27Power of Minister to consent to institution of proceeding

27 Power of Minister to consent to institution of proceeding

Where:

(a) the institution of a particular proceeding under the Companies Ordinance 1962 was subject to the consent of the Minister; and

(b) the proceeding was not instituted before the repeal of that Ordinance but may be instituted after the repeal of that Ordinance by reason of the operation of subsection 29(2) of the Companies and Securities (Interpretation and Miscellaneous Provisions) Act 1980;

the repeal of that Ordinance does not affect the power of the Minister to consent to the institution of the proceeding.