SCHEDULES
C1SCHEDULE 15 Transfer of relevant activities in connection with PPP administration orders
Application of Schedule
I11
1
This Schedule shall apply in any case where—
a
the court has made a PPP administration order in relation to a PPP company (“the existing appointee”); and
b
it is proposed that, on and after a date appointed by the court, another company (“the new appointee”) should carry on the relevant activities of the existing appointee, in place of the existing appointee.
2
In this Schedule—
“the court”, in the case of any PPP company, means the court having jurisdiction to wind up the company;
“other appointee” means any company, other than the existing appointee or the new appointee, which may be affected by the proposal mentioned in sub-paragraph (1)(b) above;
“the relevant date” means such day, being a day before the discharge of the PPP administration order takes effect, as the court may appoint for the purposes of this Schedule; and
“special PPP administrator”, in relation to a company in relation to which a PPP administration order has been made, means the person for the time being holding office for the purposes of section 220(1) of this Act.
Sch. 15 modified (10.7.2003) by Railways and Transport Safety Act 2003 (c. 20), s. 114(5)(d)