SCHEDULES

C1SCHEDULE 3 SPECIAL ADMINISTRATION ORDERS

Annotations:
Modifications etc. (not altering text)

Part I MODIFICATIONS OF THE 1986 ACT

Duties of special administrator

6

1

Section 17 of the 1986 Act (duties of administrator), as applied by this Part of this Schedule, shall have effect as follows.

2

For subsection (2) there shall be substituted the following subsection—

2

Subject to any directions of the court, it shall be the duty of the special administrator to manage the affairs, business and property of the company in accordance with proposals, as for the time being revised under section 23, which have been prepared for the purposes of that section by him or any predecessor of his.

3

In subsection (3), paragraph (a) (right of creditors to require the holding of a creditors’ meeting) shall be omitted.