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Amendment of section 4 of Act of 1990.
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12.—Section 4 of the Act of 1990 is hereby amended—
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(a) in subsection (1), by the substitution for “Where the court appoints an examiner to a company” of “Subject to subsection (2), where the court appoints an examiner to a company”, and
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(b) in subsection (2), by the insertion of the following at the end of that subsection:
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“and shall not, in any case, make such an order unless it is satisfied that there is a reasonable prospect of the survival of the related company, and the whole or any part of its undertaking, as a going concern”,
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and the said subsections (1) and (2), as so amended, are set out in paragraphs 1 and 2, respectively, of the Table to this section.
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TABLE
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1. (1) Subject to subsection (2), where the court appoints an examiner to a company, it may, at the same or any time thereafter, make an order—
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(a) appointing the examiner to be examiner for the purposes of this Act to a related company, or
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(b) conferring on the examiner, in relation to such company, all or any of the powers or duties conferred on him in relation to the first-mentioned company.
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2. (2) In deciding whether to make an order under subsection (1), the court shall have regard to whether the making of the order would be likely to facilitate the survival of the company, or of the related company, or both, and the whole or any part of its or their undertaking, as a going concern and shall not, in any case, make such an order unless it is satisfied that there is a reasonable prospect of the survival of the related company, and the whole or any part of its undertaking, as a going concern.
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