SCHEDULES
SCHEDULE 14PPP administration orders
Part I Modifications of the 1986 Act
Duties of special PPP administrator
6
(1)
Section 17 of the 1986 Act (duties of administrator), as applied by this Part of this Schedule, shall have effect in accordance with the following provisions of this paragraph.
(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 PPP 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.