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Water Industry Act 1991
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26 Restrictions on voluntary winding up and insolvency proceedings.E+W
(1)Where a company holds an appointment under Chapter I of this Part [F1or is a qualifying licensed water supplier]—
(a)the company shall not be wound up voluntarily;
(b)no administration order shall be made in relation to the company under Part II of the M1Insolvency Act 1986; and
(c)no step shall be taken by any person to enforce any security over the company’s property except where that person has served fourteen days’ notice of his intention to take that step on the Secretary of State and on the Director.
(2)In this section “security” and “property” have the same meanings as in Parts I to VII of the M2Insolvency Act 1986.
Textual Amendments
F1Words in s. 26 inserted (1.12.2005) by Water Act 2003 (c. 37), ss. 101(1), 105(3), Sch. 8 para. 11; S.I. 2005/2714, art. 3(c) (with Sch. para. 8)
Modifications etc. (not altering text)
C1S. 26 applied (with modifications) (28.6.2013) by The Water Industry (Specified Infrastructure Projects) (English Undertakers) Regulations 2013 (S.I. 2013/1582), reg. 1(1)(b), Sch. 1 para. 7(6) (with reg. 1(1)(c))
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