40.—(1) Article 207 (avoidance of floating charge) shall be amended as follows.
(2) The word “or” after paragraph (3)(b) shall cease to have effect.
(3) For paragraph (3)(c) substitute—
“(c)in either case, at a time between the making of an administration application in respect of the company and the making of an administration order on that application, or
(d)in either case, at a time between the filing with the High Court of a copy of notice of intention to appoint an administrator under paragraph 15 or 23 of Schedule B1 and the making of an appointment under that paragraph.”.
(4) For paragraph (5)(a) and (b) substitute—
“(a)in a case where this Article applies by reason of an administrator of a company being appointed by administration order, the date on which the administration application is made,
(b)in a case where this Article applies by reason of an administrator of a company being appointed under paragraph 15 or 23 of Schedule B1 following filing with the High Court of a copy of notice of intention to appoint under that paragraph, the date on which the copy of the notice is filed,
(c)in a case where this Article applies by reason of an administrator of a company being appointed otherwise than as mentioned in sub-paragraph (a) or (b), the date on which the appointment takes effect, and
(d)in a case where this Article applies by reason of a company going into liquidation, the date of the commencement of the winding up.”.