SCHEDULE 3OTHER CONTRACTUAL TERMS
PART 5RECORDS, INFORMATION, NOTIFICATIONS AND RIGHTS OF ENTRY
F1Notice provisions specific to an agreement with a company limited by shares42A
1
Where a company limited by shares is a party to the agreement, it shall give notice in writing to the Board forthwith when—
a
it passes a resolution or a court of competent jurisdiction makes an order that the contractor be wound up;
b
circumstances arise which might entitle a creditor or a court to appoint a receiver, administrator or administrative receiver for the contractor;
c
circumstances arise which would enable the court to make a winding up order in respect of the contractor;
d
the contractor is unable to pay its debts within the meaning of section 123 of the Insolvency Act 1986 (definition of inability to pay debts); or
e
changes take place in relation to the ownership of shares in the company.
2
A notice under sub-paragraph (e) must—
a
provide the name of any person ceasing to own a share in the company;
b
provide the name of any new person acquiring a share in the company; and
c
confirm that following any changes in share ownership, that the company continues to meet the conditions in section 108(1A) of the 2006 Act.