Amendments proposed to the Enterprise Bill, As Amended - continued House of Commons

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Ms Secretary Hewitt

324

*Page     245,     line     36     [Schedule     16],     after 'unless', insert—

            '(a)   '.

   

Ms Secretary Hewitt

325

*Page     245,     line     38     [Schedule     16],     at end insert ', or

            (b)   the holder of any prior floating charge which satisfies paragraph 12(2) has consented in writing to the making of the appointment.'.

   

Ms Secretary Hewitt

326

*Page     253,     line     31     [Schedule     16],     at end insert—

    '(1A) This paragraph also applies from the time when a copy of notice of intention to appoint an administrator under paragraph 12 is filed with the court until—

            (a)   the appointment of the administrator takes effect, or

            (b)   the period of five business days beginning with the date of filing expires without an administrator having been appointed.

    (1B) Sub-paragraph (1A) has effect in relation to a notice of intention to appoint only if it is in the prescribed form.'.

   

Ms Secretary Hewitt

102

Page     254,     line     20     [Schedule     16],     at end insert 'and'.

   

Ms Secretary Hewitt

103

Page     254,     line     21     [Schedule     16],     leave out from 'letter,' to end of line 23.

   

Mr John Whittingdale
Mr Nigel Waterson
Mr Charles Hendry
Mr Andrew Lansley
Mr Jonathan Djanogly
Mr Mark Field

82

Page     256,     line     22     [Schedule     16],     leave out '28 days' and insert 'three months'.

   

Ms Secretary Hewitt

104

Page     261,     line     1     [Schedule     16],     leave out sub-paragraph (2) and insert—

    '(2) If the court gives directions to the administrator of a company in connection with any aspect of his management of the company's affairs, business or property, the administrator shall comply with the directions.'.

   

Ms Secretary Hewitt

327

*Page     261,     line     34     [Schedule     16],     leave out 'charge' and insert 'security'.

   

Ms Secretary Hewitt

105

Page     263,     line     26     [Schedule     16],     leave out 'section 4' and insert 'Part I'.

   

Ms Secretary Hewitt

106

Page     264,     line     36     [Schedule     16],     leave out paragraph (b) and insert—

            '(b)   if the company has unsecured debts, creditors whose debts amount to more than 50% of the company's unsecured debts, disregarding debts of any creditor who does not respond to an invitation to give or withhold consent.'.

   

Ms Secretary Hewitt

107

Page     264,     line     42     [Schedule     16],     after first 'of', insert—

            '(i) '.

   

Ms Secretary Hewitt

108

Page     264,     line     43     [Schedule     16],     leave out 'and of' and insert ', and

            (ii) '.

   

Ms Secretary Hewitt

109

Page     264,     line     43     [Schedule     16],     leave out 'at least' and insert 'more than'.

   

Ms Secretary Hewitt

110

Page     264,     line     44     [Schedule     16],     leave out 'total'.

   

Ms Secretary Hewitt

111

Page     264,     line     44     [Schedule     16],     at end insert ', disregarding debts of any creditor who does not respond to an invitation to give or withhold consent.'.

   

Ms Secretary Hewitt

112

Page     267,     line     6     [Schedule     16],     leave out paragraph (a) and insert—

            '(a)   that the total amount which each secured creditor of the company is likely to receive has been paid to him or set aside for him,'.

   

Ms Secretary Hewitt

113

Page     267,     line     9     [Schedule     16],     leave out 'has been or'.

   

Ms Secretary Hewitt

114

Page     267,     line     28     [Schedule     16],     leave out '98' and insert '84'.

   

Ms Secretary Hewitt

115

Page     269,     line     35     [Schedule     16],     after 'where', insert—

            '(a)   '.

   

Ms Secretary Hewitt

116

Page     269,     line     35     [Schedule     16],     at end insert—

            '(b)   the court is satisfied that the creditors' committee or a remaining administrator is not taking reasonable steps to make a replacement, or

            (c)   the court is satisfied that for another reason it is right for the application to be made.'.

