The Insolvent Partnerships Order 1994

Section 15: Power to deal with charged property, etc.

10.  Schedule 1 is modified so as to read as follows:—

Section 14

“SCHEDULE 1 POWERS OF ADMINISTRATOR

1.   Power to take possession of, collect and get in the partnership property and, for that purpose, to take such proceedings as may seem to him expedient.

2.   Power to sell or otherwise dispose of the partnership property by public auction or private auction or private contract or, in Scotland, to sell, feu, hire out or otherwise dispose of the partnership property by public roup or private bargain.

3.   Power to raise or borrow money and grant security therefor over the partnership property.

4.   Power to appoint a solicitor or accountant or other professionally qualified person to assist him in the performance of his functions.

5.   Power to bring or defend any action or other legal proceedings in the name and on behalf of any member of the partnership in his capacity as such or of the partnership.

6.   Power to refer to arbitration any question affecting the partnership.

7.   Power to effect and maintain insurances in respect of the partnership business and property.

8.   Power to do all acts and execute, in the name and on behalf of the partnership or of any member of the partnership in his capacity as such, any deed, receipt or other document.

9.   Power to draw, accept, make and endorse any bill of exchange or promissory note in the name and on behalf of any member of the partnership in his capacity as such or of the partnership.

10.   Power to appoint any agent to do any business which he is unable to do himself or which can more conveniently be done by an agent and power to employ and dismiss employees.

11.   Power to do all such things (including the carrying out of works) as may be necessary for the realisation of the partnership property.

12.   Power to make any payment which is necessary or incidental to the performance of his functions.

13.   Power to carry on the business of the partnership.

14.   Power to establish subsidiary undertakings of the partnership.

15.   Power to transfer to subsidiary undertakings of the partnership the whole or any part of the business of the partnership or of the partnership property.

16.   Power to grant or accept a surrender of a lease or tenancy of any of the partnership property, and to take a lease or tenancy of any property required or convenient for the business of the partnership.

17.   Power to make any arrangement or compromise on behalf of the partnership or of its members in their capacity as such.

18.   Power to rank and claim in the bankruptcy, insolvency, sequestration or liquidation of any person indebted to the partnership and to receive dividends, and to accede to trust deeds for the creditors of any such person.

19.   Power to present or defend a petition for the winding up of the partnership under the Insolvent Partnerships Order 1994.

20.   Power to do all other things incidental to the exercise of the foregoing powers.”.