Cross-Border Railways Act 2018 · 2020 Revised Edition · Part 3 · Concessionaire for Railway Infrastructure
20. Restrictions on voluntary winding up, etc.
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Despite the provisions of any other written law, where a concessionaire is a company and financial assistance has been provided under section 17 to the concessionaire for the purpose of constructing, maintaining, operating and improving the railway infrastructure of a cross‑border railway —
concessionaire
“concessionaire” means the person who is a party to the concession agreement, and includes the person for the time being entitled to exercise those rights because of an assignment or transfer of the agreement to that person;
the company must not be wound up voluntarily without the consent of the Minister;
no application for a judicial management order under the Insolvency, Restructuring and Dissolution Act 2018 may be made by any person in relation to the company, unless that person has served on the Minister 14 days’ notice in writing of the person’s intention to make the application;
the company must not appoint an interim judicial manager under section 94(3) of the Insolvency, Restructuring and Dissolution Act 2018, unless the company has served on the Minister 14 days’ notice in writing of the company’s intention to make the appointment;
no application under section 210 of the Companies Act 1967 or section 71 of the Insolvency, Restructuring and Dissolution Act 2018 may be made by any person in relation to the company, unless that person has served on the Minister 14 days’ notice in writing of the person’s intention to make that application; and
no step may be taken by any person to enforce any security over the company’s property unless that person has served on the Minister 14 days’ notice in writing of the person’s intention to take that step.
The Minister must be a party to —
any proceeding under the Insolvency, Restructuring and Dissolution Act 2018 relating to the winding up of the affairs of a company which is a concessionaire;
any proceeding relating to the making of a judicial management order under the Insolvency, Restructuring and Dissolution Act 2018 in relation to a company which is a concessionaire; (c)any meeting convened under section 94(7) of the Insolvency, Restructuring and Dissolution Act 2018 in relation to a company which is a concessionaire; or
any proceeding relating to the making of an order under section 210 of the Companies Act 1967 or section 71 of the Insolvency, Restructuring and Dissolution Act 2018 in relation to a company which is a concessionaire.
A court must, when deciding any proceeding mentioned in subsection (2), take into consideration any representation made by the Minister in that proceeding.