# The Insolvent Partnerships Order 1994, Paragraph 41


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,
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“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.”.

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Source: https://www.legislation.gov.uk/uksi/1994/2421/schedule/2/paragraph/41 (the official version)
Page: https://openlegislation.uk/insolvent-partnerships-order-1994/schedule-2/paragraph-41
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.