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| Restrictions on voluntary winding-up etc. |
183. - (1) No resolution for voluntary winding up shall be passed by a PPP company without leave of the court granted on an application made for the purpose by the company.
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(2) No such leave shall be granted unless-
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(a) notice of the application 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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(3) Where an application for leave under subsection (1) above has been made by a PPP company, the Mayor may, at any time before leave has been granted under subsection (1) above, 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 granting leave under subsection (1) above.
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(4) Where, on an application for leave under subsection (1) above, the court makes, or proposes to make, a PPP administration order by virtue of subsection (3) 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 application as they apply on the hearing of a petition for an administration order.
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(5) No administration order under Part II of the Insolvency Act 1986 shall be made in relation to a PPP company unless-
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(a) notice of the application for the order 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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(6) Where an application for an administration order under Part II of the Insolvency Act 1986 has been made in the case of a PPP company, the Mayor may, at any time before such an order has been made on that application, 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 an administration order under Part II of the Insolvency Act 1986.
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(7) No step shall be taken by any person to enforce any security over a PPP company's property, except where that person has served fourteen days' notice of his intention to take that step on the Mayor.
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(8) In this section-
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"the court" has the same meaning as in section 180 above; |
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"resolution for voluntary winding up" has the same meaning as in the Insolvency Act 1986; |
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"security" and "property" have the same meaning as in the Insolvency Act 1986. |
| Meaning of "company" and application of provisions to unregistered, foreign and other companies. |
184. - (1) In the PPP administration order provisions of this Act-
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(a) any company formed and registered under the Companies Act 1985 or any existing company within the meaning given in section 735(1) of that Act; and
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(b) any unregistered company; and
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"unregistered company" has the meaning given in Part V of the 1986 Act. |
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(2) In the application of section 180(1) above in a case where the PPP company there mentioned is a foreign company, the reference to the affairs, business and property of the company shall be taken as a reference to the affairs and business of the company, so far as carried on in Great Britain, and the property of the company within Great Britain.
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(3) In the application of section 9(5) of the 1986 Act by virtue of subsection (4) of section 181 above or subsection (3) of section 182 above where the petition mentioned in the subsection in question relates to a company which is a foreign company, the reference to restricting the exercise of any powers of the directors or of the company shall be taken as a reference to restricting-
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(a) the exercise within Great Britain of the powers of the directors or of the company; or |
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(b) any exercise of those powers so far as relating to the affairs, business or property of the company in Great Britain. |
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(4) In the application of provisions in section 10 of the 1986 Act by virtue of subsection (5) of section 181 above where the company mentioned in that subsection is a foreign company-
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(a) paragraph (a) of subsection (1) shall be omitted; |
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(b) any reference in paragraph (b) or (c) of that subsection to property or goods shall be taken as a reference to property or (as the case may be) goods for the time being situated within Great Britain; |
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(c) in paragraph (c) of that subsection- |
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(i) the reference to the commencement or continuation of proceedings shall be taken as a reference to the commencement or continuation of proceedings in Great Britain; and
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(ii) the reference to the levying of distress against the company shall be taken as a reference to the levying of distress against the foreign company to the extent of its property in England and Wales; and
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(d) any reference in subsection (2) to an administrative receiver shall be taken to include a reference to any person performing, in relation to the foreign company, functions equivalent to those of an administrative receiver, within the meaning of section 251 of the 1986 Act. |
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(5) Subsections (1) to (4) of section 183 above shall not have effect in relation to a PPP company which is a foreign company.
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(6) In the application of subsection (7) of that section where the PPP company there mentioned is a foreign company, the reference to the company's property shall be taken as a reference to such of its property as is for the time being situated in Great Britain.
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(7) In this section-
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"the 1986 Act" means the Insolvency Act 1986; |
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"foreign company" means a company incorporated outside Great Britain; |
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"the PPP administration order provisions of this Act" means sections 180 to 183 above, this section and Schedules 10 and 11 to this Act. |
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Miscellaneous and supplementary |
| Statutory undertakers. |
185. Where, by virtue of a PPP agreement, statutory functions relating to a railway are exercisable by a PPP company, the PPP company shall, as respects any matter arising from the carrying out of the subject-matter of the PPP agreement, be taken to be authorised by an enactment to carry on a railway undertaking.
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