+44 1372 750800

COMPANIES ACT 1990

COMPANIES ACT 1990 - LONG TITLE
AN ACT TO AMEND THE LAW RELATING TO COMPANIES AND TO PROVIDE FOR RELATED MATTERS.
[22nd December, 1990]
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:
COMPANIES ACT 1990 - PART IX
- COMPANIES UNDER COURT PROTECTION
COMPANIES ACT 1990 - SECT 180
Amendments to the Companies (Amendment) Act, 1990.
180.—(1) The Companies (Amendment) Act, 1990, is hereby companies
amended as follows:
( a ) by the substitution in section 3 (6) for "14 days" of "3
days",
( b ) by the insertion after section 5 (2) ( f ) of the
following paragraph:
"( g ) no order for relief shall be made under section 205 of
the Principal Act against the company in respect of complaints as
to the conduct of the affairs of the company or the exercise of
the powers of the directors prior to the presentation of the
petition.",
( c ) by the deletion in section 8 (3), of the or past
director,",
( d ) by the insertion in section 8 (3), after "Act", where it
secondly occurs, of "and 'director' includes any present or past
director or any person connected, within the meaning of section 26
of the Companies Act, 1990, with such director, and any present or
past shadow director",
( e ) by the insertion in section 8 of the following subsections:
"(5A) Without prejudice to its power under subsection (5), the court
may, after a hearing under that subsection, make any order or
direction it thinks fit, including a direction to the person
concerned to attend or re-attend before the examiner or produce
particular books or documents or answer particular questions put to
him by the examiner, or a direction that the person concerned need
not produce a particular book or document or answer a particular
question put to him by the examiner.
(5B) Section 23 (1) of the Companies Act, 1990 shall apply for the
purposes of this section.",
( f ) by the substitution in section 10 (1) of "Any" for "Where
an order is made under this Act for the winding-up of the company
or a receiver is appointed, any",
( g ) by the substitution, for section 16 ( i ), of the
following:
"(i) his opinion as to whether the facts disclosed would warrant
further inquiries with a view to proceedings under section 297 or
297A of The Principal Act (inserted by the Companies Act, 1990), or
both,",
( h ) by the insertion in section 23 (5) (b), after "Government"
of", a local authority",
( i ) by the insertion in section 24 of the following subsection:
"(12) Notwithstanding subsection (4), or any other provision of this
Act, where the examiner forms the opinion that the company will be
able to survive as a going concern, nothing in this Act shall
prevent the examiner from including, in a report under section 15
or 18, proposals which will not involve the impairment of the
interests of members or creditors of the company, nor the court
from confirming any such proposals.".
(2) section 244A of the Principal Act (inserted by section 125 of
the Companies Act, 1990) and section 139 of the Companies Act,
1990, shall apply to a company under the protection of the court
as they apply to a company being wound up, and any references in
those sections to a liquidator or provisional liquidator shall be
construed for the purposes of this subsection as a reference to an
examiner.
(3) Sections 32 of the Companies (Amendment) Act, 1990, are hereby
repealed.
COMPANIES ACT 1990 - SECT 181
Further amendments to the Companies (Amendment) Act, 1990.
181.—(1) The Companies (Amendment) Act, 1990, is hereby further
amended as follows:
( a ) by the substitution for section 2 (1) ( b ) of the
following.
"( b ) no resolution subsists for the winding up of the company,
and",
( b ) by the substitution in section 4 (5) ( f ), for "company",
of "body corporate",
( c ) by the insertion after section 5 (2) ( f ) of the
following paragraph:
"( h ) no set-off between separate bank accounts of the company
shall be effected, except with the consent of the examiner, and in
this paragraph 'bank account' includes an account with any person
exempt by virtue of section 7 (4) of the Central Bank Act, 1971,
from the requirement of holding a licence under section 9 of that
Act,",
( d ) by the insertion in section 11 (5), after "towards" of
"discharging", and
( e ) by the insertion of the following section after section 36:
"Proceedings by registrar.
36A.—Proceedings in relation to an offence under section 11 (6), 12
or 30 may be brought and prosecuted by the registrar of
companies.".
(2) Section 30 (3) of the Companies (Amendment) Act, 1990, is
hereby repealed.