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Income Tax Act 2007

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Meaning of a company being “in administration”U.K.

89(1)Sub-paragraph (2) applies in relation to—U.K.

(a)an administration order under Part 3 of the Insolvency (Northern Ireland) Order 1989 the petition for which was presented before 6 April 2007, or

(b)any corresponding order under the law of a country or territory outside the United Kingdom the proceedings for which were instituted before that date.

(2)Section 331 applies with the substitution for subsection (2) of—

(2)A company is “in administration” if—

(a)it is in administration within the meaning of Schedule B1 to the Insolvency Act 1986, or

(b)there is in force in relation to it—

(i)an administration order under Part 3 of the Insolvency (Northern Ireland) Order 1989, or

(ii)any corresponding order under the law of a country or territory outside the United Kingdom.

(3)In relation to an administration order under Part 2 of the Insolvency Act 1986 the petition for which was presented before 15 September 2003, section 331 applies with the substitution for subsection (2) of—

(2)A company is “in administration” if there is in force in relation to it—

(a)an administration order under Part 2 of the Insolvency Act 1986 or Part 3 of the Insolvency (Northern Ireland) Order 1989, or

(b)any corresponding order under the law of a country or territory outside the United Kingdom.

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