Section 269ZH — Corporation Tax Act 2010: “Insolvency procedures”

“Insolvency procedures” 269ZH 1 For the purposes of section 269ZG a company is subject to insolvency procedures if—

a it is in liquidation, b it is in administration, c it is in receivership, or d a relevant scheme has effect in relation to it.

2 A company is “ in liquidation ” for the purposes of this section if—

a it is in liquidation within the meaning of section 247 of the Insolvency Act 1986 or Part 3 of the Insolvency (Northern Ireland) Order 1989 ( S.I. 1989/2405 (N.I. 19), or b a corresponding situation under the law of a country or territory outside the United Kingdom exists in relation to the company.

3 A company is “ in administration ” for the purposes of this section if—

a it is in administration within the meaning of Schedule B1 to the Insolvency Act 1986 or Schedule B1 to the Insolvency (Northern Ireland) Order 1989, or b there is in force in relation to it under the law of a country or territory outside the United Kingdom any appointment corresponding to the appointment of an administrator under either of those Schedules.

4 A company is “ in receivership ” for the purposes of this section if there is in force in relation to it—

a an order for the appointment of an administrative receiver, a receiver and manager or a receiver under Chapter 1 or 2 of Part 3 of the Insolvency Act 1986 or Part 4 of the Insolvency (Northern Ireland Order) 1989, or b any corresponding order under the law of a country or territory outside the United Kingdom.

5 In this section “ relevant scheme ” means a compromise or arrangement—

a under section 425 of the Companies Act 1985, Article 418 of the Companies (Northern Ireland) Order 1986 ( S.I. 1986/1032 (N.I. 6)) or Part 26 or 26A of the Companies Act 2006, or b under any corresponding provision of the law of a country or territory outside the United Kingdom.