50 IntroductionE+W
This section has no associated Explanatory Notes
(1)Section 51 applies where a petition is presented under section 124 of the Insolvency Act 1986 for the winding up of a commonhold association by the court.
(2)For the purposes of this Part—
(a)an “insolvent commonhold association” is one in relation to which a winding-up petition has been presented under section 124 of the Insolvency Act 1986,
(b)a commonhold association is the “successor commonhold association” to an insolvent commonhold association if the land specified for the purpose of section 34(1)(a) is the same for both associations, and
(c)a “winding-up order” is an order under section 125 of the Insolvency Act 1986 for the winding up of a commonhold association.