{
  "url": "https://openlegislation.uk/draft-risk-transformation-regulations-2017/schedule-2/paragraph-8",
  "json_url": "https://openlegislation.uk/draft-risk-transformation-regulations-2017/schedule-2/paragraph-8.json",
  "legislation": "ukdsi/2017/9780111160596",
  "legislation_title": "The Risk Transformation Regulations 2017",
  "legislation_url": "https://openlegislation.uk/draft-risk-transformation-regulations-2017",
  "path": "schedule/2/paragraph/8",
  "kind": "paragraph",
  "number": "8",
  "heading": "Further modifications to specific provisions of the Insolvency Act 1986 and the Insolvency (Northern Ireland) Order 1989",
  "text": "(1) The provisions of the Insolvency Act 1986 specified in the first column of Table 7 and the provisions of the Insolvency (Northern Ireland) Order 1989 specified in the second column of Table 7 apply to a cell with the modifications specified in the fourth column of Table 7.\nTable 7\nInsolvency Act 1986\nInsolvency (Northern Ireland) Order 1989\nSubject Matter\nModification\nSection 76\nArticle 63\nLiability of past directors and shareholders\nThese provisions apply where a protected cell company has made a payment (“the relevant payment” for the purposes of these provisions) to redeem or acquire shares issued on behalf of the cell in breach of the requirements of regulation 106.\nThe reference to the directors who signed the statement made in accordance with section 714(1) to (3) of the Companies Act 2006 for the purposes of the redemption or purchase is to be treated as a reference to the directors who authorised the redemption or purchase.\nSection 103\nArticle 89\nCesser of directors’ powers\nIgnore these provisions.\nSection 124\nArticle 104\nApplication for winding up\nAn administrator of the cell, or an administrator or liquidator of the core, may also present a petition for the winding up of a cell.\nSection 216\nArticle 180\nRestriction on re-use of names\nIgnore these provisions.\nSection 221\nArticle 185\nWinding up of unregistered companies\nWhere an administrator or liquidator of the core of the protected cell company applies for the winding up of a cell, the cell may be wound up if the court is satisfied that the application is made in the discharge of the duty imposed on the administrator or liquidator by paragraph 2(2)(c) of Schedule 3 to these Regulations in relation to the cell.\nSection 222\nArticle 186\nInability to pay debts: unpaid creditor for £750 or more\nThe written demand must be served on the cell by leaving it at the protected cell company’s registered office or in such manner as the court may approve or direct.\nSection 223\nArticle 187\nInability to pay debts: debt remaining unsatisfied after action brought\nIgnore these provisions.\nParagraph 61 of Schedule B1\nParagraph 62 of Schedule B1\nAdministrator’s general powers (removal and appointment of directors)\nIgnore these paragraphs.\nParagraph 69 of Schedule B1\nParagraph 70 of Schedule B1\nAdministrator as agent\nAn administrator of a cell acts as agent for the protected cell company (on behalf of the cell).\nParagraph 83 of Schedule B1\nParagraph 84 of Schedule B1\nMoving from administration to liquidation\nIgnore these paragraphs.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Section 76 has been amended by S.I. 2009/1941 and S.I. 2011/1265."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Section 124 has been amended by section 62 of the Criminal Justice Act 1988 (c. 33), section 60 of the Companies Act 1989 (c. 40), S.I. 2002/1240, section 1 of and Schedule 1 to the Insolvency Act 2000, section 109 of the Courts Act 2003 (c. 39), section 50 of the Companies (Audit, Investigations and Community Enterprise) Act 2004 (c. 45), S.I. 2006/2078, S.I. 2009/1941, S.I. 2013/496 and S.I. 2017/702."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Article 104 has been amended by S.I. 2006/2078 and S.I. 2009/1941."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "Section 221 has been amended by S.I. 2002/1240 and S.I. 2009/1941."
    },
    {
      "type": "footnote",
      "label": "f5",
      "text": "Paragraph 83 has been amended by sections 126 and 128 of and Schedule 9 to the Small Business, Enterprise and Employment Act 2015."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2017/9780111160596/schedule/2/paragraph/8",
    "retrieved_at": "2026-10-30T15:06:04.488256+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}