SCHEDULES
SCHEDULE 6Insolvency and company law
PART 2Administration of companies
7Release of administrator where no distribution to unsecured creditors other than by virtue of section 176A(2)(a)
1
Paragraph 98 (vacation of office of administrator: discharge from liability) is amended as follows.
2
In sub-paragraph (2)(b) (when discharge takes effect in case of administrator appointed under paragraph 14 or 22), after “22” insert “who has not made a statement under paragraph 52(1)(b)”.
3
In sub-paragraph (2), after paragraph (b) (but before the “or” following it) insert—
ba
in the case of an administrator appointed under paragraph 14 or 22 who has made a statement under paragraph 52(1)(b), at a time decided by the relevant creditors,
4
In sub-paragraph (3)—
a
for the words before paragraph (a) substitute “For the purposes of sub-paragraph (2)(ba), the “relevant creditors” of a company are—”;
b
in paragraph (b), for “give or withhold approval” substitute “decide on the time of discharge”.