(1)In the PPP administration order provisions of this Act—
“company” means—
any company formed and registered under the [1985 c. 6.] Companies Act 1985 or any existing company within the meaning given in section 735(1) of that Act; and
any unregistered company; and
“unregistered company” has the meaning given in Part V of the 1986 Act.
(2)In the application of section 220(1) above in a case where the PPP company there mentioned is a foreign company, the reference to the affairs, business and property of the company shall be taken as a reference to the affairs and business of the company, so far as carried on in Great Britain, and the property of the company within Great Britain.
(3)In the application of section 9(5) of the 1986 Act by virtue of subsection (4) of section 221 above or subsection (3) of section 222 above where the petition mentioned in the subsection in question relates to a company which is a foreign company, the reference to restricting the exercise of any powers of the directors or of the company shall be taken as a reference to restricting—
(a)the exercise within Great Britain of the powers of the directors or of the company; or
(b)any exercise of those powers so far as relating to the affairs, business or property of the company in Great Britain.
(4)In the application of provisions in section 10 of the 1986 Act by virtue of subsection (5) of section 221 above where the company mentioned in that subsection is a foreign company—
(a)paragraph (a) of subsection (1) shall be omitted;
(b)any reference in paragraph (b) or (c) of that subsection to property or goods shall be taken as a reference to property or (as the case may be) goods for the time being situated within Great Britain;
(c)in paragraph (c) of that subsection—
(i)the reference to the commencement or continuation of proceedings shall be taken as a reference to the commencement or continuation of proceedings in Great Britain; and
(ii)the reference to the levying of distress against the company shall be taken as a reference to the levying of distress against the foreign company to the extent of its property in England and Wales; and
(d)any reference in subsection (2) to an administrative receiver shall be taken to include a reference to any person performing, in relation to the foreign company, functions equivalent to those of an administrative receiver, within the meaning of section 251 of the 1986 Act.
(5)Subsections (1) to (4) of section 223 above shall not have effect in relation to a PPP company which is a foreign company.
(6)In the application of subsection (7) of that section where the PPP company there mentioned is a foreign company, the reference to the company’s property shall be taken as a reference to such of its property as is for the time being situated in Great Britain.
(7)In this section—
“the 1986 Act” means the [1986 c. 45.] Insolvency Act 1986;
“foreign company” means a company incorporated outside Great Britain;
“the PPP administration order provisions of this Act” means sections 220 to 223 above, this section and Schedules 14 and 15 to this Act.