   

Ms Secretary Hewitt

117

Page     269,     line     36     [Schedule     16],     leave out 'by the holder of a qualifying floating charge he' and insert 'the holder of the floating charge by virtue of which the appointment was made'.

   

Ms Secretary Hewitt

118

Page     271,     line     4     [Schedule     16],     leave out paragraphs (a) and (b) and insert—

            '(a)   in the case of an administrator who dies, on the filing with the court of notice of his death,

            (b)   in the case of an administrator appointed under paragraph 12 or 20, at a time appointed by resolution of the creditors' committee or, if there is no committee, by resolution of the creditors, or

            (c)   in any case, at a time specified by the court.

    () For the purpose of the application of sub-paragraph (2)(b) in a case where the administrator has made a statement under paragraph 50(1)(b), a resolution shall be taken as passed if (and only if) passed with the approval of—

            (a)   each secured creditor of the company, or

            (b)   if the administrator has made a distribution to preferential creditors or thinks that a distribution may be made to preferential creditors—

            (i) each secured creditor of the company, and

            (ii) preferential creditors whose debts amount to more than 50% of the preferential debts of the company, disregarding debts of any creditor who does not respond to an invitation to give or withhold approval.'.

   

Ms Secretary Hewitt

119

Page     272,     line     43     [Schedule     16],     at end insert—

    '101A (1) Where a company is in administration, a person may be appointed to act as administrator jointly or concurrently with the person or persons acting as the administrator of the company.

    (2) Where a company entered administration by administration order, an appointment under sub-paragraph (1) must be made by the court on the application of—

            (a)   a person or group listed in paragraph 10(1)(a) to (e), or

            (b)   the person or persons acting as the administrator of the company.

    (3) Where a company entered administration by virtue of an appointment under paragraph 12, an appointment under sub-paragraph (1) must be made by—

            (a)   the holder of the floating charge by virtue of which the appointment was made, or

            (b)   the court on the application of the person or persons acting as the administrator of the company.

    (4) Where a company entered administration by virtue of an appointment under paragraph 20(1), an appointment under sub-paragraph (1) above must be made either by the court on the application of the person or persons acting as the administrator of the company or—

            (a)   by the company, and

            (b)   with the consent of each person who is the holder of a qualifying floating charge in respect of the company's property or, where consent is withheld, with the permission of the court.

    (5) Where a company entered administration by virtue of an appointment under paragraph 20(2), an appointment under sub-paragraph (1) must be made either by the court on the application of the person or persons acting as the administrator of the company or—

            (a)   by the directors of the company, and

            (b)   with the consent of each person who is the holder of a qualifying floating charge in respect of the company's property or, where consent is withheld, with the permission of the court.

    (6) An appointment under sub-paragraph (1) may be made only with the consent of the person or persons acting as the administrator of the company.'.

   

Ms Secretary Hewitt

120

Page     274,     line     3     [Schedule     16],     leave out paragraph (b) and insert—

            '(b)   if the company has unsecured debts, creditors whose debts amount to more than 50% of the company's unsecured debts, disregarding debts of any creditor who does not respond to an invitation to give or withhold consent.'.

   

Ms Secretary Hewitt

121

Page     274,     line     9     [Schedule     16],     after first 'of', insert—

            '(i) '.

   

Ms Secretary Hewitt

123

Page     274,     line     10     [Schedule     16],     leave out 'at least' and insert 'more than'.

   

Ms Secretary Hewitt

122

Page     274,     line     10     [Schedule     16],     leave out 'and of' and insert ', and

            (ii) '.

   

Ms Secretary Hewitt

124

Page     274,     line     11     [Schedule     16],     at end insert ', disregarding debts of any creditor who does not respond to an invitation to give or withhold consent.'.

   

Ms Secretary Hewitt

328

*Page     274,     line     37     [Schedule     16],     at end insert—

     '"company" includes a company which may enter administration by virtue of Article 3 of the EC Regulation,"'.

 
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Prepared 11 Jun 2002