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47. The Financial Markets and Insolvency Regulations 1991(1) shall be amended as follows.
48. In regulation 14 (limitation on disapplication of sections 10(1)(b) and 11(3)(c) of Insolvency Act 1986 in relation to CGO Service charges)
(a)for the sub-heading to that regulation substitute—
“Limitation on disapplication of moratorium on certain legal processes under Schedule B1 to the Insolvency Act 1986 (administration) in relation to CGO Service charges”,
(b)in paragraph (1) for “a petition” substitute “an application”,
(c)after paragraph (1) insert—
“(1A) A reference in paragraph (1) to an application for an administration order shall be treated as including a reference to—
(a)appointing an administrator under paragraph 14 or 22 of Schedule B1 to the Insolvency Act 1986, or
(b)filing with the court a notice of intention to appoint an administrator under either of those paragraphs,
and a reference to “an administration order” shall include the appointment of an administrator under paragraph 14 or 22 of Schedule B1 to the Insolvency Act 1986.”, and
(d)in paragraph (2) for “The disapplication of section 10(1)(b) and 11(3)(c) of the Insolvency Act 1986” substitute
“The disapplication of paragraph 43(2) of Schedule B1 to the Insolvency Act 1986 (including that provisions as applied by paragraph 44 of that Schedule)”.
49. In regulation 15 (ability of administrator or receiver to recover assets in case of property subject to CGO service charge or Talisman charge)—
(a)in paragraph (1) for “The disapplication of sections 15(1) and (2), 43 and 61 of the Insolvency Act 1986 by section 175(1)(b) and 175(3) of the Act shall cease to have effect” substitute—
“The disapplication—
by section 175(1)(b) of the Act, of paragraphs 70, 71 and 72 of Schedule B1 to the Insolvency Act 1986, and
by section 175(3) of the Act, of sections 43 and 61 of the 1986 Act,
shall cease to have effect”, and
(b)after paragraph (1) insert—
“(1A) A reference in paragraph (1) to “an administration order” shall include the appointment of an administrator under paragraph 14 or 22 of Schedule B1 to the Insolvency Act 1986.”.
50. In regulation 19(2) (court having jurisdiction in respect of proceedings under Part VII of Act)—
(a)after “(2)” insert “and (2A)”,
(b)for “petition” substitute “application”, and
(c)after “presented” insert “or the notice of intention to appoint has been filed”.
S.I. 1991/880.
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