SCHEDULES

F1SCHEDULE B1ADMINISTRATION

EFFECT OF ADMINISTRATION

Moratorium on insolvency proceedings

43.

(1)

This paragraph applies to a company in administration.

(2)

No resolution may be passed for the winding up of the company.

(3)

No order may be made for the winding up of the company.

(4)

Sub-paragraph (3) does not apply to an order made on a petition presented under—

(a)

Article 104A (public interest),

(b)

Article 104B (SEs), or

(c)

section 367 of the Financial Services and Markets Act 2000 (c. 8) (petition by Financial Services Authority).

(5)

If a petition presented under a provision referred to in sub-paragraph (4) comes to the attention of the administrator, he shall apply to the High Court for directions under paragraph 64.