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Insolvency Act 1986
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Changes over time for: Paragraph 40
Version Superseded: 08/07/2021
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Insolvency Act 1986, Paragraph 40 is up to date with all changes known to be in force on or before 14 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Dismissal of pending winding-up petitionE+W+S
[F140(1)A petition for the winding up of a company—
(a)shall be dismissed on the making of an administration order in respect of the company, and
(b)shall be suspended while the company is in administration following an appointment under paragraph 14.
(2)Sub-paragraph (1)(b) does not apply to a petition presented under—
(a)section 124A (public interest), or
[F2(aa)section 124B (SEs),]
(b)section 367 of the Financial Services and Markets Act 2000 (c. 8) (petition by [F3Financial Conduct Authority or Prudential Regulation Authority]).
(3)Where an administrator becomes aware that a petition was presented under a provision referred to in sub-paragraph (2) before his appointment, he shall apply to the court for directions under paragraph 63.]
Textual Amendments
F1Sch. B1 inserted (15.9.2003) by 2002 c. 40, ss. 248(2), 279, Sch. 16 (with s. 249(1)-(3)(6)); S.I. 2003/2093, art. 2(1), Sch. 1 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))
F2Sch. B1 para. 40(2)(aa) inserted (8.10.2004) by The European Public Limited-Liability Company Regulations 2004 (S.I. 2004/2326), reg. 73(4)(c)
F3Words in Sch. B1 para. 40(2)(b) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 55(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
Modifications etc. (not altering text)
C1Sch. B1 para. 40 applied (with modifications) (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2009 (c. 1), ss. 119, 263(1)(2) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch. para. 2
C2Sch. B1 paras. 40-49 modified (5.7.2018) by Housing and Planning Act 2016 (c. 22), s. 216(3), Sch. 5 Pts. 1, 2; S.I. 2018/805, reg. 3(b)
C3Sch. B1 para. 40(1)(a) applied (with modifications) (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2009 (c. 1), ss. 145, 263(1)(2) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch. para. 3
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