Source: http://www.legislation.gov.uk/nisi/1989/2405/schedule/B1/part/3?timeline=true
Timestamp: 2013-05-24 05:23:50
Document Index: 260287595

Matched Legal Cases: ['art. 68', 'art. 248', 'art. 279', 'art. 279', 'art. 386', 'art. 3', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2']

What VersionLatest available (Revised)Original (As made)Advanced FeaturesShow Geographical Extent(e.g. England, Wales, Scotland, Northern Ireland)Show Timeline of Changes Opening OptionsOpen whole OrderOpen Order without schedulesOpen Schedules onlyChanges over time for: NATURE OF ADMINISTRATION
Alternative versions:27/03/2006 - AmendmentChanges to legislation:There are outstanding changes not yet made by the legislation.gov.uk editorial team to The Insolvency (Northern Ireland) Order 1989. Any changes that have already been made by the team appear in the content and are referenced with annotations.Changes to LegislationRevised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.Changes and effects yet to be applied to the whole Order, associated Parts and Chapters:Changes and effectsThis section lists the changes and effects yet to be applied to the whole Order, associated Parts and Chapters where applicable. This includes any insertions of whole new Parts, Chapters or provisions yet to be inserted into this Order. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing.Order applied (with modifications) by S.I. 2009/3056 Sch. 1 para. 2Order applied (with modifications) by 1969 c. 24 (N.I.) s. 64(1)(2) (as substituted) by S.I. 2009/1941 Sch. 1 para. 21(8)Order applied (with modifications) by SI 1985/1205 (N.I. 12) art. 68(1)(2) (as substituted) by S.I. 2009/1941 Sch. 1 para. 66Order applied in part (with modifications) by 2009 c. 1 s. 103 134Order applied in part (with modifications) by 2009 c. 1 s. 145 167Order excluded by 2008 c. 32 s. 56(5)Order excluded by 1998 c. 17 s. 38A (as inserted) by 2008 c. 32 s. 74Order power to amend conferred by 2009 c. 1 s. 158(2)(b) 159(2)(b)Order words substituted by 2009 c. 1 (N.I.) Sch. 6 para. 1(1)(a)Order words substituted by 2009 c. 1 (N.I.) Sch. 6 para. 1(1)(b)Whole provisions yet to be inserted into this Order (including any effects on those provisions):Pt. 7A inserted by 2010 c. 16 (N.I.) s. 1(b)Pt. 7A-10 heading inserted by 2010 c. 16 (N.I.) s. 1(b)s. 39A inserted by S.I. 2009/1941 Sch. 1 para. 110(2)Sch. 2ZA inserted by 2010 c. 16 (N.I.) s. 2Sch. 2ZA para. 7 8 modified by SR 1991/364, rule 5A.18 by S.R. 2011/151 Sch. 1Sch. 2ZB inserted by 2010 c. 16 (N.I.) s. 3art. 248A inserted by 2010 c. 16 (N.I.) Sch. para. 4(7)art. 279AA inserted by 2009 c. 26 Sch. 7 para. 61art. 279BA inserted by 2009 c. 26 Sch. 7 para. 63art. 386 387 inserted by S.I. 2009/1941 Sch. 1 para. 115Commencement Orders yet to be applied to the The Insolvency (Northern Ireland) Order 1989:Commencement OrdersThis section lists the commencement orders yet to be applied to the whole Order. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing. Where applicable the commencement orders are listed under two headings, firstly those that bring some part of the Order you are viewing into force and secondly, those that bring into force legislation that affects some part of the legislation you are viewing. If you are viewing a prospective version or there is a prospective version available there may be commencement orders listed here that are relevant to the provision you are viewing.Commencement Orders bringing legislation that affects this Order into force:S.I. 2008/2860 art. 3 4 Sch. 1 commences (2006 c. 46)S.I. 2009/45 art. 2-4 Commencement OrderS.I. 2009/296 art. 2 3 Sch. commences (2009 c. 1)S.I. 2011/2329 art. 2 3 commences (2011 c. 5)S.R. 2009/172 art. 2 commences (2009 c. 3 (N.I.))S.R. 2011/13 art. 2 commences (2010 c. 16)S.R. 2011/95 art. 2 commences (2011 c. 6 (N.I.)) [F1NATURE OF ADMINISTRATION N.I.Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.F1
