Clause 480

by deleting the words “Part VIIIA of the Companies Act (Cap. 50)” in section 33(3) 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 34(5) and substituting the words “section 125(2) of the Insolvency, Restructuring and Dissolution Act 2018”;

by deleting paragraph (b) of section 34(6) 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 a gas licensee without the consent of the Authority;”;

by deleting the word “and” at the end of section 34(6)(c);

by deleting the full-stop at the end of paragraph (d) of section 34(6) 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 a gas licensee, unless that person has served 14 days’ written notice of that person’s intention to make the application on the Authority.”; and

by deleting subsection (7) of section 34 and substituting the following subsection:“(7) 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 a gas 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 a gas licensee.”.