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Section 1217RKA No claim if company in administration or liquidationF1F2

(1)

A company may not make a claim under section 1217RD or section 1217RG at a time when it is in administration or liquidation.

(2)

For the purposes of this section, a company is in administration if—

(a)

it is in administration under Part 2 of the Insolvency Act 1986 or Part 3 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)), or

(b)

a corresponding situation under the law of a country or territory outside the United Kingdom exists in relation to the company.

(3)

For the purposes of this section, a company is in liquidation if—

(a)

it is in liquidation within the meaning of section 247 of that Act or Article 6 of that Order, or

(b)

a corresponding situation under the law of a country or territory outside the United Kingdom exists in relation to the company.

Annotations

Textual amendments

F1

Pt. 15D inserted (with effect in accordance with Sch. 8 para. 17(1)(a) of the amending Act) by Finance Act 2016 (c. 24), Sch. 8 para. 1

F2

S. 1217RKA and cross-heading inserted (with effect in accordance with Sch. 4 para. 10(2) of the amending Act) by Finance Act 2024 (c. 3), Sch. 4 para. 10(1)

Notes on Part 15D

Modifications

C1

Pt. 15D modified (with application in accordance with s. 19(1)(4) of the amending Act) by Finance Act 2022 (c. 3), s. 19(1)(4)

Notes on Chapter 3

Modifications

C1

Pt. 15D modified (with application in accordance with s. 19(1)(4) of the amending Act) by Finance Act 2022 (c. 3), s. 19(1)(4)