Source: http://www.legislation.gov.uk/nisi/1990/1504/article/97
Timestamp: 2019-09-15 17:24:46
Document Index: 94261775

Matched Legal Cases: ['Art. 97', 'art. 2', 'art. 97', 'art. 2', 'Art. 97', 'art. 2']

The Companies (No. 2) (Northern Ireland) Order 1990, Section 97 is up to date with all changes known to be in force on or before 15 September 2019. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
97.—[F1(1) The following provisions of Schedule B1 to the Insolvency Order (administration) do not apply in relation to a market charge—
(2) However, where a market charge falls to be enforced after[F2the occurrence of an event to which paragraph (2A) applies], and there exists another charge over some or all of the same property ranking in priority to or pari passu with the market charge,[F3 on the application of any person interested] the court may order that there shall be taken after enforcement of the market charge such steps as the court may direct for the purpose of ensuring that the chargee under the other charge is not prejudiced by the enforcement of the market charge.
[F4(2A) This paragraph applies to—
F1Art. 97(1)(1A) substituted (27.3.2006) by Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10)), arts. 1(3), 3(3), Sch. 2 para. 52(2); S.R. 2006/21, art. 2 (with transitional provisions and savings in S.R. 2006/22, arts. 2-7)
F2Words in art. 97(2) substituted (27.3.2006) by Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10)), arts. 1(3), 3(3), Sch. 2 para. 52(3); S.R. 2006/21, art. 2 (with transitional provisions and savings in S.R. 2006/22, arts. 2-7)
F3SR 1991/443
F4Art. 97(2A) inserted (27.3.2006) by Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10)), arts. 1(3), 3(3), Sch. 2 para. 52(4); S.R. 2006/21, art. 2 (with transitional provisions and savings in S.R. 2006/22, arts. 2-7)