§ '. In Schedule 22 to the Companies Act 1985 (provisions applying to unregistered companies), for the entry relating to Part XIV substitute—
| "Part XIV (except section 446) | Investigation of companies and their affairs; requisition of documents. | —".'.—[Mr. Redwood.] |
§ Brought up, and read the First time.
§ Mr. RedwoodI beg to move, That the clause be read a Second time.
As a consequence of certain repeals of provisions in the Companies Act 1985 by the Financial Services Act 1986, unregistered companies which at present fall within the scope of section 447 of the 1985 Act would no longer be covered. Section 447 gives the Secretary of State power to require documents for inspection. These amendments will ensure that section 447 powers continue to apply to unregistered companies.
The purpose of this amendment is to preserve the status quo. There will be no widening or narrowing of the powers.
§ Question put and agreed to.
§ Clause read a Second time, and added to the Bill.