Explanatory note
This note is not part of the order, but is intended to indicate its general effect.
This order comes into force on the 28th day after the date of its notification in the Gazette. It provides that J.B.L. Consolidated Limited, which is subject to receivership under the Companies Special Investigations Act 1958, becomes subject to statutory management under the Corporations (Investigation and Management) Act 1989.
Section 75(2) of the 1989 Act provides that—
Clause 3 of the order is a transitional provision (under section 75(1)(b) of the 1989 Act) appointing a statutory manager of the company. The appointment is made following the death of the receiver and manager of the company originally appointed under the 1958 Act. No successor has been appointed under that Act.