The Water Industry (Special Administration) Regulations 2024

1. Introductory Text

2. PART 1 General

   1. 1. Citation

   2. 2. Commencement

   3. 3. Extent

   4. 4. Interpretation

3. PART 2 Application of the Insolvency Act 1986 to special administration

   1. 5. Application, disapplication and modification

4. PART 3 General modifications

   1. 6. General modifications to provisions about administration

5. PART 4 The Insolvency Act 1986 – specific modifications

   1. CHAPTER 1 Schedule B1 – specific modifications

      1. 7. Introduction

      2. 8. Special administrator

      3. 9. Status of special administrator

      4. 10. Powers of the court

      5. 11. Dismissal of pending winding-up application

      6. 12. Moratorium on insolvency proceedings

      7. 13. Moratorium on other legal process

      8. 14. Interim moratorium

      9. 15. Announcement of special administrator’s appointment

      10. 16. Statement of company’s affairs

      11. 17. Special administrator’s proposals

      12. 18. Revision of special administrator’s proposals

      13. 19. Special administrator’s power to manage

      14. 20. Special administrator’s general powers and dealings with protected land

      15. 21. Special administrator’s general duties

      16. 22. Charged property: non-floating charge

      17. 23. Hire-purchase property

      18. 24. Protection for priority creditor

      19. 25. Challenge to special administrator’s conduct of company

      20. 26. Court order ending special administration

      21. 27. Moving from special administration to creditors’ voluntary liquidation

      22. 28. Moving from special administration to dissolution

      23. 29. Resignation of special administrator

      24. 30. Special administrator ceasing to be qualified

      25. 31. Supplying vacancy in office of special administrator

      26. 32. Application to replace special administrator

      27. 33. Replacement of special administrator

      28. 34. Vacation of office: discharge from liability

      29. 35. Vacation of office: charges and liabilities

      30. 36. References to joint special administrators

      31. 37. Appointment of joint and concurrent special administrators

      32. 38. Penalties

      33. 39. Extension of time limits

      34. 40. Interpretation

   2. CHAPTER 2 Insolvency Act 1986 (except Schedule B1) – specific modifications

      1. 41. Introduction

      2. 42. Moratorium coming to an end

      3. 43. Approval of voluntary arrangements

      4. 44. Effect of approval of voluntary arrangements

      5. 45. Challenge of decisions

      6. 46. Floating charge holder not to appoint administrative receiver

      7. 47. Avoidance of certain floating charges

      8. 48. Expressions used generally

      9. 49. Power to make rules

      10. 50. Insolvency rules committee

      11. 51. Co-operation between courts exercising jurisdiction in relation to insolvency

      12. 52. Powers of special administrator

      13. 53. Punishment of offences

6. PART 5 The Water Industry Act 1991 – amendment

   1. 54. Restrictions on voluntary winding up and insolvency proceedings

7. PART 6 Companies Act 2006 – specific modifications

   1. 55. Application of this Part

   2. 56. Modifications to Parts 26 and 26A of the Companies Act 2006

   3. 57. Interpretation of Parts 26 and 26A

   4. 58. Court order for holding meeting of creditors or members

   5. 59. Court sanction for compromise or arrangement

   6. 60. Powers of court to facilitate reconstruction or amalgamation

   7. 61. Court order for holding of meeting

   8. 62. Court sanction for compromise or arrangement

   9. 63. Powers of court to facilitate reconstruction or amalgamation

8. PART 7 Miscellaneous

   1. 64. Transitional provision

   2. 65. Consequential provision

9. Signature

10. Explanatory Note