Schedule B1, paragraph 82

This paragraph applies where a winding-up order is made for the winding up of a company in administration on a petition presented under— section 124A (public interest), or section 124B (SEs), section 367 of the Financial Services and Markets Act 2000 (c. 8) (petition by Financial Conduct Authority or Prudential Regulation Authority). This paragraph also applies where a provisional liquidator of a company in administration is appointed following the presentation of a petition under any of the provisions listed in sub-paragraph (1). The court shall order— that the appointment of the administrator shall cease to have effect, or that the appointment of the administrator shall continue to have effect. If the court makes an order under sub-paragraph (3)(b) it may also— specify which of the powers under this Schedule are to be exercisable by the administrator, and order that this Schedule shall have effect in relation to the administrator with specified modifications.

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Source: legislation.gov.uk · retrieved 2026-09-04