SCHEDULE 3Administration and liquidation of the core: modification of insolvency legislation

Further modifications to subordinate legislation

11.—(1) The provisions of any subordinate legislation made under the Insolvency Act 1986 or the Insolvency (Northern Ireland) Order 1989 apply to the core with the following modifications.

(2) Any provision of subordinate legislation prescribing the circumstances in which a person may act in the ways specified in section 216(3) of the Insolvency Act 1986(1) or Article 180(3) of the Insolvency (Northern Ireland) Order 1989(2) where the whole or substantially the whole of the business of a company is acquired from that company is to be ignored.

(3) The provisions of the subordinate legislation apply with any other necessary modifications.

(1)

See rules 22.4 and 22.5 of the Insolvency (England and Wales) Rules 2016 and rule 4.80 of the Insolvency (Scotland) Rules 1986.

(2)

See rule 4.238 of the Insolvency Rules (Northern Ireland) 1991.