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Special Committee on the Companies (No. 2) Bill, 1987 debate -
Tuesday, 9 Jan 1990

SECTION 88.

I move amendment No 106:

In page 78, between lines 31 and 32, to insert the following subsection:

"(4) Where any information is furnished to the applicant or the company in pursuance of subsection (2), the court may impose such restrictions as it sees fit as to the publication of the information by the person to whom it has been furnished.".

This amendment proposes to insert a new subsection (4). Section 88 deals with disclosure orders and the information which is given to the court in compliance with the terms of a disclosure order. Subsection (2) provides that, unless the court otherwise directs, information given to the court must be furnished to the applicant and the company in respect of whose shares or debentures the order was made. The purpose of the amendment here is to limit the disclosure, which may be made by an applicant or a company, of the information which they may have received under the section. There will clearly be situations where it is not desirable that information furnished to either an applicant or a company should be made generally available. This amendment, therefore, would ensure that the court will have the power to limit the extent to which a person can disclose that information.

Amendment agreed to.
Section 88, as amended, agreed to.
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