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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 402

Construction of references in other Acts to subsidiary companies as defined by, and companies registered under, the Companies Act (Northern Ireland), 1932.

402.(1) Paragraph (d) of sub-section (1) of section ten of the Companies Act,
1907, paragraph (d) of sub-section (1) of section ninety-three of the
Companies (Consolidation) Act, 1908, and paragraph (d) of sub-section (2) of
section seventy-seven of the Companies Act (Northern Ireland), 1932 (by virtue
whereof charges created on land by a company required registration under those
Acts respectively), shall be deemed never to have applied to a charge for any
rent or other periodical sum issuing out of the land.

(2) Sub-section (1) of section two hundred and forty-three of the Companies
Act (Northern Ireland), 1932, (which penalised the persons responsible where
proper books of account were not kept by a company throughout the two years
immediately preceding the commencement of the winding up), shall be deemed
always to have had effect

(a)as if after the words "the period of two years immediately preceding the
commencement of the winding up" there had been inserted the words "or the
period between the incorporation of the company and the commencement of the
winding up, whichever is the shorter"; and

(b)as if, in the phrase "unless he shows that he acted honestly or that in the
circumstances in which the business of the company was carried on the default
was excusable", for the word "or" there had been substituted the word "and".

© 1960 Crown Copyright

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