Explanatory note

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.