PART 2 N.I. SPECIAL ADMINISTRATION REGIME FOR PROTECTED ENERGY COMPANIES

Restrictions on other insolvency procedures N.I.

Restrictions on enforcement of security N.I.

27—(1) No step to enforce a security over property of a protected energy company is to be taken by any person, unless—

(a) notice of intention to do so 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.

(2) In the case of a protected energy company which is a non-NI company, the reference in subsection (1) to the property of the company is a reference only to its property in Northern Ireland.