249Special administration regimes
(1)Section 248 shall have no effect in relation to—
(a)a company holding an appointment under Chapter I of Part II of the Water Industry Act 1991 (c. 56) (water and sewerage undertakers),
(b)a protected railway company within the meaning of section 59 of the Railways Act 1993 (c. 43) (railway administration order) (including that section as it has effect by virtue of section 19 of the Channel Tunnel Rail Link Act 1996 (c. 61) (administration)),
(c)a licence company within the meaning of section 26 of the Transport Act 2000 (c. 38) (air traffic services),
(d)a public-private partnership company within the meaning of section 210 of the Greater London Authority Act 1999 (c. 29) (public-private partnership agreement), or
(e)a building society within the meaning of section 119 of the Building Societies Act 1986 (c. 53) (interpretation).
(2)A reference in an Act listed in subsection (1) to a provision of Part II of the Insolvency Act 1986 (or to a provision which has effect in relation to a provision of that Part of that Act) shall, in so far as it relates to a company or society listed in subsection (1), continue to have effect as if it referred to Part II as it had effect immediately before the coming into force of section 248.
(3)But the effect of subsection (2) in respect of a particular class of company or society may be modified by order of—
(a)the Treasury, in the case of building societies, or
(b)the Secretary of State, in any other case.
(4)An order under subsection (3) may make consequential amendment of an enactment.
(5)An order under subsection (3)—
(a)must be made by statutory instrument, and
(b)may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.
(6)An amendment of the Insolvency Act 1986 (c. 45) made by this Act is without prejudice to any power conferred by Part VII of the Companies Act 1989 (c. 40) (financial markets) to modify the law of insolvency.