Part 4

Special administration regime

Restrictions on other insolvency procedures

Voluntary winding up
75
1
A company which is a universal service provider has no power to pass a resolution for voluntary winding up without the permission of the court.
2
Permission may be granted by the court only on an application made by the company.
3
The court is not to grant permission unless—
a
notice of the application has been served on the Secretary of State and OFCOM, and
b
a period of at least 14 days has elapsed since the service of the last of those notices to be served.
4
If an application for a postal administration order in relation to the company is made to the court in accordance with section 70(1) after an application for permission under this section has been made and before it is granted, the court may exercise its powers under section 71 (instead of granting permission).
5
In this section “a resolution for voluntary winding up” has the same meaning as in the 1986 Act.
S. 75 in force at 1.10.2011 by S.I. 2011/2329, art. 3