PART 4Protected Cell Companies
CHAPTER 15Insolvency
Disapplication of other insolvency proceedings169
1
Except to the extent provided for in this Chapter—
a
a protected cell company may not propose a voluntary arrangement;
b
neither a protected cell company nor a part of a protected cell company may be placed into administration;
c
a receiver (including an administrative receiver) may not be appointed in respect of any property held by the protected cell company;
d
a protected cell company may not pass a resolution for the winding up of the protected cell company or any part of the protected cell company;
e
a winding-up order may not be made against the protected cell company or any part of the protected cell company;
f
the estate of a protected cell company or any part of a protected cell company may not be sequestrated under section 6 of the Bankruptcy (Scotland) Act 2016;
g
neither the protected cell company nor a part of the protected cell company may be subject to any other process under the insolvency legislation which applies to a person who is insolvent or who is likely to become insolvent M1.
2
The reference in paragraph (1)(d) to winding up includes a reference to a members' voluntary winding up under Chapter 3 of Part 4 of the Insolvency Act 1986 or Chapter 3 of Part 5 of the Insolvency (Northern Ireland) Order 1989.