SCHEDULES

SCHEDULE 6Insolvency and company law

PART 2Administration of companies

Release of administrator where no distribution to unsecured creditors other than by virtue of section 176A(2)(a)

7(1)Paragraph 98 (vacation of office of administrator: discharge from liability) is amended as follows.

(2)In sub-paragraph (2)(b) (when discharge takes effect in case of administrator appointed under paragraph 14 or 22), after “22” insert “who has not made a statement under paragraph 52(1)(b)”.

(3)In sub-paragraph (2), after paragraph (b) (but before the “or” following it) insert—

“(ba)in the case of an administrator appointed under paragraph 14 or 22 who has made a statement under paragraph 52(1)(b), at a time decided by the relevant creditors,”.

(4)In sub-paragraph (3)—

(a)for the words before paragraph (a) substitute “For the purposes of sub-paragraph (2)(ba), the “relevant creditors” of a company are—”;

(b)in paragraph (b), for “give or withhold approval” substitute “decide on the time of discharge”.