# The Insolvency (Northern Ireland) Order 1989, Article 59B: First exception: capital market


(1) Article 59A 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—
(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
(b) the arrangement involves the issue of a capital market investment.
(2) In paragraph (1)—
“capital market arrangement” means an arrangement of a kind described in paragraph 1 of Schedule 1A, and
“capital market investment” means an investment of a kind described in paragraph 2 or 3 of that Schedule.

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Source: https://www.legislation.gov.uk/nisi/1989/2405/article/59B (the official version)
Page: https://openlegislation.uk/insolvency-northern-ireland-order-1989/article-59B
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.