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8. The Insolvency Act 1986 is amended as follows.
9. In section 62(6) (cessation of appointment of receiver)—
(a)for “an administration order” substitute “the company is in administration,”, and
(b)omit “is in force”.
10. After section 84(2) (voluntary winding up) insert—
“(2A) Before a company passes a resolution for voluntary winding up it must give written notice of the resolution to the holder of any qualifying floating charge to which section 72A applies.
(2B) Where notice is given under subsection (2A) a resolution for voluntary winding up may be passed only—
(a)after the end of the period of five business days beginning with the day on which the notice was given, or
(b)if the person to whom the notice was given has consented in writing to the passing of the resolution.”.
11. In section 422 (recognised banks etc.) omit subsection (1A) as inserted by Article 16(4) of the Financial Services and Markets Act 2000 (Consequential Amendments) Order 2002(1).
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