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Land |
| PPP leases. |
178. - (1) In this Chapter "PPP lease" means any lease-
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(a) which constitutes a PPP agreement; |
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(b) which is entered into in accordance with a PPP agreement; or |
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(c) which is designated as a PPP lease. |
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(2) An instrument containing a PPP lease must also contain, or have endorsed upon it, a certificate-
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(a) signed by or on behalf of the parties to the lease, |
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(b) stating that the instrument contains a PPP lease, and |
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(c) if the instrument contains provisions other than the PPP lease, reasonably identifying the portion which constitutes the PPP lease. |
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(3) Any designation for the purposes of paragraph (c) of subsection (1) above shall be made by the same person, and in the same manner, as if it were a PPP designation.
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(4) No enactment or rule of law regulating the rights and obligations of landlords and tenants shall prejudice the operation of an agreement between a relevant body and a PPP company as to the terms on which land which is the subject of a PPP lease is provided for the PPP company's use.
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(5) Accordingly no such enactment or rule of law applies in relation to the rights and obligations of the parties to a PPP lease-
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(a) so as to exclude or modify in any respect any of the rights and obligations of those parties under the terms of the lease, whether with respect to the termination of the tenancy or any other matter; |
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(b) so as to confer or impose on any party any right or obligation arising out of or connected with anything done or omitted on or in relation to land which is the subject of the lease, in addition to any such right or obligation provided for by the terms of the lease; |
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(c) so as to restrict the enforcement (whether by action for damages or otherwise) by any party to the lease of any obligation of any other party under the lease. |
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(6) In this section "lease" includes an underlease and an agreement for a lease or underlease.
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| Land registration and PPP leases. |
179. - (1) The Land Registration Act 1925 shall be amended in accordance with the following provisions of this section.
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(2) In section 3 (interpretation) after paragraph (xviii) there shall be inserted-
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"(xviiia) "PPP lease" has the same meaning as in Chapter VI of Part IV of the Greater London Authority Act 1999 (public-private partnership agreements)." |
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(3) In section 8(2) (restriction on registering leasehold land held under a lease containing a prohibition or restriction on dealings inter vivos) at the beginning there shall be inserted "Leasehold land held under a PPP lease shall not be registered under this Act; and, subject to that,".
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(4) In section 19 (registration of disposition of freeholds) in paragraph (a) of the proviso to subsection (2) (exception for leases not exceeding twenty-one years) after "twenty-one years" there shall be inserted "or of a PPP lease".
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(5) In section 22 (registration of dispositions of leaseholds) in paragraph (a) of the proviso to subsection (2) (exception for underleases not exceeding twenty-one years) after "twenty-one years" there shall be inserted "or of an underlease which is a PPP lease".
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(6) Any interest in land consisting of a PPP lease shall, unless registered or otherwise entered on the register, be an overriding interest for the purposes of the Land Registration Act 1925; but the registrar shall not be required by virtue of section 70(2) or (3) of that Act to enter any note or notice of any such lease, or of any claim to any such lease, in the register.
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(7) Accordingly, in section 70 (overriding interests)-
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(a) in subsection (1), after paragraph (k) there shall be inserted the following paragraph- |
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(b) after subsection (3) there shall be inserted the following subsection- |
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"(3A) Neither subsection (2) nor subsection (3) of this section shall apply in the case of a PPP lease."
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(8) In section 123 (compulsory registration: dispositions to which requirement to register applies) in subsection (6) (interpretation) the word "and" immediately preceding paragraph (c) shall be omitted and at the end of that paragraph there shall be added "; and
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(d) "term of years absolute" does not include a PPP lease". |
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Insolvency |
| Meaning and effect of PPP administration orders. |
180. - (1) A "PPP administration order" is an order of the court made in accordance with section 181, 182 or 183 below in relation to a PPP company and directing that, during the period for which the order is in force, the affairs, business and property of the company shall be managed, by a person appointed by the court,-
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(a) for the achievement of the purposes of such an order; and |
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(b) in a manner which protects the respective interests of the members and creditors of the company. |
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(2) The purposes of a PPP administration order made in relation to any company shall be-
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(a) the transfer to another company, or (as respects different parts of its undertaking) to two or more different companies, as a going concern, of so much of the company's undertaking as it is necessary to transfer in order to ensure that the relevant activities may be properly carried on; and |
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(b) the carrying on of those relevant activities pending the making of the transfer. |
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(3) Schedule 10 to this Act shall have effect for applying provisions of the Insolvency Act 1986 where a PPP administration order is made.
