HC Deb 10 May 1994 vol 243 c260

Amendments made: No. 71, in page 75, line 3, after 'if' insert

', at any time in the previous 3 months,'. No. 72, in page 75, leave out lines 4 to 8 and insert—

  1. '(a) changed its name,
  2. (b) traded or otherwise carried on business,
  3. (c) made a disposal for value of property or rights which, immediately before ceasing to trade or otherwise carry on business, it held for the purpose of disposal for gain in the normal course of trading or otherwise carrying on business, or
  4. (d) engaged in any other activity, except one which is—
  1. (i) necessary or expedient for the purpose of making an application under Article 603A, or deciding whether to do so,
  2. (ii) necessary or expedient for the purpose of concluding the affairs of the company,
  3. (iii) necessary or expedient for the purpose of complying with any statutory requirement, or
  4. (iv) specified for the purposes of this head by the Department by order made subject to negative resolution.
(1A) For the purposes of paragraph (1), a company shall not be treated as trading or otherwise carrying on business by virtue only of the fact that it makes a payment in respect of a liability incurred in the course of trading or otherwise carrying on business.'. No. 73, in page 76, line 15, leave out '(c)' and insert '(d),.

No. 74, in page 76, leave out lines 40 to 43 and insert—

  1. '(i) changes its name,
  2. (ii) trades or otherwise carries on business,
  3. (iii) makes a disposal for value of any property or rights other than those which it was necessary or expedient for it to hold for the purpose of making, or proceeding with, an application under Article 603A, or
  4. (iv) engages in any other activity, except one to which paragraph (6) applies.'.
No. 75, in page 77, line 9, at end insert—

  1. '(6) This paragraph applies to any activity which is—
    1. (a) necessary or expedient for the purpose of making, or proceeding with, an application under Article 603A,
    2. (b) necessary or expedient for the purpose of concluding affairs of the company which are outstanding because of what has been necessary or expedient for the purpose of making, or proceeding with, such an application,
    3. (c) necessary or expedient for the purpose of complying with any statutory requirement, or
    4. (d) specified for the purposes of this paragraph by the Department by order made subject to negative resolution.
  2. (7) For the purposes of paragraph (4)(a), a company shall not be treated as trading or otherwise carrying on business by virtue only of the fact that it makes a payment in respect of a liability incurred in the course of trading or otherwise carrying on business.'.
No. 76, in page 77, line 11, leave out from '603D.-(l)' to 'For' in line 22.

No. 77, in page 77, leave out lines 44 to 47 and insert—

'(7) In Articles 603B and 603C, "disposal" includes part disposal.'.—[Mr. Neil Hamilton.]

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