Companies Act 2014

1167.

Certain provisions not to apply where court so orders

1167. F440 [ (1) ] Where the court makes an order confirming a division under this Chapter, the court may, if it sees fit for the purpose of enabling the division properly to have effect, include in the order provision permitting—

(a) the giving of financial assistance which may otherwise be prohibited under section 82 ,

(b) a reduction in company capital which may otherwise be restricted under section 84 .

F440 [ (2) Section 84 and subsection (1)( b ) shall not have effect in respect of a company to which the resolution tools, powers or mechanisms provided for in Part 4 of the Bank Recovery and Resolution Regulations are applied or exercised. ]

Annotations

Amendments:

F440

Section designated as subs. (1) and subs. (2) inserted (15.07.2015) by European Union (Bank Recovery and Resolution) Regulations 2015 (S.I. No. 289 of 2015), reg. 189(14), in effect as per reg. 1(2).