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type TmyCompo = class(Tcomponent)
 private
 timer1: TTimer;
 procedure timer1timer(sender: TObject);
 procedure xy;
end;

implementation

procedure TmyCompo.xy;
begin
 timer1:=TTImer.create;
 timer1.intervall:=1000;
 timer1.ontimer:=timer1timer;
 timer1.enabled:=true;
end;

procedure TMyCompo.timer1timer;
begin
*********HIER SPRINGT ER NIE REIN!!!!*********** warum??
end;                    

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procedure TmyCompo.xy; 
begin 
 timer1:=TTImer.create; 
 timer1.intervall:=1000; 
 timer1.ontimer:=timer1timer; 
 timer1.enabled:=true;
 insertConrol(timer1); 
end;                    

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... z.b. im OnDestroy 

removeControl(timer1);
timer1.Free;                    

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program TimerTest;
{$APPTYPE CONSOLE}
uses
  SysUtils, Windows, ExtCtrls, Classes;

var
 Timer: TTimer;

procedure TimerTimer(Sender: TObject);
begin
  WriteLn('bla');
end;

begin
  Timer := TTimer.Create(NIL);
  Timer.Interval := 200;
  Timer.OnTimer := TimerTimer; //[Fehler] Project1.dpr(17): Inkompatible Typen: Methodenzeiger und reguläre Prozedur
  Timer.Enabled := true;
  ReadLn;
end.