Water Industry Act 1991

26 Restrictions on voluntary winding up and insolvency proceedings. E+W

(1) Where a company holds an appointment under Chapter I of this Part [F1 or 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 M1 Insolvency 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 M2 Insolvency Act 1986.

Textual Amendments

F1 Words 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)

C1 S. 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))

Marginal Citations

M1 1986 c. 45.

M2 1986 c. 45.