COMPANIES ACT 1989

HL Deb 10 July 1990 vol 521 c251WA

Lord Gainford

asked Her Majesty's Government:

What further plans they have to commence the provisions of the Companies Act 1989.

Lord Trefgarne

My honourable friend the Parliamentary Under-Secretary of State for Corporate Affairs signed an order yesterday which commences certain provisions of the Act. Section 130 (company seals), Section 138 (directors loans) and Section 211(2) and (3) (building societies) will commerce on 31st July 1990. Section 129 (membership of holding company), Section 144 (definition of subsidiary) and Section 207 (order-making power for transfer of securities) will come into force on 1st November 1990. The order provides for certain transitional and saving provisions for Sections 138, 144 and 211(2) and (3). I have placed a copy of the order in the Library.