SCHEDULES

SCHEDULE 4Conduct of education administration: companies

Introductory

I11

1

The provisions of the Insolvency Act 1986 mentioned in sub-paragraph (2) apply in relation to an education administration of a further education body that is a company as they apply in relation to administration under that Act, but with the modifications set out in this Schedule.

2

The provisions are—

a

sections 233 to 237 (management by administrators, liquidators etc);

b

sections 238 to 241 (transactions at an undervalue and preferences);

c

section 244 (extortionate credit bargains);

d

section 246 (unenforceability of liens on books, etc);

e

section 246ZA to 246ZC (fraudulent and wrongful trading);

f

section 246ZD (power to assign certain causes of action);

g

section 246B (use of websites);

h

section 246C (creditors' ability to opt out of receiving certain notices);

i

sections 247, 248(b), 249 and 251 (interpretation);

j

the applicable provisions of Schedule B1 (conduct of administration).

3

The applicable provisions of Schedule B1 are—

a

paragraphs 1, 40 to 49, 54, 59, 60, 61 to 68, 70 to 75, 79, 83 to 91, 98 to 104, 106 and 107 and 109 to 111, and

b

paragraph 50 (until the repeal of that paragraph by Schedule 10 to the Small Business, Enterprise and Employment Act 2015 comes into force).