{
  "url": "https://openlegislation.uk/insolvency-northern-ireland-order-1989/article-59F",
  "json_url": "https://openlegislation.uk/insolvency-northern-ireland-order-1989/article-59F.json",
  "legislation": "nisi/1989/2405",
  "legislation_title": "The Insolvency (Northern Ireland) Order 1989",
  "legislation_url": "https://openlegislation.uk/insolvency-northern-ireland-order-1989",
  "path": "article/59F",
  "kind": "article",
  "number": "59F",
  "heading": "Fifth exception: project finance",
  "text": "(1) Article 59A does not prevent the appointment of an administrative receiver of a project company of a project which—\n(a) is a financed project, and\n(b) includes step-in rights.\n(2) In this Article—\n(a) a project is “financed” if under an agreement relating to the project a project company incurs, or when the agreement is entered into is expected to incur, a debt of at least £50 million for the purposes of carrying out the project,\n(b) “project company” has the meaning given by paragraph 7 of Schedule 1A, and\n(c) “step-in rights” has the meaning given by paragraph 6 of that Schedule.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Arts. 59A - 59J and preceding cross - heading inserted (27.3.2006) by Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10)), arts. 1(3), 5(1) (with art. 4); S.R. 2006/21, art. 2 (with S.R. 2006/22, arts. 2 - 7)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisi/1989/2405/article/59F",
    "retrieved_at": "2026-10-29T04:47:04.938020+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."
}