Clause 473

by deleting the words “Part VIIIA of the Companies Act (Cap. 50)” in section 28(3)(b) and substituting the words “Part 7 of the Insolvency, Restructuring and Dissolution Act 2018”;

by deleting the words “section 254(2) of the Companies Act (Cap. 50)” in section 29(6) and substituting the words “section 125(2) of the Insolvency, Restructuring and Dissolution Act 2018”;

by deleting paragraph (b) of section 29(7) and substituting the following paragraph:“(b)no judicial manager may be appointed under Part 7 of the Insolvency, Restructuring and Dissolution Act 2018 in relation to an electricity licensee without the consent of the Authority;”;

by deleting the word “and” at the end of section 29(7)(c);

by deleting the full-stop at the end of paragraph (d) of section 29(7) and substituting the word “; and”, and by inserting immediately thereafter the following paragraph:“(e)no application under section 210 of the Companies Act or section 71 of the Insolvency, Restructuring and Dissolution Act 2018 may be made by any person in relation to an electricity licensee, unless that person has served 14 days’ written notice of that person’s intention to make the application on the Authority.”;

by deleting subsection (8) of section 29 and substituting the following subsection:“(8) The Authority must be a party to —

any proceedings under the Insolvency, Restructuring and Dissolution Act 2018 relating to the winding up of the affairs of an electricity licensee; or

any proceedings relating to the making of an order under section 210 of the Companies Act or section 71 of the Insolvency, Restructuring and Dissolution Act 2018 in relation to an electricity licensee.”; and

by inserting, immediately after the words “Companies Act (Cap. 50)” in section 44(2), the words “or the Insolvency, Restructuring and Dissolution Act 2018”.