Clause 483

by inserting, immediately after the words “Companies Act (Cap. 50)” in section 29B(3), the words “or the Insolvency, Restructuring and Dissolution Act 2018”;

by deleting the words “Companies Act” in sections 49FO(15) and (16) and 49FP(1) and substituting in each case the words “Insolvency, Restructuring and Dissolution Act 2018”;

by deleting the words “section 410 of the Companies Act” in section 49FO(17) and substituting the words “section 448 of the Insolvency, Restructuring and Dissolution Act 2018”;

by deleting the words “Part X of the Companies Act (Cap. 50)” in section 49FO(18) and substituting the words “Part 8 of the Insolvency, Restructuring and Dissolution Act 2018”;

by deleting the words “section 327(2) of the Companies Act (which applies bankruptcy rules in the winding up of insolvent companies),” in section 49FO(19) and substituting the words “section 218(2) to (8) of the Insolvency, Restructuring and Dissolution Act 2018”;

by deleting the semi-colon at the end of the definition of “liquidator” in section 49FO(22) and substituting a full‑stop;

by deleting the definition of “unregistered company” in section 49FO(22);

by deleting the words “Division 5 of Part X” in section 49FP(1) and substituting the words “Part 10”;

by deleting subsection (6) of section 49FP and substituting the following subsection:“(6) In the winding up of the affairs of an insurer under such an order, the Insolvency, Restructuring and Dissolution Act 2018 has effect subject to the following modifications:

section 121 (or, as the case may be, section 247) of that Act and other sections so far as they relate to contributories do not apply;

section 129 applies after, as it applies before, the making of the winding up order, and section 133(1) of that Act does not apply; (c)sections 130, 194, 205, 206, 207, 224 to 233 of that Act do not apply.”;

by deleting the words “Division 5 of Part X of the Companies Act (Cap. 50) and may be wound up by the Court under the Companies Act” in section 49FQ(2) and substituting the words “Part 10 of the Insolvency, Restructuring and Dissolution Act 2018 and may be wound up by the Court under the Insolvency, Restructuring and Dissolution Act 2018”;

by deleting paragraphs (a) and (b) of section 49FQ(3) and substituting the following paragraph:“(a)in applying the provisions of the Insolvency, Restructuring and Dissolution Act 2018, any reference to the Registrar of Companies is to be read as a reference to the Registrar under the Co-operative Societies Act;”;

by inserting, immediately after subsection (3) of section 49FQ, the following subsection:“(3A) Despite subsection (2) and section 101 of the Co‑operative Societies Act, in any winding up of a co‑operative society that is a licensed insurer, section 344 of the Companies Act is applicable and in applying this provision —

any reference to the register under the Companies Act is to be read as a reference to the register of societies mentioned in section 10A(1)(a) of the Co‑operative Societies Act; and

any reference to the Registrar under the Companies Act is to be read as a reference to the Registrar under the Co-operative Societies Act.”; and

by deleting the words “section 328(1) of the Companies Act (Cap. 50)” in section 49FR(2) and substituting the words “section 203(1) of the Insolvency, Restructuring and Dissolution Act 2018”.