SCHEDULES

SCHEDULE 17Administration: minor and consequential amendments

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1

Schedule 8 (scope of insolvency rules) shall be amended as follows.

2

At the end of paragraph 2 (which becomes sub-paragraph (1)) add—

2

Rules made by virtue of this paragraph about the consequence of failure to comply with practice or procedure may, in particular, include provision about the termination of administration.

3

In paragraph 10 (provision as to committees) for “section 26, 49, 68, 101, 141 or 142 of this Act” substitute “ section 49, 68, 101, 141 or 142 of, or paragraph 57 of Schedule B1 to, this Act ”.

4

After paragraph 14 insert—

14A

Provision about the application of section 176A of this Act which may include, in particular—

a

provision enabling a receiver to institute winding up proceedings;

b

provision requiring a receiver to institute winding up proceedings.

5

After paragraph 14A (inserted by sub-paragraph (4) above) insert—

14BAdministration

Provision which—

a

applies in relation to administration, with or without modifications, a provision of Parts IV to VII of this Act, or

b

serves a purpose in relation to administration similar to a purpose that may be served by the rules in relation to winding up by virtue of a provision of this Schedule.

6

In paragraph 29 (general provision) for “section 22, 47, 66, 131, 143(2) or 235 of this Act” substitute “ section 47, 66, 131, 143(2) or 235 of, or paragraph 47 of Schedule B1 to, this Act ”.