Part IV

Transport
Chapter VII

Public-Private Partnership Agreements

Insolvency

Restrictions on voluntary winding-up etc.
223
1
No resolution for voluntary winding up shall be passed by a PPP company without leave of the court granted on an application made for the purpose by the company.
2
No such leave shall be granted unless—
a
notice of the application has been served on the Mayor; and
b
a period of at least fourteen days has elapsed since the service of that notice.
3
Where an application for leave under subsection (1) above has been made by a PPP company, the Mayor may, at any time before leave has been granted under subsection (1) above, make an application to the court for a PPP administration order in relation to that company; and where such an application is made the court may, if it is satisfied as mentioned in section 221(1) above, make a PPP administration order instead of granting leave under subsection (1) above.
4
Where, on an application for leave under subsection (1) above, the court makes, or proposes to make, a PPP administration order by virtue of subsection (3) above, subsections (4) and (5) of section 9 of the Insolvency Act 1986 (powers on application for administration order) shall apply on the hearing of that application as they apply on the hearing of a petition for an administration order.
5
No administration order under Part II of the Insolvency Act 1986 shall be made in relation to a PPP company unless—
a
notice of the application for the order has been served on the Mayor; and
b
a period of at least fourteen days has elapsed since the service of that notice.
6
Where an application for an administration order under Part II of the Insolvency Act 1986 has been made in the case of a PPP company, the Mayor may, at any time before such an order has been made on that application, make an application to the court for a PPP administration order in relation to that company; and where such an application is made the court may, if it is satisfied as mentioned in section 221(1) above, make a PPP administration order instead of an administration order under Part II of the I solvency Act 1986.
7
No step shall be taken by any person to enforce any security over a PPP company’s property, except where that person has served fourteen days’ notice of his intention to take that step on the Mayor.
8
In this section—
- the court has the same meaning as in section 220 above;
- resolution for voluntary winding up has the same meaning as in the Insolvency Act 1986;
- security and property have the same meaning as in the Insolvency Act 1986.
1986 c. 45.
1986 c. 45.
1986 c. 45.
1986 c. 45.
1986 c. 45.
1986 c. 45.
S. 223 in force at 15.7.2003 by S.I. 2003/1920, art. 2(b)