OpenLegislation

Paragraph 83 F1

Northern Ireland

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

This paragraph applies where a winding-up order is made for the winding up of a company in administration on a petition presented under—

(a)

Article 104A (public interest),

(b)

Article 104B (SEs), or

(c)

section 367 of the Financial Services and Markets Act 2000 (c. 8) (petition by F2Financial Conduct Authority or the Prudential Regulation Authority).

(2)

This paragraph also applies where a provisional liquidator of a company in administration is appointed following the presentation of a petition under any of the provisions listed in sub-paragraph (1).

(3)

The High Court shall order—

(a)

that the appointment of the administrator shall cease to have effect, or

(b)

that the appointment of the administrator shall continue to have effect.

(4)

If the Court makes an order under sub-paragraph (3)(b) it may also—

(a)

specify which of the powers under this Schedule are to be exercisable by the administrator, and

(b)

order that this Schedule shall have effect in relation to the administrator with specified modifications.

Annotations

Textual amendments

F1

Sch. B1 inserted (27.3.2006) by Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10)), arts. 1(3), 3(2), Sch. 1 (with art. 4); S.R. 2006/21, art. 2 (with S.R. 2006/22, arts. 2-7)

F2

Words in Sch. B1 para. 83(1)(c) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 7(d)

Notes on Schedule B1

Modifications

C1

Sch. B1 applied (with modifications) (1.10.2011) by Postal Services Act 2011 (c. 5), ss. 73, 87(1)(2), 93(3), Sch. 10 Pt. 1, Sch. 10 Pt. 2

C2

Sch. B1 applied (with modifications) by S.R. 1995/225, Sch. 2 (as amended (19.12.2018) by The Banks and Building Societies (Priorities on Insolvency) Order 2018 (S.I. 2018/1244), arts. 1(2), 36 (with art. 3))

C3

Sch. B1 modified by S.R. 1995/225, art. 6, Sch. 2 (as modified (28.12.2020 until IP completion day when the amending provision ceases to have effect in accordance with reg. 1(4) of the amending S.I.) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(4), 122(3) (with reg. 108))

C4

Sch. B1 modified (28.12.2020 until IP completion day when the amending provision ceases to have effect in accordance with reg. 1(4) of the amending S.I.) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(4), 120 (with reg. 108)

C5

Sch. B1 applied (with modifications) (4.1.2024) by S.I. 2021/716, Sch. 2A para. 6 (as inserted by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), reg. 1(2), Sch. 2)