{
  "url": "https://openlegislation.uk/draft-risk-transformation-regulations-2017/schedule-3/paragraph-10",
  "json_url": "https://openlegislation.uk/draft-risk-transformation-regulations-2017/schedule-3/paragraph-10.json",
  "legislation": "ukdsi/2017/9780111160596",
  "legislation_title": "The Risk Transformation Regulations 2017",
  "legislation_url": "https://openlegislation.uk/draft-risk-transformation-regulations-2017",
  "path": "schedule/3/paragraph/10",
  "kind": "paragraph",
  "number": "10",
  "heading": "Further modification 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 8 and the provisions of the Insolvency (Northern Ireland) Order 1989 specified in the second column of Table 8 apply to the core with the modifications specified in the fourth column of Table 8.\nTable 8\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 core in breach of the requirements of regulation 107.\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 core may also present a petition for the winding up of the core.\nSection 216\nArticle 180\nRestriction on re-use of names\nTreat references to the name of the liquidating company as references to the name of the protected cell company.\nSection 222\nArticle 186\nInability to pay debts: unpaid creditor for £750 or more\nThe written demand must be served on the core 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 45 of Schedule B1\nParagraph 46 of Schedule B1\nPublicity\nThese paragraphs apply to all business documents issued by or on behalf of the protected cell company and all of the protected cell company’s websites.\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 the core acts as agent for the protected cell company (on behalf of the core).\nParagraph 74 of Schedule B1\nParagraph 75 of Schedule B1\nChallenge to administrator’s conduct\nThese paragraphs apply to a person who is a creditor or shareholder in respect of the core of the protected cell company or any cell of the protected cell company to which the administrator’s powers extend.\nParagraph 75 of Schedule B1\nParagraph 76 of Schedule B1\nMisfeasance\nIn sub-paragraphs (2) to (5), references to the company are to be treated as including, where appropriate, references to a cell of the protected cell company.\nParagraph 83 of Schedule B1\nParagraph 84 of Schedule B1\nMoving from administration to liquidation\nIgnore these paragraphs.\nParagraph 84 of Schedule B1\nParagraph 85 of Schedule B1\nMoving from administration to dissolution\nThe notice given under sub-paragraph (1) must also state that the protected cell company has no cells.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Paragraph 45 was inserted by S.I. 2008/1897."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Paragraph 74 was amended by S.I. 2007/2974, S.I. 2008/948 and section 126 of and Schedule 9 to the Small Business, Enterprise and Employment Act 2015."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Paragraph 84 was amended by section 126 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/3/paragraph/10",
    "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."
}