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(4) Schedule 11 to this Act shall have effect for enabling provision to be made with respect to cases in which, in pursuance of a PPP administration order, another company is to carry on all or any of the relevant activities of a PPP company in place of that company.
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(5) Without prejudice to paragraph 20 of Schedule 10 to this Act, the power conferred by section 411 of the Insolvency Act 1986 to make rules shall apply for the purpose of giving effect to the PPP administration order provisions of this Act as it applies for the purpose of giving effect to Parts I to VII of that Act, but taking any reference in that section to those Parts as a reference to those provisions.
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(6) For the purposes of this Chapter, the "relevant activities", in relation to a PPP company, are the activities carried out, or to be carried out, by that company in performing its obligations under the PPP agreement to which it is party.
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(7) In this section-
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"business" and "property" have the same meaning as they have in the Insolvency Act 1986; |
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"the court", in the case of any PPP company, means the court having jurisdiction to wind up the company; |
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"the PPP administration order provisions of this Act" means this section, sections 181 to 184 below and Schedules 10 and 11 to this Act. |
| PPP administration orders made on special petitions. |
181. - (1) If, on an application made to the court by petition presented by the Mayor, the court is satisfied that either or both of the grounds specified in subsection (2) below is satisfied in relation to that PPP company, the court may make a PPP administration order in relation to that company.
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(2) The grounds mentioned in subsection (1) above are, in relation to any company,-
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(a) that the company is or is likely to be unable to pay its debts; |
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(b) that, in a case in which the Secretary of State has certified that it would be appropriate for him to petition for the winding up of the company under section 124A of the 1986 Act (petition by the Secretary of State following inspectors' report etc), it would be just and equitable, as mentioned in that section, for the company to be wound up. |
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(3) Notice of any petition under this section for a PPP administration order shall be given forthwith to such persons and in such manner as may be prescribed by rules made under section 411 of the 1986 Act; and no such petition shall be withdrawn except with the leave of the court.
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(4) Subsections (4) and (5) of section 9 of the 1986 Act (powers on application for administration order) shall apply on the hearing of the petition for a PPP administration order in relation to any company as they apply on the hearing of a petition for an administration order.
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(5) Subsections (1), (2), (4) and (5) of section 10 of the 1986 Act (effect of petition) shall apply in the case of a petition for a PPP administration order in relation to any company as if-
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(a) the reference in subsection (1) to an administration order were a reference to a PPP administration order; and |
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(b) paragraph (b) of that subsection did require the leave of the court for the taking of any of the steps mentioned in paragraphs (b) and (c) of subsection (2) (appointment of, and exercise of functions by, administrative receiver). |
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(6) For the purposes of this section a company is unable to pay its debts if-
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(a) it is a company which is deemed to be so unable under section 123 of the 1986 Act (definition of inability to pay debts); or |
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(b) it is an unregistered company, within the meaning of Part V of the 1986 Act, which is deemed, by virtue of any of sections 222 to 224 of that Act, to be so unable for the purposes of section 221 of that Act (winding up of unregistered companies). |
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(7) The functions of the Mayor under this section may be exercised by Transport for London acting as his agent, and where Transport for London so acts references to the Mayor shall be construed accordingly.
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(8) In this section-
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"the 1986 Act" means the Insolvency Act 1986; |
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"the court" has the same meaning as in section 180. |
| Restriction on making winding-up order. |
182. - (1) Where a petition for the winding up of a PPP company is presented by a person other than the Mayor, the court shall not make a winding-up order in relation to that company on that petition unless-
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(a) notice of the petition has been served on the Mayor; and |
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(b) a period of at least fourteen days has elapsed since the service of that notice. |
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(2) Where a petition for the winding up of a PPP company has been presented, the Mayor may, at any time before a winding-up order is made on the petition, make an application to the court for a PPP administration order in relation to that company; and where such an application is made the court may, if it is satisfied as mentioned in section 181(1) above, make a PPP administration order instead of a winding-up order.
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(3) Where, on a petition for the winding up of a PPP company, the court makes, or proposes to make, a PPP administration order by virtue of subsection (2) above, subsections (4) and (5) of section 9 of the Insolvency Act 1986 (powers on application for administration order) shall apply on the hearing of that petition as they apply on the hearing of a petition for an administration order.
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(4) In this section "the court" has the same meaning as in section 180 above.
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