Source: http://www.legislation.gov.uk/nisi/1994/426/part/V
Timestamp: 2019-10-18 20:21:41
Document Index: 142061553

Matched Legal Cases: ['Art. 50', 'art. 51', 'art. 2', 'art. 10', 'art. 57', 'art. 2', 'art. 10', 'art. 57', 'art. 57', 'art. 12', 'art. 60', 'art. 60', 'art. 60', 'art. 61']

The Airports (Northern Ireland) Order 1994, PART V is up to date with all changes known to be in force on or before 18 October 2019. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
PART VF16N.I.TRANSFER OF UNDERTAKING OF NORTHERN IRELAND AIRPORTS LIMITED
IntroductoryF16N.I.
“the Holding Company” means the Northern Ireland Transport Holding Company established under section 47 of the Transport Act (Northern Ireland) 1967F1;
“statutory accounts” means any accounts (including group accounts) prepared by a company for the purpose of any provision of [F2the Companies Acts (as defined in section 2 of the Companies Act 2006)];
(6) In this Part references to “airport assets” and “airport liabilities” of the Holding Company are references, respectively, to the assets and liabilities of the Holding Company which, either wholly or in part, subsist for the purposes of, or in connection with, or are otherwise attributable to, the functions exercisable by the Holding Company immediately before the transfer date by virtue of section 16 of the Aerodromes Act (Northern Ireland) 1971F3.
F11967 c.37 (NI)
F2Art. 50(1): words in the definition of "statutory accounts" substituted (6.4.2008) by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b), Sch. 1 para. 197(3) (with arts. 6, 11, 12)
F31971 c.16 (NI)
(a)is a company limited by shares [F4(within the meaning of section 3 of the Companies Act 2006)]; and
(2) In the Northern Ireland Assembly Disqualification Act 1975F5, in Part III of Schedule 1 (other disqualifying offices) there shall be inserted (at the appropriate place in alphabetical order) the following entry—
F4Words in art. 51(1)(a) substituted (1.10.2009) by Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 2(1), Sch. 1 para. 149(4) (with art. 10)
F51975 c.25
Reorganisation of certain assets and liabilities of NIAL and the Holding CompanyF16N.I.
The reorganisation schemeN.I.
Functions of the Department in relation to the reorganisation schemeN.I.
Transfer of certain assets and liabilities of NIAL and the Holding CompanyF16N.I.
The transfer schemeN.I.
Functions of the Department in relation to the transfer schemeN.I.
Powers of Department and the Holding Company after transferN.I.
(3) The repeal by this Order of section 16 of the Aerodromes Act (Northern Ireland) 1971F6 shall come into operation on the transfer date, but, notwithstanding that repeal, the Holding Company shall on and after that date have power—
F61971 c.15 (NI)
Ownership of the successor companyF16N.I.
(b)shall be issued as fully paid and treated for the purposes of [F7the Companies Acts (as defined in section 2(1) of the Companies Act 2006)] as if they had been paid up by virtue of the payment to the company of their nominal value in cash.
F8(6) For the purposes of [F9the Companies Acts (as defined in section 2 of the Companies Act 2006)],[F10 the Company Directors Disqualification (Northern Ireland) Order 2002] and the Insolvency (Northern Ireland) Order 1989F11 the Crown is not to be treated as a shadow director of the successor company by reason that the company is wholly owned by the Crown or that the directors of that company are accustomed to act in accordance with the Crown's directions or instructions.
F7Words in art. 57(4)(b) substituted (1.10.2009) by Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 2(1), Sch. 1 para. 149(5) (with art. 10)
F8By Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b), Sch. 1 para. 197(4) (with arts. 6, 11, 12) it is provided that in art. 57(6) for "the Companies Order" substitute (6.4.2008) "the Companies Acts (as defined in section 2 of the Companies Act 2006)"
F9Words in art. 57(6) substituted (1.10.2007) by The Companies Act 2006 (Commencement No. 3, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/2194), arts. 1(3)(a), 10(1), Sch. 4 para. 86 (with saving in art. 12)
F102002 NI 4
Finances of the successor companyF16N.I.
(4) Notwithstanding paragraph (3), the statutory reserve shall not count as an undistributable reserve of the successor company for the purposes of [F12section 831(4)(d) of the Companies Act 2006]; but for the purpose of determining under [F13that section] whether the successor company may make a distribution at any time any amount for the time being standing to the credit of the statutory reserve shall be treated for the purposes of [F14section 831(4)(c) of that Act] as if it were unrealised profits of the company.
F12Words in art. 60(4) substituted (6.4.2008) by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b), Sch. 1 para. 197(5)(a) (with arts. 6, 11, 12)
F13Words in art. 60(4) substituted (6.4.2008) by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b), Sch. 1 para. 197(5)(b) (with arts. 6, 11, 12)
F14Words in art. 60(4) substituted (6.4.2008) by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b), Sch. 1 para. 197(5)(c) (with arts. 6, 11, 12)
(7) In this Article “financial year” has the meaning assigned to it by [F15section 390 of the Companies Act 2006].
F15Words in art. 61(7) substituted (6.4.2008) by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b), Sch. 1 para. 197(6) (with arts. 6, 11, 12)
Temporary restrictions on borrowings, etc.N.I.
Government lending to the successor companyN.I.
Government guarantees for loans made to the successor companyN.I.
Conversion or discharge of certain loans or advances, etc.N.I.
Financial limits on borrowings, etc.N.I.
MiscellaneousF16N.I.
Exercise of certain functions of Department under this PartN.I.