This note is not part of the order, but is intended to indicate its general effect.
This order, which comes into force at 8 am on 14 June 2012 (the specified time), removes 2 companies from statutory management under the Corporations (Investigation and Management) Act 1989 (the Act). The companies were made subject to statutory management at 8 am on 5 October 2010 by the Corporations (Investigation and Management) Order (No 4) 2010 (SR 2010/349), which is revoked by this order.
The effect of this order is that, in accordance with section 62(3) of the Act, at the specified time,—
both companies named in the order cease to be subject to statutory management; and
the appointment of the statutory manager in respect of those companies terminates; and
the appointments of the members of the advisory committee for the statutory management of those companies terminate.
Date of notification in Gazette: 17 May 2012.
This order is administered by the Ministry of Economic Development.