Source: http://www.legislation.gov.uk/ukpga/2016/22/schedule/5/part/3/enacted
Timestamp: 2018-04-22 14:47:53
Document Index: 615649122

Matched Legal Cases: ['ART 3', 'art 1', 'art 1', 'art 1', 'art 1', 'art 3', 'art 1', 'art 1']

PART 3Other modifications
39(1)References within sub-paragraph (2) which are contained—
(a)in the Insolvency Act 1986 (other than Schedule B1 to that Act), or
(b)in other legislation passed or made before this Act,
include references to whatever corresponds to them for the purposes of this paragraph.
(2)The references are those (however expressed) which are or include references to—
(a)an administrator appointed by an administration order,
(b)an administration order,
(c)an application for an administration order,
(d)a company in administration,
(e)entering into administration, and
(f)Schedule B1 to the Insolvency Act 1986 or a provision of that Schedule.
(a)a housing administrator of a company corresponds to an administrator appointed by an administration order,
(b)a housing administration order in relation to a company corresponds to an administration order,
(c)an application for a housing administration order in relation to a company corresponds to an application for an administration order,
(d)a company in housing administration corresponds to a company in administration,
(e)entering into housing administration in relation to a company corresponds to entering into administration, and
(f)what corresponds to Schedule B1 to the Insolvency Act 1986 or a provision of that Schedule is that Schedule or that provision as applied by Part 1 of this Schedule.
40(1)Paragraph 39, in its application to section 1(3) of the Insolvency Act 1986, does not entitle the housing administrator of an unregistered company to make a proposal under Part 1 of the Insolvency Act 1986 (company voluntary arrangements).
(2)Paragraph 39 does not confer any right under section 7(4) of the Insolvency Act 1986 (implementation of voluntary arrangements) for a supervisor of voluntary arrangements to apply for a housing administration order in relation to a company that is a private registered provider.
(3)Paragraph 39 does not apply to section 359 of the Financial Services and Markets Act 2000 (administration order).
Modifications of the Insolvency Act 1986
41The following provisions of the Insolvency Act 1986 are to have effect in the case of any housing administration with the following modifications.
42Section 5 (effect of approval of voluntary arrangements) is to have effect as if after subsection (4) there were inserted—
“(4A)Where the company is in housing administration, the court must not make an order or give a direction under subsection (3) unless—
(a)the court has given the Secretary of State or the Regulator of Social Housing a reasonable opportunity of making representations to it about the proposed order or direction, and
(b)the order or direction is consistent with the objectives of the housing administration.
(4B)In subsection (4A) “in housing administration” and “objectives of the housing administration” are to be read in accordance with Schedule B1 to this Act, as applied by Part 1 of Schedule 5 to the Housing and Planning Act 2016.”
43Section 6 (challenge of decisions in relation to voluntary arrangements) is to have effect as if—
(a)in subsection (2), for “this section” there were substituted “subsection (1)”,
“(2AA)Subject to this section, where a voluntary arrangement in relation to a company in housing administration is approved at the meetings summoned under section 3, an application to the court may be made—
(b)with the consent of the Secretary of State, by the Regulator of Social Housing,
on the ground that the voluntary arrangement is not consistent with the achievement of the objectives of the housing administration.”,
(c)in subsection (4), after “subsection (1)” there were inserted “or, in the case of an application under subsection (2AA), as to the ground mentioned in that subsection”, and
(d)after subsection (7) there were inserted—
“(7A)In this section “in housing administration” and “objectives of the housing administration” are to be read in accordance with Schedule B1 to this Act, as applied by Part 1 of Schedule 5 to the Housing and Planning Act 2016.”
44In section 129(1A) (commencement of winding up), the reference to paragraph 13(1)(e) of Schedule B1 is to include section 100(1)(e) of this Act.
45(1)The Secretary of State may by regulations amend this Part of this Schedule so as to add further modifications.
(2)The further modifications that may be made are confined to such modifications of—
(b)other legislation passed or made before this Act that relate to insolvency or make provision by reference to anything that is or may be done under the Insolvency Act 1986,
as the Secretary of State considers appropriate in relation to any provision made by or under this Chapter.
Interpretation of Part 3 of Schedule
46In this Part of this Schedule—
“administration order”, “administrator”, “enters administration” and “in administration” are to be read in accordance with Schedule B1 to the Insolvency Act 1986 (disregarding Part 1 of this Schedule), and
“enters housing administration” and “in housing administration” are to be read in accordance with Schedule B1 to the Insolvency Act 1986 (as applied by Part 1 of this Schedule).