The Companies Act 1989 (Commencement No. 5 and Transitional and Saving Provisions) Order 1990

• Citation: S.I. 1990/713
• Sections: 5

Section 1 Citation and Interpretation

This Order may be cited as the Companies Act 1989 (Commencement No. 5 and Transitional and Saving Provisions) Order 1990.

Section 2 Citation and Interpretation

In this Order—

“the 1985 Act ” means the Companies Act 1985 ; and

“the 1989 Act ” means the Companies Act 1989.

Section 3 Provisions of the 1989 Act commenced by this Order

The following provisions of the 1989 Act shall come into force on 31st May 1990:

(i) in Part V of that Act, section 134(1), (2), (3), (5) and (6);

(ii) in Part X of that Act, the repeals effected by Schedule 24 in or of sections 201, 202(1), and 209(1)(j) of the 1985 Act, together with section 212 so far as relating to those repeals.

Section 4 Provisions of the 1989 Act commenced by this Order

(1) Where in consequence of the coming into force of section 134(2) of the 1989 Act a person’s interest in the shares of a company becomes notifiable, and he is or becomes aware that he has such an interest,

(a) then he comes under an obligation to make notification to the company in respect of it, and

(b) the obligation must be performed within the period of 2 days next following the day on which he is or becomes so aware,

and the provisions of Part VI of the 1985 Act apply as if that obligation arose under section 198 of the 1985 Act.

(2) Any day that is a Saturday or Sunday or a bank holiday (as defined in s744 of the 1985 Act) in any part of Great Britain is to be disregarded in reckoning the period of 2 days referred to in paragraph (1)(b) of this article.

Section 5 Provisions of the 1989 Act commenced by this Order

The coming into force of section 134(3) of the 1989 Act does not affect the time for fulfilling any obligation which arose before the 31st May 1990.