Part IIAppointment and Regulation of Undertakers
Chapter IIEnforcement and Insolvency
Restrictions on voluntary winding up and insolvency proceedings
26Restrictions on voluntary winding up and insolvency proceedings
1
Where a company holds an appointment under Chapter I of this Part—
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 [1986 c. 45.] 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 [1986 c. 45.] Insolvency Act 1986.