Judge nudges legislators over company law oversight
A Supreme Court judge said the Gibraltar Parliament may need to address a ‘legislative oversight’ in company law which means companies struck off the local register prior to 2014 cannot be reinstated.
The gap in legislation came to light when owners of Tasmania Investments, a company registered and struck off under the old 1930 Companies Act, tried to have it reinstated on the companies register under the current 2014 legislation.
They found that the way the new law had been drafted meant companies struck off under the old law cannot now be put back onto the register.
Puisne Judge Adrian Jack dismissed Tasmania Investment’s application and said he had no option but to apply the law as it now stands.
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