C1C2F1PART 1AMoratorium

Annotations:
Amendments (Textual)
Modifications etc. (not altering text)

CHAPTER 8Miscellaneous and general

Special rules for certain kinds of company etc

Power to modify this Part etc in relation to certain companies13HA

1

Regulations may—

a

modify this Part as it applies in relation to a company for which there is a special administration regime, or

b

make provision in connection with the interaction between this Part and any other insolvency procedure in relation to such a company.

2

The power in paragraph (1) may, in particular, be used to amend, repeal, revoke or otherwise modify any statutory provision.

3

In this Article—

  • “ordinary administration” means the insolvency procedure provided for by Schedule B1;

  • “special administration regime” means provision made by any statutory provision for an insolvency procedure that—

    1. a

      is similar or corresponds to ordinary administration, and

    2. b

      provides for the administrator to have one or more special objectives instead of or in addition to the objectives of ordinary administration.

4

Regulations may not be made under paragraph (1) unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.