[F141.—(1) A petition for the winding up of a company—N.I.
(a)shall be dismissed on the making of an administration order in respect of the company, and
(b)shall be suspended while the company is in administration following an appointment under paragraph 15.
(2) Sub-paragraph (1)(b) does not apply to a petition presented under—
(a)Article 104A (public interest),
(b)Article 104B (SEs), or
(c)section 367 of the Financial Services and Markets Act 2000 (c. 8) (petition by [F2Financial Conduct Authority or the Prudential Regulation Authority]).
(3) Where an administrator becomes aware that a petition was presented under a provision referred to in sub-paragraph (2) before his appointment, he shall apply to the High Court for directions under paragraph 64.]
F1Sch. B1 inserted (27.3.2006) by Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10)), arts. 1(3), 3(2), Sch. 1 (with art. 4); S.R. 2006/21, art. 2 (with S.R. 2006/22, arts. 2-7)
F2Words in Sch. B1 para. 41(2)(c) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 7(d)
Modifications etc. (not altering text)
C1Sch. B1 para. 41 applied (with modifications) (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2009 (c. 1), ss. 119, 134, 263(1) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch.
C2Sch. B1 para. 41(1)(a) applied (with modifications) (4.1.2024) by S.I. 2021/716, reg. 37A (as inserted by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 12)