Source: http://www.legislation.gov.uk/nisi/2006/3336/part/X
Timestamp: 2020-02-19 22:05:43
Document Index: 705756145

Matched Legal Cases: ['art. 269', 'art. 2', 'art. 10', 'art. 271', 'art. 2', 'art. 10', 'art. 271', 'art. 12', 'art. 271', 'art. 2', 'art. 10', 'art. 275', 'art. 275', 'art. 275', 'art. 275', 'Art. 276', 'art. 276', 'art. 276', 'art. 276', 'art. 2', 'art. 10']

The Water and Sewerage Services (Northern Ireland) Order 2006, PART X is up to date with all changes known to be in force on or before 19 February 2020. 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 X N.I.REORGANISATION OF THE INDUSTRY
(a)is a company limited by shares [F3(within the meaning of section 3 of the Companies Act 2006)]; and
F3Words in art. 269(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. 263(4) (with art. 10)
(b)shall be issued as fully paid and treated for the purposes of [F4the Companies Acts] as if they had been paid up by virtue of the payment to the company of their nominal value in cash.
(5) For the purposes of [F5the Companies Acts F6. . . ], the Insolvency (Northern Ireland) Order 1989 (NI 19) and the Company Directors Disqualification (Northern Ireland) Order 2002 (NI 4), 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.
F4Words in art. 271(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. 263(5)(a) (with art. 10)
F5Words in art. 271(5) substituted (1.10.2007) by 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. 112 (with art. 12)
F6Words in art. 271(5) omitted (1.10.2009) by virtue of Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 2(1), Sch. 1 para. 263(5)(b) (with art. 10)
(b)if the Department so directs, as if it were profits available for distribution within the meaning of [F7section 830(2) of the Companies Act 2006].
(3) Notwithstanding paragraph (2), the statutory reserve shall not count as an undistributable reserve of the successor company for the purposes of [F8section 831(4)(d) of the Companies Act 2006]; but for the purpose of determining under [F9that 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 (excluding any amount which by virtue of paragraph (2)(b) is authorised to be, but has not yet been, applied as if it were profits available for distribution) shall be treated for the purposes of [F10section 831(4)(c) of that Act] as if it were unrealised profits of the company.
F7Words in art. 275(2)(b) 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. 252(3)(a) (with arts. 6, 11, 12)
F8Words in art. 275(3) 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. 252(3)(b)(i) (with arts. 6, 11, 12)
F9Words in art. 275(3) 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. 252(3)(b)(ii) (with arts. 6, 11, 12)
F10Words in art. 275(3) 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. 252(3)(b)(iii) (with arts. 6, 11, 12)
276.—[F11(1) The Department shall, as soon as practicable, lay before the Assembly a copy of the documents mentioned in paragraph (2) which are—
and expressions used in this paragraph have the same meaning as in [F12the Companies Act 2006].
(5) In this Article “statutory accounts” means any accounts (including group accounts) prepared for the purpose of any provision of [F13the Companies Acts F14. . . ].
F11Art. 276(1) 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. 252(4)(a) (with arts. 6, 11, 12)
F12Words in art. 276(2) 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. 252(4)(b) (with arts. 6, 11, 12)
F13Words in art. 276(5) 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. 252(4)(c) (with arts. 6, 11, 12)
F14Words in art. 276(5) omitted (1.10.2009) by virtue of Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 2(1), Sch. 1 para. 263(6) (with art. 10)