- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (a wnaed Fel)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol). This item of legislation is currently only available in its original format.
3.—(1) An administrator must not make a substantial disposal unless either one of the following two conditions is met—
(a)the approval of the company’s creditors for the making of that disposal has been obtained in accordance with regulation 4, or
(b)a qualifying report in respect of the making of that disposal has been obtained.
(2) Where the condition in paragraph (1)(b) is met and an administrator makes a substantial disposal the notification requirements in regulation 9 must be met.
(3) For the purposes of these Regulations a “substantial disposal”—
(a)means a disposal, hiring out or sale to one or more connected persons(1), during the period of 8 weeks beginning with the day on which the company enters administration(2), of what is, in the administrator’s opinion, all or a substantial part of the company’s business or assets, and
(b)includes a disposal which is effected by a series of transactions.
“Connected person” is defined in paragraph 61(A)(3) of Schedule B1.
“Enters administration” is defined in paragraph 2(2)(b) of Schedule B1.
Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
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Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Rule and provides information about its policy objective and policy implications. They aim to make the Statutory Rule accessible to readers who are not legally qualified and accompany any Northern Ireland Statutory Rule or Draft Northern Ireland Statutory Rule laid before the UK Parliament during the suspension of the Northern Ireland Assembly.
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