
Show Explanatory Notes for Sections: Displays relevant parts of the explanatory notes interweaved within the legislation content.
Opening Options
Different options to open legislation in order to view more content on screen at once
Explanatory Notes
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.