Enterprise Act 2002

34 (1) Section 387 (preferential debts: “the relevant date”) shall be amended as follows. E+W+S

(2) In subsection (2) for paragraphs (a) and (b) substitute—

“(a) if the company is in administration, the date on which it entered administration, and

(b) if the company is not in administration, the date on which the voluntary arrangement takes effect.”

(3) In subsection (3)—

(a) in paragraphs (a), (aa) and (ab) for “the date of the making of the administration order” substitute “ the date on which the company entered administration ”,

(b) after paragraph (b) insert—

“(ba) if the case does not fall within paragraph (a), (aa), (ab) or (b) and the company is being wound up following administration pursuant to paragraph 83 of Schedule B1, the relevant date is the date on which the company entered administration;”,

and

(c) in paragraph (c) for “paragraph (a), (aa), (ab) or (b)” substitute “ paragraph (a), (aa), (ab), (b) or (ba) ”.

(4) After subsection (3) insert—

“(3A) In relation to a company which is in administration (and to which no other provision of this section applies) the relevant date is the date on which the company enters administration.”