Paragraph 41 F1

Paragraph 111 is modified so as to read as follows—

“111.

(1)

In this Schedule—

• “administrator” has the meaning given by paragraph 1 and, where the context requires, includes a reference to a former administrator,

• “agricultural floating charge” means a charge which is an agricultural floating charge on its creation,

• F2...

• ...

• “enters administration” has the meaning given by paragraph 1,

• “in administration” has the meaning given by paragraph 1,

• “hire-purchase agreement” includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement,

• “holder of a qualifying agricultural floating charge” in respect of partnership property has the meaning given by paragraph 14,

• “market value” means the amount which would be realised on a sale of property in the open market by a willing vendor,

• “the purpose of administration” means an objective specified in paragraph 3, and

• “unable to pay its debts” has the meaning given by sections 222, 223, and 224.

(2)

A reference in this Schedule to a thing in writing includes a reference to a thing in electronic form.

(3)

In this Schedule a reference to action includes a reference to inaction.”.