Paragraph 2

For the purposes of these Regulations, an insolvency event takes place in relation to a body corporate where—

(a)

an order for its winding up is made by the court under Part 4 or 5 of the 1986 Act or Part 5 or 6 of the 1989 Order;

(b)

a resolution for its voluntary winding up is passed under section 84 of the 1986 Act or Article 70 of the 1989 Order^f1;

(c)

an administrative receiver, within the meaning of section 251 of the 1986 Act or Article 5(1) of the 1989 Order, is appointed;

(d)

it enters administration within the meaning of paragraph 1(2)(b) of Schedule B1 to the 1986 Act^f2 or paragraph 2(2)(b) of Schedule B1 to the 1989 Order^f3;

(e)

a voluntary arrangement takes effect under Part 1 of the 1986 Act or Part 2 of the 1989 Order.

Annotations

Footnotes

f1: Section 84 of the 1986 Act and Article 70 of the 1989 Order were amended by S.I. 2007/2194; there are other amendments to both those provisions but none is relevant.
f2: Schedule B1 to the 1986 Act was inserted by section 248(2) of, and Schedule 16 to, the Enterprise Act 2002 (c. 40).
f3: Schedule B1 to the 1989 Order was inserted by Article 3(2) of, and Schedule 1 to, S.R. 2005 No. 1455.