The Water and Sewerage Services (Northern Ireland) Order 2006

Restrictions on voluntary winding up and insolvency proceedings

Restrictions on voluntary winding up and insolvency proceedings

44.—(1) Where a company holds an appointment under Chapter I—

(a) the company shall not be wound up voluntarily;

(b) no administration order or appointment of an administrator shall be made in relation to the company under Schedule B1 to the Insolvency (Northern Ireland) Order 1989 (NI 19);

(c) no appointment shall be made under Part IV of that Order (receivers and managers) in relation to the company; and

(d) no other step shall be taken by any person to enforce any security over the company’s property except where that person has served 14 days' notice of his intention to take that step on the Department and on the Authority.

(2) In this Article “security” and “property” have the same meanings as in Parts II to VII of the Insolvency (Northern Ireland) Order 1989 (NI 19).