Article 4.1 Power to make a block transfer order

(1)

Part 4 applies where it is expedient to transfer some or all of the cases in which an outgoing office-holder (“the outgoing office-holder”) holds office to one or more office-holders (“the replacement office-holder”) in a single transaction where the outgoing office-holder—

(a)

dies;

(b)

retires from practice; or

(c)

is otherwise unable or unwilling to continue in office.

(2)

In a case to which this Part applies the Court of Session has the power to make an order (“a block transfer order”) appointing a replacement office-holder in the place of the outgoing office-holder to be—

(a)

administrator in any administration; F1...

(b)

supervisor of a CVA F2or

F3(c)

a monitor in respect of a moratorium under Part A1 of the Act.

(3)

The replacement office-holder must be qualified to act as an insolvency practitioner in relation to the company.

Annotations

Textual amendments

F1: Word in rule 4.1(2)(a) omitted (1.10.2021) by virtue of The Insolvency (Scotland) (Company Voluntary Arrangements and Administration) (Amendment) Rules 2021 (S.I. 2021/1026), rules 1, 28(2)(a) (with rules 4, 5)
F2: Word in rule 4.1(2)(b) inserted (1.10.2021) by The Insolvency (Scotland) (Company Voluntary Arrangements and Administration) (Amendment) Rules 2021 (S.I. 2021/1026), rules 1, 28(2)(b) (with rules 4, 5)
F3: Rule 4.1(2)(c) inserted (1.10.2021) by The Insolvency (Scotland) (Company Voluntary Arrangements and Administration) (Amendment) Rules 2021 (S.I. 2021/1026), rules 1, 28(2)(c) (with rules 4, 5)