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PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 10

10.(1) Section 5(1) shall not apply in relation to any
advertisement for deposits issued by a company within nine months after the
date of its incorporation if, before the date when that advertisement is
issued

(a)there has been delivered to the Registrar a prospectus or statement in lieu
of prospectus complying with the requirements of the Companies Act (Northern
Ireland) 1960 or, in the case of a company which is not required by that Act
to deliver such a prospectus or statement, a document complying with the
requirements of section 48 of that Act with respect to the form and contents
of, and the reports to be set out in, such a statement; and

(b)a copy of that prospectus, statement or document has been delivered to the
Ministry.

Subs.(2) spent

(3) Where an advertisement for deposits is or has been issued by a company
within nine months after the date of its incorporation, and the requirements
of section 5 (or of that section as applied by section 9(2)) with respect to
the delivery of accounts have not been complied with in respect of that or any
other advertisement issued by the company, the company shall

(a)in any case, deliver to the Registrar and the Ministry before the end of
those nine months audited accounts comprising a balance sheet dated six months
after the date of its incorporation, and a profit and loss account for those
six months; and

(b)except where section 9 applies to the company, deliver to the Registrar and
the Ministry, within fourteen days after the first occasion after
the appointed day on which an advertisement for deposits is issued by the
company, the like notice as is required by section 5(4) in the case of a
company which has delivered the accounts required by that section.

(4) In any case where accounts are required to be delivered by a company under
section 5 before an audited balance sheet has been delivered by the company
under this Act or laid before the company in general meeting, the
profit and loss account required by subsection (2)(a) of that section shall be
an account for the period (not being less than six months) between the date of
the balance sheet to be delivered thereunder and the date of the incorporation
of the company.

© 1964 Crown Copyright

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