Seanad debates

Tuesday, 17 June 2014

Companies Bill 2012: Committee Stage

 

Government amendment No. 14: In page 104, between lines 28 and 29, to insert the following:"(9) If, by reason of section 58, an existing private company was, immediately before the making by the company of an application under subsection (3), governed (in whole or in part) by the regulations contained in Table A, then for the purposes of this section and in addition to the other cases where their continuance in force for a particular purpose is provided for by this Chapter, those regulations shall, despite the repeal of the Act of 1963, continue in force and upon the issue of the aforementioned certificate of incorporation the articles of the designated activity company shall be deemed to comprise the whole of those regulations or, as the case may be, to include the parts concerned of those regulations, but—(a) this is save to the extent that those regulations are inconsistent with a mandatory provision; (b) those regulations may be altered or added to under and in accordance with the conditions under which the designated activity company’s articles are permitted by Part 16 to be altered or added to; and (c) references in those regulations to any provision of the prior Companies Acts shall be read as references to the corresponding provision of this Act.(10) Subject to paragraphs (b) and (c) of that subsection, the regulations referred to in subsection (9) shall be interpreted according to the form in which they existed on the date of repeal of the Act of 1963.”.

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