Paragraph 3 General application of the insolvency legislation

The insolvency legislation applies to the core as if—

(a)

the core is a body corporate with distinct legal personality;

(b)

the core was incorporated when the protected cell company was incorporated;

(c)

the core is registered in the part of the United Kingdom in which the protected cell company has its registered office;

(d)

the registered office of the cell is the registered office of the protected cell company;

(e)

the registered name of the core is “the core of” followed by the name of the protected cell company;

(f)

the registrar of companies is the FCA;

(g)

a person who is or was a director, shadow director, officer, employee or agent of the protected cell company is or was a director, shadow director, officer, employee or agent of the core (as the case may be);

(h)

shares issued by the protected cell company on behalf of the core are shares issued by the core;

(i)

the core’s property, assets, liabilities, debts and creditors are determined in accordance with regulation 48(6);

(j)

things done by the protected cell company on behalf of the core are things done by the core;

(k)

things done to the protected cell company in respect of the core are things done to the core;

(l)

judgments or orders made against the protected cell company in respect of the core are judgments or orders made against the core;

(m)

the books, papers, records, registers and other documents of the protected cell company are, insofar as they relate to the core, books, papers, records, registers and documents of the core; and

(n)

an associate of the protected cell company (within the meaning given by section 435 of the Insolvency Act 1986 or Article 4 of the Insolvency (Northern Ireland) Order 1989) is an associate of the core.