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Finance Act 1986

The Finance Act 1986 is amended as follows.

In section 80D (repurchases and stock lending: replacement stock on insolvency), in subsection (9)(f), after “Part 26” insert “or 26A”.

In section 89AB (stamp duty reserve tax: exception for repurchases and stock lending in case of insolvency), in subsection (9)(f), after “Part 26” insert “or 26A”.

Insolvency Act 1986

The Insolvency Act 1986 is amended as follows.

(1)     In Part 4 (winding up of companies registered under the Companies Acts), Chapter 8 (provisions of general application in winding up) is amended as follows.

(2)     In section 176ZB (application of proceeds of office-holder claims), in subsection (4)(b), after “Part 26” insert “or 26A”.

(3)     In section 176A (share of assets for unsecured creditors), in subsection (4)(b), after “Part 26” insert “or 26A”.

(1)     Schedule B1 (administration) is amended as follows.

(2)     In paragraph 49 (administrator's proposals), in sub-paragraph (3)(b), after “Part 26” insert “or 26A”.

(3)     In paragraph 73 (protection for priority creditor), in sub-paragraph (2)(c), after “Part 26” insert “or 26A”.

(4)     In paragraph 74 (challenge to administrator's conduct of company),