HC Deb 26 October 1989 vol 158 c1197

8. In section 462 of the Companies Act 1985 (power of company to create floating charge), for subsections (2) and (3) substitute— (2) In the case of a company which the Court of Session has jurisdiction to wind up, a floating charge may be created only by a written instrument which is presumed under section 36B to be subscribed by the company.".

9. In section 466(2) of the Companies Act 1985 (execution of instrument altering floating charge)—

  1. (a) at the beginning of the subsection insert "Without prejudice to any enactment or rule of law regarding the execution of documents,";
  2. (b) omit paragraph (a);
  3. (c) at the end of paragraph (b) insert "; or", and
  4. (d) omit paragraph (d) and the word "or" preceding it.

10. In section 53(3) of the Insolvency Act 1986 (execution of instrument appointing receiver), in paragraph (a) for "in accordance with the provisions of section 36 of the Companies Act as if it were a contract" substitute "in accordance with section 36B of the Companies Act 1985".'—[Mr. Redwood.]

MADAM DEPUTY SPEAKER then proceeded to put forthwith the Question on amendments, relating to part V of the Bill, standing in the name of, or moved by a Member of the Government, of which notice had been given, to that part of the Bill to he concluded at Eleven o'clock.

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