Version Superseded: 06/04/2017
Point in time view as at 31/05/2002. This version of this provision no longer has effect.
Insolvency Act 1986, Paragraph 55 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
[F155(1)This paragraph applies where an administrator reports to the court that—
(a)an initial creditors’ meeting has failed to approve the administrator’s proposals presented to it, or
(b)a creditors’ meeting has failed to approve a revision of the administrator’s proposals presented to it.
(2)The court may—
(a)provide that the appointment of an administrator shall cease to have effect from a specified time;
(b)adjourn the hearing conditionally or unconditionally;
(c)make an interim order;
(d)make an order on a petition for winding up suspended by virtue of paragraph 40(1)(b);
(e)make any other order (including an order making consequential provision) that the court thinks appropriate.]
Textual Amendments
F1Sch. B1 inserted (15.9.2003) by 2002 c. 40, ss. 248(2), 279, Sch. 16 (with s. 249(1)-(3)(6)); S.I. 2003/2093, art. 2(1), Sch. 1 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))
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