The Water Industry (Special Administration) Regulations 2024

4Interpretation

PART 2Application of the Insolvency Act 1986 to special administration

5Application, disapplication and modification

PART 3General modifications

6General modifications to provisions about administration

PART 4The Insolvency Act 1986 – specific modifications

CHAPTER 1Schedule B1 – specific modifications

8Special administrator

9Status of special administrator

10Powers of the court

11Dismissal of pending winding-up application

12Moratorium on insolvency proceedings

13Moratorium on other legal process

14Interim moratorium

15Announcement of special administrator’s appointment

16Statement of company’s affairs

17Special administrator’s proposals

18Revision of special administrator’s proposals

19Special administrator’s power to manage

20Special administrator’s general powers and dealings with protected land

21Special administrator’s general duties

22Charged property: non-floating charge

23Hire-purchase property

24Protection for priority creditor

25Challenge to special administrator’s conduct of company

26Court order ending special administration

27Moving from special administration to creditors’ voluntary liquidation

28Moving from special administration to dissolution

29Resignation of special administrator

30Special administrator ceasing to be qualified

31Supplying vacancy in office of special administrator

32Application to replace special administrator

33Replacement of special administrator

34Vacation of office: discharge from liability

35Vacation of office: charges and liabilities

36References to joint special administrators

37Appointment of joint and concurrent special administrators

39Extension of time limits

40Interpretation

CHAPTER 2Insolvency Act 1986 (except Schedule B1) – specific modifications

42Moratorium coming to an end

43Approval of voluntary arrangements

44Effect of approval of voluntary arrangements

45Challenge of decisions

46Floating charge holder not to appoint administrative receiver

47Avoidance of certain floating charges

48Expressions used generally

49Power to make rules

50Insolvency rules committee

51Co-operation between courts exercising jurisdiction in relation to insolvency

52Powers of special administrator

53Punishment of offences

PART 5The Water Industry Act 1991 – amendment

54Restrictions on voluntary winding up and insolvency proceedings

PART 6Companies Act 2006 – specific modifications

55Application of this Part

56Modifications to Parts 26 and 26A of the Companies Act 2006

57Interpretation of Parts 26 and 26A

58Court order for holding meeting of creditors or members

59Court sanction for compromise or arrangement

60Powers of court to facilitate reconstruction or amalgamation

61Court order for holding of meeting

62Court sanction for compromise or arrangement

63Powers of court to facilitate reconstruction or amalgamation

PART 7Miscellaneous

64Transitional provision

65Consequential provision

Draft Regulations laid before Parliament under section 23(2G)(b) and (3D)(b) of the Water Industry Act 1991, for approval by resolution of each House of Parliament.

2024 No.

Insolvency, England And Wales

Water Industry, England And Wales

Companies, England And Wales

The Water Industry (Special Administration) Regulations 2024

Made

Coming into force in accordance with regulation 2

The Secretary of State makes these Regulations in exercise of the powers conferred by sections 23(2E) and (3A) and 213(2)(e) and (f) of the Water Industry Act 19911 (“the 1991 Act”).

In accordance with section 23(2G)(a) and (3D)(a) of the 1991 Act, the Welsh Ministers have consented to the making of these Regulations.

In accordance with section 23(2G)(b) and (3D)(b) of the 1991 Act, a draft of this instrument has been laid before and approved by resolution of each House of Parliament.