PART 1Introductory provisions
Citation, commencement and application1
1
These Regulations may be cited as the Administration (Restrictions on Disposal etc. to Connected Persons) Regulations 2021 and come into force on 30th April 2021.
2
These Regulations apply only to administrations that commence on or after the day on which these Regulations come into force.
Interpretation2
In these Regulations—
“the Act” means the Insolvency Act 1986;
“the company” means the company whose business or assets are the subject of the substantial disposal;
“qualifying report” has the meaning given to it in regulation 5;
“previous report” has the meaning given to it in regulation 8;
“relevant property” means the property being disposed of, hired out or sold by the substantial disposal;
“Schedule B1” means Schedule B1 to the Act; and
“substantial disposal” has the meaning given to it in regulation 3.