Part 10Insolvency

Companies etc.

248 Replacement of Part II of Insolvency Act 1986

(1)

The following shall be substituted for Part II of the Insolvency Act 1986 (c. 45) (administration orders)—

“Part IIadministration

8 Administration

Schedule B1 to this Act (which makes provision about the administration of companies) shall have effect.”

(2)

The Schedule B1 set out in Schedule 16 to this Act shall be inserted after Schedule A1 to the Insolvency Act 1986.

(3)

Schedule 17 (minor and consequential amendments relating to administration) shall have effect.

(4)

The Secretary of State may by order amend an enactment in consequence of this section.

(5)

An order under subsection (4)—

(a)

must be made by statutory instrument, and

(b)

shall be subject to annulment in pursuance of a resolution of either House of Parliament.