Seán Sherlock (Cork East, Labour) | Oireachtas source

I move amendment No. 278:

In page 1074, between lines 35 and 36, to insert the following:

“Provisions as to status of companies restored to register, having been struck off under former enactments

12. (1) Without prejudice to any specific provision in this Act in that behalf and the subsequent provisions of this paragraph, the provisions of this Act that shall apply to a company—

(a) struck off the register under any former enactment relating to companies (within the meaning of section 5); and

(b) subsequently restored to the register, whether under—

(i) the former enactment referred to in section 745(3);

(ii) Chapter 2 of Part 12; or

(iii) section 30 of the Multi-Unit Developments Act 2011,

shall be those applicable to the type of company that corresponds to the type of company to which the company belonged before it was so struck off.

(2) Without prejudice to subparagraphs (3) and (4), where any of this Act’s provisions, as applicable to a particular type of company, operates differently by reference (however the matter is expressed) to the length of time that has elapsed after the provision’s commencement, then the reference in subparagraph (1) to the provisions of this Act that are applicable to a type of company shall, in the case of that particular provision, be read as a reference to that provision as it is applicable to a company of the type concerned at the time of the particular company’s restoration to the register (and then at a future date, as the case may be, as it is so applicable at that future date).

(3) If the company’s type, before being so struck off, was that of a private company limited by shares and the date on which the company is restored to the register under Chapter 2 of Part 12 or section 30 of the Multi-Unit Developments Act 2011 is subsequent to the expiry of the transition period (within the meaning of Chapter 6 of Part 2), then, subject, in the case of a restoration under section 739 or 742, to any direction or order of the court under section 743, section 62(1)(a) and (b) shall apply in relation to the company notwithstanding that the company was not an existing private company within the meaning of that Chapter 6 and, accordingly, the company shall, on the date of its restoration to the register, be deemed to be a private company limited by shares to which Parts 1 to 15 apply and the other provisions of section 62 shall apply to it with any necessary modifications.

(4) Subparagraph (3) shall similarly apply (where the company’s type, before being so struck off, was that of a private company limited by shares) if, by virtue of subsection (3) of section 745, the former enactment referred to in that subsection applies to the application for the company’s restoration but with the modification that the reference in that subparagraph to a particular provision under which the application for restoration is made, or to a particular provision under which a direction or order of the court is made, shall be read as a reference to the corresponding provision of the former enactment concerned.

(5) If in any respect any difficulty arises during the period of 20 years after the commencement of Chapter 2 of Part 12 in bringing into operation that Chapter as it relates to a case falling within any of subparagraphs (1) to (4), the Minister by regulations do anything which appears to be necessary or expedient for bringing that Chapter into operation as it relates to such a case.

(6) The Minister’s power to make regulations under subparagraph (5) extends to removing difficulties in cases in which a private company limited by shares was—

(a) struck off the register under any former enactment relating to companies (within the meaning of section 5); and

(b) restored to the register under—

(i) the former enactment referred to in section 745(3);

(ii) Chapter 2 of Part 12; or

(iii) section 30 of the Multi-Unit Developments Act 2011,

and, before the date it is so restored, there has elapsed a length of time that, in the Minister’s opinion, represents a substantial portion (or greater) of the transition period (within the meaning of Chapter 6 of Part 2).”.

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