- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
103. Rule 14.24 has effect as if, in paragraph (6), for the definition of “mutual dealings” there were substituted—
““mutual dealings” means mutual credits, mutual debts or other mutual dealings between the company and a creditor proving or claiming to prove for a debt in the special administration, but does not include any of the following—
a debt arising out of an obligation incurred after the company entered special administration;
a debt arising out of an obligation incurred at a time when the creditor had notice that—
a petition was pending for the winding up of the company in respect of which the court granted the special administration order;
an application for a special administration order was pending;
any debt which has been acquired by a creditor by assignment or otherwise, under an agreement between the creditor and another party where that agreement was entered into at a time—
after the company entered special administration;
when the creditor had notice that a petition was pending for the winding up of the company in respect of which the court granted the special administration order;
when the creditor had notice that an application for a special administration order was pending.”.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: