Article 47 Articles 39 to 46: interpretation

(1)

In Articles 39 to 46—

“group of companies” means a holding company and its subsidiaries within the meaning given by Article 4(1) of the Companies Order, and “member” in relation to such a group is to be construed accordingly;
“holding company” has the meaning given by Article 4(1) of that Order.

(2)

For the purposes of Articles 39 to 46—

(a)

references to a debt due under Article 75 of the 1995 Order include a contingent debt under that Article, and

(b)

references to the amount of such a debt include the amount of such a contingent debt.

(3)

For the purposes of Articles 39 to 46—

(a)

Article 7 of the Insolvency Order (connected persons) applies as it applies for the purposes of any provision of Parts II to VII of that Order, and

(b)

Article 4 of that Order (associated persons) applies as it applies for the purposes of that Order.