SCHEDULES

Valid from 31/01/2019

SCHEDULE 4E+WConduct of education administration: companies

Specific modifications to Schedule B1 to the Insolvency Act 1986E+W

35E+WParagraph 111 (interpretation) is to have effect as if the following were substituted for it—

“111(1)In this Schedule—

  • “administrative receiver” has the meaning given by section 251,

  • “ “appropriate national authority”—

    (a)

    in relation to a company conducting a designated further education institution in England, means the Secretary of State;

    (b)

    in relation to a company conducting a designated further education institution in Wales, means the Welsh Ministers;

  • “designated further education institution” has the meaning given by section 5;

  • “education administrator” includes a reference to a former education administrator, where the context requires;

  • “enters education administration” has the meaning given by paragraph 1;

  • “floating charge” means a charge which is a floating charge on its creation;

  • “governing body”, in relation to a designated further education institution, means any board of governors of the institution or any persons responsible for the management of the institution, whether or not formally constituted as a governing body or board of governors;

  • “hire-purchase agreement” includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement;

  • “in education administration” has the meaning given by paragraph 1;

  • “market value” means the amount which would be realised on a sale of property in the open market by a willing vendor;

  • “the relevant institution” in relation to company, means the institution which the company is established to conduct;

  • “senior post holder”, in relation to a relevant institution, means a person appointed as a senior post holder at the institution.

(2)For the purposes of this Schedule a reference to an education administration order includes a reference to an appointment under paragraph 91 or 103.

(3)In this Schedule a reference to action includes a reference to inaction.”