SCHEDULES

SCHEDULE 16The Law Society, solicitors, recognised bodies and foreign lawyers

Part 2The Administration of Justice Act 1985 (c. 61)

I1112

In paragraph 25 of that Schedule (effect of supervening incapacity on contentious business agreements)—

a

for sub-paragraph (1)(b) substitute—

b

a relevant insolvency event occurs in relation to the body;

b

in sub-paragraphs (2) and (3)—

i

for “taxation” (in each place) substitute “ assessment ”, and

ii

for “taxing officer” (in each place) substitute “ costs officer ”,

c

in sub-paragraph (3) for “any officer” substitute “ any manager ”, and

d

after that sub-paragraph insert—

4

For the purposes of this paragraph a relevant insolvency event occurs in relation to a recognised body if—

a

a resolution for a voluntary winding-up of the body is passed without a declaration of solvency under section 89 of the Insolvency Act 1986;

b

the body enters administration within the meaning of paragraph 1(2)(b) of Schedule B1 to that Act;

c

an administrative receiver within the meaning of section 251 of that Act is appointed;

d

a meeting of creditors is held in relation to the body under section 95 of that Act (creditors' meeting which has the effect of converting a members' voluntary winding up into a creditors' voluntary winding up);

e

an order for the winding up of the body is made.