42.—(1) Article 347 (preferential debts: “the relevant date”) shall be amended as follows.N.I.
(2) In paragraph (2) for sub-paragraphs (a) and (b) substitute—
“(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.”.
(3) In paragraph (3)—
(a)in sub-paragraphs (a), (aa) and (ab) for “the date of the making of the administration order” substitute “ the date on which the company entered administration ”,
(b)after sub-paragraph (b) insert—
“(ba)if the case does not fall within sub-paragraph (a), (aa), (ab) 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;”, and
(c)in sub-paragraph (c) for “sub-paragraph (a), (aa), (ab) or (b)” substitute “ sub-paragraph (a), (aa), (ab), (b) or (ba) ”.
(4) After paragraph (3) insert—
“(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.”.
Commencement Information
I1Sch. 2 (except para. 25) wholly in operation at 27.3.2006, see art. 1(3) and S.R. 2006/21, art. 2 (subject to S.R. 2006/22, arts. 2-7)