C1Part 39Companies: minor amendments
I11176Power of Secretary of State to bring civil proceedings on company's behalf
1
Section 438 of the Companies Act 1985 (power of Secretary of State to bring civil proceedings on company's behalf) shall cease to have effect.
2
In section 439 of that Act (expenses of investigating company's affairs)—
a
in subsection (2) omit “, or is ordered to pay the whole or any part of the costs of proceedings brought under section 438,”;
b
omit subsections (3) and (7) (which relate to section 438);
c
in subsection (8)—
i
for “subsections (2) and (3)” substitute “
subsection (2)
”
, and
ii
omit “; and any such liability imposed by subsection (2) is (subject as mentioned above) a liability also to indemnify all persons against liability under subsection (3)”.
3
In section 453(1A) of that Act (investigation of overseas companies: provisions not applicable), omit paragraph (b) (which relates to section 438).
4
Nothing in this section affects proceedings brought under section 438 before the commencement of this section.
Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2