Part 10Insolvency

Companies etc.

255 Application of law about company arrangement or administration to non-company

1

The Treasury may with the concurrence of the Secretary of State by order provide for a company arrangement or administration provision to apply (with or without modification) in relation to—

F4a

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

b

a society registered under section 7(1)(b), (c), (d), (e) or (f) of the Friendly Societies Act 1974 (c. 46),

c

a friendly society within the meaning of the Friendly Societies Act 1992 (c. 40), or

d

an unregistered friendly society.

2

In subsection (1) “company arrangement or administration provision” means—

a

a provision of Part I of the Insolvency Act 1986 (company voluntary arrangements),

b

a provision of Part II of that Act (administration), F5...

c

F1Part 26 of the Companies Act 2006 (c. 6) (compromise or arrangement with creditors)F6, and

d

Part 26A of that Act (compromise or arrangement with creditors where company in financial difficulty).

3

An order under this section may not provide for a company arrangement or administration provision to apply in relation to a society which is F2—

a

a private registered provider of social housing, or

b

registered as a social landlord under Part I of the Housing Act 1996 (c. 52) or under F3Part 2 of the Housing (Scotland) Act 2010 (asp 17) .

4

An order under this section—

a

may make provision generally or for a specified purpose only,

b

may make different provision for different purposes, and

c

may make transitional, consequential or incidental provision.

5

Provision by virtue of subsection (4)(c) may, in particular—

a

apply an enactment (with or without modification);

b

amend an enactment.

6

An order under this section—

a

must be made by statutory instrument, and

b

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