(1)Where a company holds an appointment under Chapter I of this Part or is a [F1qualifying water supply licensee or a qualifying sewerage licensee]—
(a)the company shall not be wound up voluntarily;
[F2(b)an administrator may not be appointed in relation to the company, whether by court order or otherwise, under Schedule B1 to the Insolvency Act 1986;
(ba)any step taken by any person for the purported purpose of appointing an administrator of the company under Schedule B1 to the Insolvency Act 1986 has no legal effect;]
(c)no step shall be taken by any person to enforce any security over the company’s property except where that person has served fourteen days’ notice of his intention to take that step on the Secretary of State and on the Director.
(2)In this section “security” and “property” have the same meanings as in Parts I to VII of the M1Insolvency Act 1986.
Textual Amendments
F1Words in s. 26(1) substituted (1.4.2017 except as it relates to qualifying sewerage licensees) by Water Act 2014 (c. 21), s. 94(3), Sch. 7 para. 38; S.I. 2017/462, art. 3(k)(vi)
F2S. 26(1)(b)(ba) substituted for s. 26(1)(b) (15.3.2024) by The Water Industry (Special Administration) Regulations 2024 (S.I. 2024/205), regs. 2(2), 54(2) (with reg. 64)
Modifications etc. (not altering text)
C1S. 26 applied (with modifications) (28.6.2013) by The Water Industry (Specified Infrastructure Projects) (English Undertakers) Regulations 2013 (S.I. 2013/1582), reg. 1(1)(b), Sch. 1 para. 7(6) (with reg. 1(1)(c))
Marginal Citations