# Insolvency Act 1986, Paragraph 40: Dismissal of pending winding-up petition

Extent: E+W+S

(1) A petition for the winding up of a company—
(a) shall be dismissed on the making of an administration order in respect of the company, and
(b) shall be suspended while the company is in administration following an appointment under paragraph 14.
(2) Sub-paragraph (1)(b) does not apply to a petition presented under—
(a) section 124A (public interest), or
(aa) section 124B (SEs),
(b) section 367 of the Financial Services and Markets Act 2000 (c. 8) (petition by Financial Conduct Authority or Prudential Regulation Authority).
(3) Where an administrator becomes aware that a petition was presented under a provision referred to in sub-paragraph (2) before his appointment, he shall apply to the court for directions under paragraph 63.

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Source: https://www.legislation.gov.uk/ukpga/1986/45/schedule/B1/paragraph/40 (the official version)
Page: https://openlegislation.uk/insolvency-act-1986/schedule-B1/paragraph-40
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.