PART 2SPECIAL ADMINISTRATION REGIME FOR PROTECTED ENERGY COMPANIES
Restrictions on other insolvency procedures
24Restrictions on voluntary winding up
1
A protected energy company has no power to pass a resolution for voluntary winding up without the permission of the High Court.
2
Such permission may be granted only on an application made by the company.
3
The High Court is not to grant permission on such an application unless—
a
notice of the application has been served both on the Department and on the Authority; and
b
a period of at least 14 days has elapsed since the service of the last of those notices to be served.
4
If an application for an energy administration order in relation to the company is made to the High Court in accordance with section 19(1) after an application for permission under this section has been made and before it is granted, the Court may exercise its powers under section 20 instead of granting permission.
5
In this section “a resolution for voluntary winding up” has the same meaning as in the Insolvency Order.