[F183.—(1) This paragraph applies where a winding-up order is made for the winding up of a company in administration on a petition presented under—N.I.
(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]).
(2) This paragraph also applies where a provisional liquidator of a company in administration is appointed following the presentation of a petition under any of the provisions listed in sub-paragraph (1).
(3) The High Court shall order—
(a)that the appointment of the administrator shall cease to have effect, or
(b)that the appointment of the administrator shall continue to have effect.
(4) If the Court makes an order under sub-paragraph (3)(b) it may also—
(a)specify which of the powers under this Schedule are to be exercisable by the administrator, and
(b)order that this Schedule shall have effect in relation to the administrator with specified modifications.]
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)