220 Meaning and effect of PPP administration orders.E+W+S
(1)A PPP administration order is an order of the court made in accordance with section 221, 222 or 223 below in relation to a PPP company and directing that, during the period for which the order is in force, the affairs, business and property of the company shall be managed, by a person appointed by the court,—
(a)for the achievement of the purposes of such an order; and
(b)in a manner which protects the respective interests of the members and creditors of the company.
(2)The purposes of a PPP administration order made in relation to any company shall be—
(a)the transfer to another company, or (as respects different parts of its undertaking) to two or more different companies, as a going concern, of so much of the company’s undertaking as it is necessary to transfer in order to ensure that the relevant activities may be properly carried on; and
(b)the carrying on of those relevant activities pending the making of the transfer.
(3)Schedule 14 to this Act shall have effect for applying provisions of the M1Insolvency Act 1986 where a PPP administration order is made.
(4)Schedule 15 to this Act shall have effect for enabling provision to be made with respect to cases in which, in pursuance of a PPP administration order, another company is to carry on all or any of the relevant activities of a PPP company in place of that company.
(5)Without prejudice to paragraph 20 of Schedule 14 to this Act, the power conferred by section 411 of the M2Insolvency Act 1986 to make rules shall apply for the purpose of giving effect to the PPP administration order provisions of this Act as it applies for the purpose of giving effect to Parts I to VII of that Act, but taking any reference in that section to those Parts as a reference to those provisions.
(6)For the purposes of this Chapter, the relevant activities, in relation to a PPP company, are the activities carried out, or to be carried out, by that company in performing its obligations under the PPP agreement to which it is party.
(7)In this section—
business and property have the same meaning as they have in the M3Insolvency Act 1986;
[F1“the court”, in relation to a PPP company, means the court—
(a)having jurisdiction to wind up the company, or
(b)that would have such jurisdiction apart from section 221(2) or 441(2) of the Insolvency Act 1986 (exclusion of winding up jurisdiction in case of companies having principal place of business in, or incorporated in, Northern Ireland);]
the PPP administration order provisions of this Act means this section, sections 221 to 224 below and Schedules 14 and 15 to this Act.
Textual Amendments
F1Words in s. 220(7) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 178(4) (with art. 10)
Commencement Information
I1S. 220 in force at 15.7.2003 by S.I. 2003/1920, art. 2(b)
Marginal Citations