Paragraph 20 Interpretation

(1)

In this Part of this Schedule (other than in paragraph 18) “insolvency practitioner” means a person acting in any qualifying insolvency proceedings in the Territory as—

(a)

a liquidator of a company or partnership,

(b)

a trustee in bankruptcy,

(c)

an administrator of the insolvent estate of a deceased person, or

(d)

a receiver or manager of any property.

(2)

In this Part of this Schedule “qualifying insolvency proceedings” means—

(a)

any proceedings, under any law for the time being in force in the Territory relating to insolvency, for the winding up of a company or an unregistered company and includes any voluntary winding up of a company under any such law,

(b)

any proceedings, under any such law, for the winding up of an insolvent partnership,

(c)

any proceedings in bankruptcy, or

(d)

any proceedings, under any such law, in relation to the insolvent estate of a deceased person.

(3)

In this Part of this Schedule “the relevant officer” means the proper officer within the meaning given in paragraph 4.

(4)

In this Part of this Schedule references to the proceeds of sale or realisation of property are references to the proceeds after deduction of the costs of sale or realisation.