Companies (Transfer of Functions) Act 2000

Link to law: https://legislation.gov.im/cms/images/LEGISLATION/PRINCIPAL/2000/2000-0003/CompaniesTransferofFunctionsAct2000_1.pdf
Published: 2012-09-01

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Companies (Transfer of Functions) Act 2000

c i e
AT 3 of 2000

COMPANIES (TRANSFER OF FUNCTIONS)

ACT 2000

Companies (Transfer of Functions) Act 2000 Index


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c i e
COMPANIES (TRANSFER OF FUNCTIONS) ACT 2000

Index Section Page

1 Transfer of registrar’s functions .................................................................................... 5
2 Transfer of other functions and amendment of enactments ..................................... 5
3 Transitional and saving provisions .............................................................................. 6
4 Qualification as auditor ................................................................................................. 7
5 Repeals ............................................................................................................................. 7
6 Financial ........................................................................................................................... 7
7 Short title and commencement ..................................................................................... 7
SCHEDULE 1 9

AMENDMENT OF ENACTMENTS RELATING TO THE FUNCTIONS OF THE
CHIEF REGISTRAR IN RELATION TO THE REGISTRATION OF
COMPANIES, ETC. 9
SCHEDULE 2 10

TRANSFER OF OTHER FUNCTIONS AND AMENDMENT OF
ENACTMENTS 10
SCHEDULE 3 11

REPEAL OF ENACTMENTS 11
ENDNOTES 13

TABLE OF LEGISLATION HISTORY 13
TABLE OF RENUMBERED PROVISIONS 13
TABLE OF ENDNOTE REFERENCES 13

Companies (Transfer of Functions) Act 2000 Section 1


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c i e
COMPANIES (TRANSFER OF FUNCTIONS) ACT 2000

Received Royal Assent: 21 March 2000
Passed: 21 March 2000
Commenced: 1 April 2000
AN ACT
to transfer certain functions relating to the registration of companies,
partnerships and other entities to the Financial Supervision Commission; and
for other purposes.1
1 Transfer of registrar’s functions

The functions of the Chief Registrar under the enactments specified in Schedule
1 (being enactments relating to the registration and regulation of companies,
partnerships and other entities) are transferred to the Financial Supervision
Commission and the enactments so specified are amended in accordance with
that Schedule.
2 Transfer of other functions and amendment of enactments

Schedule 2 shall have effect for the purpose of —
(a) transferring other functions to the Financial Supervision
Commission; and
(b) making a number of related amendments to enactments,
and the enactments specified in that Schedule are amended in accordance with
that Schedule.
1 The functions of the Financial Supervision Commission were transferred to the Isle of
Man Financial Services Authority by virtue of the Transfer of Functions (Isle of Man
Financial Services Authority) Order 2015 [SD 2015/0090], as amended by the Transfer
of Functions (Isle of Man Financial Services Authority) (Amendment) Order 2015 [SD
2015/0276].
Section 3 Companies (Transfer of Functions) Act 2000


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3 Transitional and saving provisions

(1) All personal property which immediately before the coming into
operation of this Act was vested in or held by the Chief Registrar for the
purpose of the transferred registry functions shall on such coming into
operation vest in the Financial Supervision Commission without any
assurance for the purpose of those functions.
(2) A certificate signed by or on behalf of the Financial Supervision
Commission and stating that any property specified in the certificate,
being property which immediately before such coming into operation
was vested in or held by the Chief Registrar, was so vested or held for
the purpose of the transferred registry functions shall be conclusive
evidence of that fact; and, a certificate purporting to be so signed shall be
presumed to be so signed until the contrary is proved.
(3) All rights, obligations and liabilities which immediately before such
coming into operation were enforceable by or against the transferor and
were enjoyed or incurred for the purpose of the transferred functions
shall on and after such coming into operation be enforceable by or
against the Financial Supervision Commission.
(4) All references to the transferor, so far as they relate to the transferred
functions and not otherwise, in any enactment, agreement, deed,
instrument, licence, consent, application, notice or other document
whatsoever shall, unless the context otherwise requires, be construed as
references to the Financial Supervision Commission.
(5) This Act shall not affect the validity of anything done by or in relation to
the transferor before the date on which this Act comes into operation;
and anything which on that date is in the process of being done by or in
relation to the transferor, so far as it relates to any of the transferred
functions, may be continued by or in relation to the Financial
Supervision Commission.
(6) Anything done by the transferor, so far as it relates to any of the
transferred functions, shall, if in force on the date on which this Act
comes into operation, have effect as if made or done by the Financial
Supervision Commission so far as that is required for continuing its
effect after that date.
(7) Documents, forms and signs printed or otherwise prepared for use in
connection with any of the transferred functions may be so used
notwithstanding that they contain references to the transferor, and those
references shall be construed as references to the Financial Supervision
Commission.
(8) A person who, immediately before the commencement of this Act, was a
civil servant shall not cease to be a civil servant by virtue only of the
passing of this Act unless he, the Civil Service Commission and the
Financial Supervision Commission otherwise agree in writing.
Companies (Transfer of Functions) Act 2000 Section 4


