Schedule 16, paragraph 42

This paragraph applies to a company in administration. No resolution may be passed for the winding up of the company. No order may be made for the winding up of the company. Sub-paragraph (3) does not apply to an order made on a petition presented under— section 124A (public interest), or section 367 of the Financial Services and Markets Act 2000 (c. 8) (petition by Financial Services Authority). If a petition presented under a provision referred to in sub-paragraph (4) comes to the attention of the administrator, he shall apply to the court for directions under paragraph 63.

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