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PART IIINVESTIGATIONS AND POWERS TO OBTAIN INFORMATION

Amendments of other statutory provisions

Amendment of the Building Societies Act 1986

24.  In section 53 of the Building Societies Act 1986(1) (confidentiality of information obtained by the Building Societies Commission), in subsection (7)(c) (functions of Department for purposes of which disclosure may be made) at the end add “, Part III of the Companies (Northern Ireland) Order 1990 or Part II or V of the Companies (No. 2) (Northern Ireland) Order 1990;”.

Amendments of the Banking Act 1987

25.—(1) In section 84(1) of the Banking Act 1987(2) (disclosure of information obtained under that Act), the Table showing the authorities to which, and functions for the purposes of which, disclosure may be made is amended as follows.

(2) In the entry relating to the Department of Economic Development in Northern Ireland, in column 2 at the end add “or Part III of the Companies (Northern Ireland) Order 1990 or Part II or V of the Companies (No. 2) (Northern Ireland) Order 1990”.

(3) For the entry relating to inspectors appointed by the Department substitute—

An inspector appointed under Part XV of the Companies (Northern Ireland) Order 1986 or under Article 16A of the Companies Securities (Insider Dealing) (Northern Ireland) Order 1986.Functions under that Part or that Article.
A person authorised to exercise powers under Article 440 of the Companies (Northern Ireland) Order 1986 or section 84 of the Companies Act 1989.Functions under that Article or section..

Amendment of the Companies (Northern Ireland) Order 1989

26.  In Article 11(1) of the Companies (Northern Ireland) Order 1989(3) (disqualification after investigation of company), after “Article 440 or 441 of the Companies Order” insert “or section 83 of the Companies Act 1989”.

Amendment of the Insolvency (Northern Ireland) Order 1989

27.  In Article 182(4) of the Insolvency (Northern Ireland) Order 1989(4) (investigation by Department on report by liquidator), for sub-paragraph (a) substitute—

(a)shall thereupon investigate the matter reported to it and such other matters relating to the affairs of the company as appear to it to require investigation, and.