Regulation 35 Vacation of office: charges and liabilities

in sub-paragraph (4), for the words from “A sum payable” to “before cessation” there were substituted “A sum falling within sub-paragraph (4A)”;

after sub-paragraph (4) there were inserted—

“(4A)

A sum falls within this paragraph if it is—

(a)

a sum payable in respect of a debt or liability arising out of a contract that was entered into before cessation by the former special administrator or a predecessor,

(b)

a sum that must be repaid by the company in respect of a grant that was made before cessation under section 153 of the 1991 Act as is mentioned in subsection (3) of that section,

(c)

a sum—

(i)

that must be repaid by the company in respect of a loan made before cessation under that section, or

(ii)

that must be paid by the company in respect of interest payable on such a loan,

(d)

a sum payable in respect of an indemnity given by the Secretary of State under section 153 of the 1991 Act, or

(e)

a sum payable by the company under section 154(5) of the 1991 Act in respect of a guarantee given before cessation.”; and

in sub-paragraph (5), for “Sub-paragraph (4)” there were substituted “Sub-paragraph (4A)(a)”.