SCHEDULES
F1C1C2C3SCHEDULE B1 ADMINISTRATION
Sch. B1 applied in part (with modifications) (5.10.2004) by Energy Act 2004 (c. 20), ss. 159(1), 198, Sch. 20 Pts. 1-3; S.I. 2004/2575, art. 2(1), Sch. 1
Sch. B1 applied (with modifications) (1.7. 2005) by S.I. 1994/2421, art. 6(1), Sch. 2 (as amended (1.7.2005) by S.I. 2005/1516, arts. 3, 7, Sch. 1 (with art. 2))
Sch. B1: specified provisions applied (with modifications) (1.10.2011) by Postal Services Act 2011 (c. 5), ss. 73, 93(2)(3), {Sch. 10 Pts. 1, 2}; S.I. 2011/2329, art. 3 (with arts. 4, 5)
ENDING ADMINISTRATION
83Moving from administration to creditors’ voluntary liquidation
1
This paragraph applies in England and Wales where the administrator of a company thinks—
a
that the total amount which each secured creditor of the company is likely to receive has been paid to him or set aside for him, and
b
that a distribution will be made to unsecured creditors of the company (if there are any).
2
This paragraph applies in Scotland where the administrator of a company thinks—
a
that each secured creditor of the company will receive payment in respect of his debt, and
b
that a distribution will be made to unsecured creditors (if there are any).
3
The administrator may send to the registrar of companies a notice that this paragraph applies.
4
On receipt of a notice under sub-paragraph (3) the registrar shall register it.
5
If an administrator sends a notice under sub-paragraph (3) he shall as soon as is reasonably practicable—
a
file a copy of the notice with the court, and
b
send a copy of the notice to each creditor of whose claim and address he is aware.
6
On the registration of a notice under sub-paragraph (3)—
a
the appointment of an administrator in respect of the company shall cease to have effect, and
b
the company shall be wound up as if a resolution for voluntary winding up under section 84 were passed on the day on which the notice is registered.
7
The liquidator for the purposes of the winding up shall be—
a
a person nominated by the creditors of the company in the prescribed manner and within the prescribed period, or
b
if no person is nominated under paragraph (a), the administrator.
8
In the application of Part IV to a winding up by virtue of this paragraph—
a
section 85 shall not apply,
b
section 86 shall apply as if the reference to the time of the passing of the resolution for voluntary winding up were a reference to the beginning of the date of registration of the notice under sub-paragraph (3),
c
section 89 does not apply,
d
sections 98, 99 and 100 shall not apply,
e
section 129 shall apply as if the reference to the time of the passing of the resolution for voluntary winding up were a reference to the beginning of the date of registration of the notice under sub-paragraph (3), and
f
any creditors’ committee which is in existence immediately before the company ceases to be in administration shall continue in existence after that time as if appointed as a liquidation committee under section 101.
Sch. 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))