Abolition of Crown preference—transitional provisions4.

(1)

This article applies to a case where before the first commencement date—

(a)

a petition for an administration order pursuant to Part II of the Insolvency Act 1986 is presented;

(b)

a voluntary arrangement under Part I of the Insolvency Act 1986 has effect;

(c)

a receiver is appointed under the terms of a charge (which when created was a floating charge) in relation to the property of a company subject to the charge;

(d)

a petition for a winding-up order is presented;

(e)

a resolution for the winding up of the company is passed;

(f)

a petition for a bankruptcy order (or, in Scotland, for sequestration) is presented; or

(g)

a voluntary arrangement pursuant to Part VIII of the Insolvency Act 1986 has effect.

(2)

This article also applies to a case where proposals for a voluntary arrangement under Part I of the Insolvency Act 1986 are made (whether before or after the first commencement date) by—

(a)

a liquidator in a winding up where the winding-up petition is presented or, as the case may be, the resolution for winding up is passed, before the first commencement date; or

(b)

an administrator appointed in relation to an administration under Part II of the Insolvency Act 1986 where the administration order is made on a petition which is presented before the first commencement date.

(3)

This article also applies to a case in which a proposal for a voluntary arrangement under Part VIII of the Insolvency Act 1986 is made (whether before or after the first commencement date) by a person who was adjudged bankrupt on a petition which was presented before the first commencement date.

(4)

In a case to which this article applies—

(a)

the provisions of section 251; and

(b)

the provisions of section 278(2) and Schedule 26 as respects the repeals relating to paragraphs 1 to 3 and 8 to 8C in Schedule 3 to the Bankruptcy (Scotland) Act 19858, paragraphs 1 to 7 of Schedule 6 to the Insolvency Act 19869, the table in paragraph 32 of Schedule 29 to the Income and Corporation Taxes Act 198810, paragraphs 21A and 22 of Schedule 2 to the Finance Act 199111, paragraph 73 of Schedule 2 to the Social Security (Consequential Provisions) Act 199212, sections 36(1) to (3) of the Finance Act 199313, paragraphs 13(1) and 13(2) of Schedule 6 and paragraph 7(2) of Schedule 7 to the Finance Act 199414, paragraph 8 of Schedule 14 to the Value Added Tax Act 199415, section 17 of the Finance Act 199516, paragraphs 12(1) and 12(2) of Schedule 5 to the Finance Act 199617, sections 166(7)(a), 183(3)(a) and 189(4) of the Employment Rights Act 199618, paragraph 6 of Schedule 2 to the Finance Act 199719, paragraphs 2 and 3 of Schedule 7 to the Finance Act 200020 and paragraphs 17(1) and (2) and 18 of Schedule 5 to the Finance Act 200121,

shall not have effect.