Part I Company Insolvency and Winding Up
Insolvency Act 1986 (1986 c 45) | Legislation

SCHEDULE 11 Transitional Provisions and Savings

Section 437

Part I Company Insolvency and Winding Up

Administration orders

1

(1)     Where any right to appoint an administrative receiver of a company is conferred by any debentures or floating charge created before the appointed day, the conditions precedent to the exercise of that right are deemed to include the presentation of a petition applying for an administration order to be made in relation to the company.

(2)     “Administrative receiver†here has the meaning assigned by section 251.

Receivers and managers (England and Wales)

2

(1)     In relation to any receiver or manager of a company's property who was appointed before the appointed day, the new law does not apply; and the relevant provisions of the former law continue to have effect.

(2)     “The new law†here means Chapter I of Part III, and Part VI, of this Act; and “the former law†means [the Companies Act 1985] and so much of this Act as replaces provisions of that Act (without the amendments in paragraphs 15 to 17 of Schedule 6 to the Insolvency Act 1985, or the associated repeals made by that Act), and any provision of the

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