SCHEDULES

SCHEDULE 17Administration: minor and consequential amendments

37

(1)

Schedule A1 (moratorium where directors propose voluntary arrangement) shall be amended as follows.

(2)

In paragraph 4(1) (exclusion from eligibility for moratorium)—

(a)

for paragraph (a) substitute—

“(a)

the company is in administration,”,

and

(b)

after paragraph (f) (and before the word “or”) insert—

“(fa)

an administrator appointed under paragraph 22 of Schedule B1 has held office in the period of 12 months ending with the date of filing,”.

(3)

In paragraph 12(1) (effect of moratorium on creditor) for paragraph (d) substitute—

“(d)

no administration application may be made in respect of the company,

(da)

no administrator of the company may be appointed under paragraph 14 or 22 of Schedule B1,”.

(4)

In paragraph 40 (challenge of directors’ actions during moratorium) for sub-paragraph (7) substitute—

“(7)

Sub-paragraph (8) applies where—

(a)

the appointment of an administrator has effect in relation to the company and the appointment took effect before the moratorium came into force, or

(b)

the company is being wound up in pursuance of a petition presented before the moratorium came into force.

(8)

No application for an order under this paragraph may be made by a creditor or member of the company; but such an application may be made instead by the administrator or (as the case may be) the liquidator.”