Source: http://www.legislation.gov.uk/ukpga/2011/5/part/4/enacted
Timestamp: 2016-05-31 13:10:02
Document Index: 657157852

Matched Legal Cases: ['art 4', 'art 4', 'art 4', 'art 4', 'art—\n86', 'art 4']

Skip to main contentSkip to navigationlegislation.gov.ukThe National ArchivesHelpSite MapAccessibilityContact UsCymraegHomeAbout UsBrowse LegislationNew LegislationChanges To LegislationSearch LegislationSearch LegislationTitle: (or keywords in the title)Year:Number:Type:All Legislation (excluding draft)All Primary Legislation UK Public General Acts UK Local Acts Acts of the Scottish Parliament Acts of the National Assembly for Wales Measures of the National Assembly for Wales Church Measures Acts of the Northern Ireland Assembly Acts of the Old Scottish Parliament Acts of the English Parliament Acts of the Old Irish Parliament Acts of the Parliament of Great Britain Northern Ireland Orders in Council Measures of the Northern Ireland Assembly Acts of the Northern Ireland ParliamentAll Secondary Legislation UK Statutory Instruments Wales Statutory Instruments Scottish Statutory Instruments Northern Ireland Statutory Rules Church Instruments UK Ministerial Orders UK Statutory Rules and OrdersAll Draft Legislation UK Draft Statutory Instruments Scottish Draft Statutory Instruments Northern Ireland Draft Statutory RulesAll Impact Assessments UK Impact AssessmentsSearchAdvanced SearchPostal Services Act 2011You are here:2011 c. 5Part 4Table of ContentsContentExplanatory NotesMore ResourcesPrevious: PartNext: PartPlain ViewPrint OptionsWhat VersionLatest available (Revised)Original (As enacted)Advanced FeaturesShow Explanatory Notes for Sections Opening OptionsOpen whole ActOpen Act without schedulesOpen Schedules onlyMore ResourcesOriginal Print PDFView moreStatus:This is the original version (as it was originally enacted).Part 4Special administration regimePostal administration orders68Postal administration orders(1)In this Part “postal administration order” means an order which—
(b)directs that, while the order is in force, the company’s affairs, business and property are to be managed by a person appointed by the court.
(a)manage the company’s affairs, business and property, and
(4)In relation to a postal administration order applying to a foreign company, references in this section to the company’s affairs, business and property are references to its UK affairs, business and property.
69Objective of a postal administration(1)The objective of a postal administration is to secure—
(c)the transfers would produce a result for the company’s creditors as a whole that is better than the result that would be produced without them, or
(d)the transfers would, without prejudicing the interests of the company’s creditors as a whole, produce a result for the company’s members as a whole that is better than the result that would be produced without them.
70Applications for postal administration orders(1)An application for a postal administration order in relation to a company may be made only—
71Powers of court(1)On hearing an application for a postal administration order, the court has the following powers—
72Postal administrators(1)The postal administrator of a company—
73Conduct of administration, transfer schemes etc(1)Schedule 10 contains provision applying the provisions of Schedule B1 to the 1986 Act, and certain other enactments, to postal administration orders.
Restrictions on other insolvency procedures74Winding-up orders(1)This section applies if a person other than the Secretary of State petitions for the winding-up of a company which is a universal service provider.
75Voluntary winding up(1)A company which is a universal service provider has no power to pass a resolution for voluntary winding up without the permission of the court.
76Making of ordinary administration orders(1)This section applies if a person other than the Secretary of State makes an ordinary administration application in relation to a company which is a universal service provider.
77Administrator appointments by creditors etc(1)Subsections (2) to (4) make provision about appointments under paragraph 14 or 22 of Schedule B1 to the 1986 Act (powers to appoint administrators) in relation to a company which is a universal service provider.
78Enforcement of security(1)A person may not take any step to enforce a security over property of a company which is a universal service provider unless—
Financial support for companies in administration79Grants and loans(1)This section applies if a postal administration order has been made in relation to a company.
80Indemnities(1)This section applies if a postal administration order has been made in relation to a company.
81Guarantees where postal administration order is made(1)This section applies if a postal administration order has been made in relation to a company.
Modifications of regulatory conditions etc82Regulatory powers exercisable during postal administration(1)This section applies if a postal administration order has been made.
(8)The Secretary of State’s power to make modifications includes power to make incidental, supplementary, consequential, transitional or transitory modifications.
83Regulatory conditions to secure funding of postal administration order(1)The modifications that may be made under section 82 include, in particular, modifications of any price control provision contained in a regulatory condition for the purpose of raising such amounts as may be determined by the Secretary of State.
Supplementary provisions84Modification of Part 4 under Enterprise Act 2002The power to modify or apply enactments conferred on the Secretary of State by—
85Interpretation of Part 4(1)In this Part—
86Partnerships(1)The Lord Chancellor may, by order made with the concurrence of the Secretary of State and the Lord Chief Justice, apply (with or without modifications) any provision of this Part in relation to partnerships.
87Northern Ireland(1)This section makes provision about the application of this Part to Northern Ireland.
88Review of Part 4(1)As soon as reasonably practicable after the end of the review period, the Secretary of State must—