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Investment Funds, Companies and Miscellaneous Provisions Act 2006

Amendment of Act of 1997 — insertion of new section 2B.

28.— The following section is inserted after section 2A (inserted by the Act of 2005) of the Act of 1997:

“Securities for the purposes of section 2(c) and (d) and application of those provisions.

2B.— (1) The securities referred to in paragraphs (c) and (d) of section 2 in relation to an excepted company are debentures or bonds or other securities in the nature of debentures or bonds, by whatever name called, that do not confer voting rights in the company or in any other body corporate.

(2) The cases to which the qualifications contained in paragraphs (c) and (d) of section 2 concerning an excepted company apply include the case where the authorisation for the trading of the securities concerned was given before the commencement of section 28 of the Investment Funds, Companies and Miscellaneous Provisions Act 2006.”.