Part 4 U.K.Special administration regime

Restrictions on other insolvency proceduresU.K.

74Winding-up ordersU.K.

(1)This section applies if a person other than the Secretary of State petitions for the winding-up of a company which is a universal service provider.

(2)The court is not to exercise its powers on a winding-up petition unless—

(a)notice of the petition 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.

(3)If an application for a postal administration order in relation to the company is made to the court in accordance with section 70(1) before a winding-up order is made on the petition, the court may exercise its powers under section 71 (instead of exercising its powers on the petition).

(4)References in this section to the court's powers on a winding-up petition are to—

(a)its powers under section 125 of the 1986 Act (other than its power of adjournment), and

(b)its powers under section 135 of the 1986 Act.