§ 164 After Clause 108, insert the following new clause:
§ `Orders imposing restrictions on shares
§ . —(1) The Secretary of State may by regulations made by statutory instrument make such amendments of the provisions of the Companies Act 1985 relating to orders imposing restrictions on shares as appear to him necessary or expedient —
- (a) for enabling orders to be made in a form protecting the rights of third parties;
- (b) with respect to the circumstances in which restrictions may be relaxed or removed;
- (c) with respect to the making of interim orders by a court.
§ (2) The provisions referred to in subsection (1) are section 210(5), section 216(1) and (2), section 445 and Part XV of the Companies Act 1985.
§ (3) The regulations may make different provision for different cases and may contain such transitional and other supplementary and incidental provisions as appear to the Secretary of State to be appropriate.
§ (4) Regulations under this section shall not be made unless a draft of the regulations has been laid before Parliament and approved by Resolution of each House of Parliament.'.