{
  "url": "https://openlegislation.uk/insolvency-act-1986/section-72B",
  "json_url": "https://openlegislation.uk/insolvency-act-1986/section-72B.json",
  "legislation": "ukpga/1986/45",
  "legislation_title": "Insolvency Act 1986",
  "legislation_url": "https://openlegislation.uk/insolvency-act-1986",
  "path": "section/72B",
  "kind": "section",
  "number": "72B",
  "heading": "First exception: capital market",
  "text": "(1) Section 72A does not prevent the appointment of an administrative receiver in pursuance of an agreement which is or forms part of a capital market arrangement if—\n(a) a party incurs or, when the agreement was entered into was expected to incur, a debt of at least £50 million under the arrangement, and\n(b) the arrangement involves the issue of a capital market investment.\n(2) In subsection (1)—\n“capital market arrangement” means an arrangement of a kind described in paragraph 1 of Schedule 2A, and\n“capital market investment” means an investment of a kind described in paragraph 2 or 3 of that Schedule.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. III Ch. IV (ss. 72A-72H) inserted (18.3.2003 for the purpose of giving effect to the insertion of s. 72H(2)-(5) and otherwise 15.9.2003) by 2002 c. 40, ss. 250(1), 279 (with s. 249(6)); S.I. 2003/765, art. 2, Sch.; S.I. 2003/2093, art. 2(1), Sch. 1 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1986/45/section/72B",
    "retrieved_at": "2026-10-29T09:55:00.443447+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."
}