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PART XIN.I.PREFERENTIAL [F1AND NON-PREFERENTIAL] DEBTS IN COMPANY AND INDIVIDUAL INSOLVENCY

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“The relevant date”N.I.

347.—(1) This Article explains references in Schedule 4 to the relevant date (being the date which determines the existence and amount of a preferential debt).

(2) For the purposes of Article 17 (meetings to consider company voluntary arrangement), the relevant date in relation to a company which is not being wound up is—

[F2(a)if the company is in administration, the date on which it entered administration, and

(b)if the company is not in administration, the date on which the voluntary arrangement takes effect.]

F3(2A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) In relation to a company which is being wound up, the following applies—

(a)if the winding up is by the High Court, and the winding‐up order was made immediately upon the discharge of an administration order, the relevant date is [F4the date on which the company entered administration];

F5(aa). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F5(ab). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b)if the case does not fall within sub‐paragraph (a) F6... and the company—

(i)is being wound up by the Court, and

(ii)had not commenced to be wound up voluntarily before the date of the making of the winding‐up order,

the relevant date is the date of the appointment (or first appointment) of a provisional liquidator or, if no such appointment has been made, the date of the winding‐up order;

[F7(ba)if the case does not fall within sub-paragraph (a) F8... or (b) and the company is being wound up following administration pursuant to paragraph 84 of Schedule B1, the relevant date is the date on which the company entered administration;]

(c)F9 if the case does not fall within [F10 sub-paragraph (a), F11... (b) or (ba)], the relevant date is the date of the passing of the resolution for the winding up of the company.

[F12(3A) In relation to a company which is in administration (and to which no other provision of this Article applies) the relevant date is the date on which the company enters administration.]

(4) In relation to a company in receivership (where Article 50 applies), the relevant date is the date of the appointment of the receiver by debenture‐holders.

(5) F9 For the purposes of Article 232 (meeting to consider individual voluntary arrangements), the relevant date is, in relation to a debtor who is not an undischarged bankrupt

[F13(a)where an interim order has been made under Article 226 with respect to his proposal, the date of that order, and

(b)in any other case, the date on which the voluntary arrangement takes effect.]

(6) F9 In relation to a bankrupt, the following applies—

(a)where at the time the bankruptcy order was made there was an interim receiver appointed under Article 259, the relevant date is the date on which the interim receiver was first appointed after the presentation of the bankruptcy petition;

(b)otherwise, the relevant date is the date of the making of the bankruptcy order.

[F14(7) Nothing in this Article affects the definition of “the relevant date” in Article 5(1A).]

F9mod. by SR 2004/307

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