The Order brings the provisions of sections 160 (duty to give assistance for purposes of default proceedings), 162 (duty to report on completion of default proceedings), 166 (powers of Secretary of State to give directions), 167 (application to determine whether default proceedings to be taken) and 184 (indemnity for certain acts etc.) of the Companies Act 1989 into force on 1st October 1991 insofar as they are not already in force. The relevant provisions were brought into force on 25th April 1991 by the Companies Act 1989 (Commencement No. 10 and Saving Provisions) Order 1991 (S.I.1991/878) except insofar as they had effect for certain purposes concerning office-holders appointed under Northern Ireland insolvency legislation and other matters which might affect the operation of Northern Ireland insolvency law.

The provisions brought into force by the Order are contained in Part VII of the Companies Act 1989 which is concerned principally with the effects of insolvency law on certain financial markets. Provisions of the Companies (No. 2) (Northern Ireland) Order 1990 (S.I.1990/1504 (N.I. 10)) corresponding to those of Part VII of the Companies Act 1989 will come into force on the same date as the provisions brought into force by the Order.