Administration N.I. 2. — (1) For the purposes of this Order “ administrator ” of a company means a person appointed under this Schedule to manage the company's affairs, business and property. (2) For the purposes of this Order— (a) a company is “ in administration ” while the appointment of an administrator of the company has effect, (b) a company “ enters administration ” when the appointment of an administrator takes effect, (c) a company ceases to be in administration when the appointment of an administrator of the company ceases to have effect in accordance with this Schedule, and (d) a company does not cease to be in administration merely because an administrator vacates office (by reason of resignation, death or otherwise) or is removed from office. 3. A person may be appointed as administrator of a company— (a) by administration order of the High Court under paragraph 11, (b) by the holder of a floating charge under paragraph 15, or (c) by the company or its directors under paragraph 23. Purpose of administration N.I. 4. — (1) The administrator of a company must perform his functions with the objective of— (a) rescuing the company as a going concern, or (b) achieving a better result for the company's creditors as a whole than would be likely if the company were wound up (without first being in administration), or (c) realising property in order to make a distribution to one or more secured or preferential creditors. (2) Subject to sub-paragraph (4), the administrator of a company must perform his functions in the interests of the company's creditors as a whole. (3) The administrator must perform his functions with the objective specified in sub-paragraph (1)(a) unless he thinks either— (a) that it is not reasonably practicable to achieve that objective, or (b) that the objective specified in sub-paragraph (1)(b) would achieve a better result for the company's creditors as a whole. (4) The administrator may perform his functions with the objective specified in sub-paragraph (1)(c) only if— (a) he thinks that it is not reasonably practicable to achieve either of the objectives specified in sub-paragraph (1)(a) and (b), and (b) he does not unnecessarily harm the interests of the creditors of the company as a whole. 5. The administrator of a company must perform his functions as quickly and efficiently as is reasonably practicable. Status of administrator N.I. 6. An administrator is an officer of the High Court (whether or not he is appointed by the Court). General restrictions N.I. 7. A person may be appointed as administrator of a company only if he is qualified to act as an insolvency practitioner in relation to the company. 8. A person may not be appointed as administrator of a company which is in administration (subject to the provisions of paragraphs 91 to 98 and 101 to 104 about replacement and additional administrators). 9. — (1) A person may not be appointed as administrator of a company which is in liquidation by virtue of— (a) a resolution for voluntary winding up, or (b) a winding-up order. (2) Sub-paragraph (1)(a) is subject to paragraph 39. (3) Sub-paragraph (1)(b) is subject to paragraphs 38 and 39. 10. — (1) A person may not be appointed as administrator of a company which— (a) has a liability in respect of a deposit which it accepted in accordance with the Banking Act 1979 (c. 37) or 1987 (c. 22), but (b) is not an authorised deposit taker. (2) A person may not be appointed as administrator of a company which effects or carries out contracts of insurance. (3) But sub-paragraph (2) does not apply to a company which— (a) is exempt from the general prohibition in relation to effecting or carrying out contracts of insurance, or (b) is an authorised deposit taker effecting or carrying out contracts of insurance in the course of a banking business. (4) In this paragraph— “ authorised deposit taker ” means a person with permission under Part IV of the Financial Services and Markets Act 2000 (c. 8) to accept deposits, and “ the general prohibition ” has the meaning given by section 19 of that Act. (5) This paragraph shall be construed in accordance with— (a) section 22 of the Financial Services and Markets Act 2000 (classes of regulated activity and categories of investment), (b) any relevant order under that section, and (c) Schedule 2 to that Act (regulated activities).] Previous: PartNext: PartBack to topOptions/HelpPrint OptionsPrint The Whole OrderPDF The Whole OrderWeb page The Whole OrderPrint The Whole SchedulePDF The Whole ScheduleWeb page The Whole SchedulePrint This Part onlyPDF This Part onlyWeb page This Part onlyYou have chosen to open The Whole OrderThe Whole Order you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.Would you like to continue?Continue to openYou have chosen to open The Whole Order as a PDFThe Whole Order you have selected contains over 200 provisions and might take some time to download.Would you like to continue?Continue to openYou have chosen to open the Whole OrderThe Whole Order you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.Would you like to continue?Continue to openYou have chosen to open the Whole Order without Schedules