Greater London Authority Act 1999 Explanatory Notes

Sections 220 to 224: Insolvency

347.Sections 220 to 224 and Schedules 14 and 15 provide for a special PPP administration order regime.  Such an order may be made by the High Court in relation to a PPP company which is on the point of insolvency or winding-up.  It may direct a person appointed by the court to take over the running of the PPP company with a view to achieving the purposes of the PPP administration order in a manner which also protects the respective interests of the members and creditors of the PPP company.  The purpose of the PPP administration order regime is to ensure that the duty of the administrator principally to protect the interests of members and creditors of a company is balanced against ensuring that activities under the PPP agreement are carried on, thus securing continuity of services for passengers.

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