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Commonwealth Development Corporation Act 1999

Consolidated Text As Enacted Cited authorities 117 Cited in Amendments 175 Related
Vincent
JurisdictionUK Non-devolved
Citation1999 c. 20
(1) The Secretary of State may determine a day for the filing of documents by the Commonwealth Development Corporation.giving notice of the filing day,nominating persons to be the Corporation’s directors on registration, andnominating a person to be its secretary on registration.specifying the Corporation’s accounting reference date after registration, andproviding for the allotment of shares on registration.determining the filing day,making a nomination under subsection (2) (b) or (c) , ormaking an order under subsection (3) .nominate persons to whom shares are to be allotted (who may include the Secretary of State) , andin the case of each person nominated, specify the number and nominal value of the shares to be allotted.(6) The aggregate nominal value of the shares to be allotted by virtue of an order under subsection (3) (b) shall not be less than the authorised minimum.(7) In this Act—
  • “the Corporation” means the Commonwealth Development Corporation,
  • “the filing day” means a day determined under subsection (1) , and
  • “registration” means registration of the Corporation’s memorandum and articles of association under the Companies Act 1985 by virtue of section 4 of this Act.
(1) On the filing day the Corporation shall deliver the documents listed in Schedule 1 to the registrar of companies in England and Wales.(2) The memorandum and articles of association required by paragraphs 1 and 2 of Schedule 1 must be accompanied by a certificate of the Secretary of State that he approves them.(3) If the Corporation is unable to make the statement required by paragraph 6 of Schedule 1 on the filing day, the Corporation’s duty under subsection (1) shall lapse.lapses under subsection (3) , oris not discharged on the filing day,(5) For the purposes of Schedule 1, Part I of the Companies Act 1985 shall have effect with the modifications specified in Part I of Schedule 2 to this Act.(1) If the registrar receives documents from the Corporation purporting to discharge the duty under section 2(1) he shall as soon as possible notify the Secretary of State of that fact and state whether he is satisfied that the Corporation has discharged that duty.(2) The registrar shall send a copy of a statement under subsection (1) to the Corporation.(3) On receiving notice that the registrar is satisfied that the Corporation has discharged the duty under section 2(1) the Secretary of State shall make an order by statutory instrument appointing a day for registration.(4) On receiving notice that the registrar is not satisfied that the Corporation has discharged the duty under section 2(1) the Secretary of State may make a new determination under section 1(1) .they had been delivered under section 10 of the Companies Act 1985 (documents to be delivered to the registrar) , andthe requirements of that Act in respect of registration and of matters precedent and incidental to it had been complied with.(2) The registrar of companies shall carry out his duty under section 12 of that Act to register the Corporation’s memorandum and articles of association on the day appointed under section 3(3) .that the Corporation remains incorporated,that its memorandum and articles of association are registered under the that it is a public company limited by shares.(4) The registrar shall inform the Corporation as soon as possible that the certificate has been given.that the requirements of this Act and of the Companies Act 1985 in respect of registration and of matters precedent and incidental to it have been complied with,that the Corporation is a company authorised to be registered under that Act and is duly registered under that Act at and after the time of registration mentioned in the certificate, andthat on and after registration the Corporation is a public company limited by shares.(1) In its application to the Corporation on and after registration, the Companies Act 1985 and other legislation relating to companies shall have effect with the modifications set out in Part II of Schedule 2 to this Act.(2) Subject to section 7 (and to section 8(2) (a) , (4) and (5) ) the (3) On and after registration the Corporation shall be known by the name contained in its memorandum of association (subject to section 28 of the Companies Act 1985) .(4) The persons named in the statement required by paragraph 3 of Schedule 1 shall be

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