F1Sch. ZA1 inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 5 (with ss. 2(2), 5(2), 13)
Modifications etc. (not altering text)
C1Sch. ZA1 modified (temp.) (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 8 para. 6(1)(c) (with ss. 2(2), 5(2), Sch. 8 para. 1)
C2Sch. ZA1 modified (temp.) (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 8 para. 7(b) (with ss. 2(2), 5(2), Sch. 8 para. 1)
15—(1) A company is excluded from being eligible if, on the filing date, it is a project company of a project which—N.I.
(a)is a public-private partnership project (see paragraph 16), and
(b)includes step-in rights (see paragraph 17).
(2) For the purposes of this paragraph a company is a “project company” of a project if any of the following applies—
(a)it holds property for the purpose of the project;
(b)it has sole or principal responsibility under an agreement for carrying out all or part of the project;
(c)it is one of a number of companies which together carry out the project;
(d)it has the purpose of supplying finance to enable the project to be carried out;
(e)it is the holding company of a company within any of paragraphs (a) to (d).
(3) But a company is not a “project company” of a project if—
(a)it performs a function within sub-paragraph (2)(a) to (d) or is within sub-paragraph (2)(e), but
(b)it also performs a function which is not—
(i)within sub-paragraph (2)(a) to (d),
(ii)related to a function within sub-paragraph (2)(a) to (d), or
(iii)related to the project.
(4) For the purposes of this paragraph a company carries out all or part of a project whether or not it acts wholly or partly through agents.]
Modifications etc. (not altering text)