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(9) In this section —
“transferred functions” means the functions transferred to the Financial
Supervision Commission in accordance with the amendments to
enactments specified in Schedules 1 and 2;
“transferred registry functions” means the functions transferred to the Financial
Supervision Commission in accordance with the amendments to
enactments specified in Schedule 1;
“transferor” means the Chief Registrar and any person from whom functions
are transferred under Schedule 2.
4 Qualification as auditor

[Amends section 14 of the Companies Act 1982 by inserting subsection (8A).]
5 Repeals

The enactments mentioned in Schedule 3 are repealed to the extent specified in
that Schedule.
6 Financial

(1) The expenses of the Financial Supervision Commission in respect of any
function transferred by this Act shall be payable out of the General
Revenue of the Island.
(2) Any fees, duties or other monies received by the Financial Supervision
Commission in respect of or relating to —
(a) any function transferred or conferred on it under this Act; or
(b) any Act amended by this Act,
shall be paid into and form part of the General Revenue of the Island.
7 Short title and commencement

(1) This Act may be cited as the Companies (Transfer of Functions) Act 2000.
(2) This Act shall come into operation on such day as the Treasury may by
order appoint and different days may be so appointed for different
provisions and for different purposes.1

(3) An order under subsection (2) may include such transitional provisions
as the Treasury thinks fit.
Companies (Transfer of Functions) Act 2000 Schedule
1


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Schedule 1

AMENDMENT OF ENACTMENTS RELATING TO THE FUNCTIONS OF THE

CHIEF REGISTRAR IN RELATION TO THE REGISTRATION OF COMPANIES,

ETC.

Section 1
[Sch 1 amended by Companies, etc. (Amendment) Act 2003 Sch 2 and by Insurance Act
2008 Sch 9, and amends the following Acts —
Industrial and Building Societies Act 1892 q.v.
Partnership Act 1909 q.v.
Registration of Business Names Act 1918
Companies Act 1931 q.v.
Registration of Business Names Act 1954 q.v.
Industrial and Building Societies (Amendment) Act 1955 q.v.
General Registry Act 1965 q.v.
Companies Act 1968 q.v.
Companies Act 1982 q.v.
Companies Act 1986 q.v.
Non-Resident Company Duty Act 1986 q.v.
Companies Act 1992 q.v.
Credit Unions Act 1993 q.v.
Limited Liability Companies Act 1996 q.v.
Companies (Transfer of Domicile) Act 1998 q.v.]

SCHEDULE
2 Companies (Transfer of Functions) Act 2000


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SCHEDULE 2

TRANSFER OF OTHER FUNCTIONS AND AMENDMENT OF ENACTMENTS

Section 2
[Sch 2 amended by Companies, etc. (Amendment) Act 2003 Sch 2, by Companies
(Corporate Taxpayers) Act 2006 Sch, by Insurance Act 2008 Sch 9 and by Company
Officers (Disqualification) Act 2009 Sch 5, and amends the following Acts —
Industrial and Building Societies Act 1892 q.v.
Partnership Act 1909 q.v.
Registration of Business Names Act 1918 q.v.
Companies Act 1931 q.v.
Companies Act 1961 q.v.
Companies Act 1974 q.v.
Companies Act 1982 q.v.
Companies Act 1986 q.v.
Civil Service Act 1990 q.v.
Companies Act 1992 q.v.
Limited Liability Companies Act 1996 q.v.
Companies (Transfer of Domicile) Act 1998 q.v.]

Companies (Transfer of Functions) Act 2000 SCHEDULE
3


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SCHEDULE 3

REPEAL OF ENACTMENTS

Section 5
[Sch 3 repeals the following Acts in part —
Industrial and Building Societies Act 1892
Partnership Act 1909
Registration of Business Names Act 1918
Companies Act 1931
General Registry Act 1965
Governor’s General Functions (Transfer) Act 1980
Financial Supervision Commission Act 1984
Treasury Act 1985
Companies Act 1986
Non-Resident Company Duty Act 1986
Credit Unions Act 1993
Limited Liability Companies Act 1996.]
Companies (Transfer of Functions) Act 2000 Endnotes


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ENDNOTES

Table of Legislation History

Legislation Year and No Commencement






Table of Renumbered Provisions

Original Current






Table of Endnote References

1
ADO (whole Act) 1/4/2000 (SD149/00).