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COMPANIES ACT 1963 - SECT 398 Provisions as to winding-up proceedings commenced before the operative date.

398.—(1) The provisions of this Act relating to winding up (other than subsections (2) and (3)) shall not apply to any company of which the winding up commenced before the operative date but every such company shall be wound up in the same manner and with the same incidents as if this Act (apart from the enactments aforesaid) had not been passed, and for the purposes of the winding up, the Act or Acts under which the winding up commenced shall be deemed to remain in full force.

(2) An office copy of every order staying the proceedings in a winding up commenced as aforesaid shall forthwith be forwarded by the company or by such person as the court may direct, to the registrar of companies for registration.

(3) If a company fails to comply with subsection (2), the company and every officer of the company who is in default shall be liable to a fine not exceeding £25, and if any other person fails to comply with subsection (2) such person shall be liable to a fine not exceeding £25.

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