Legislation – Finance Act 2024

“Companies in insolvency

1218ZCLANo claim if company in administration or liquidation

(1)

A company may not make a claim under section 1218ZCE or section 1218ZCH at a time when it is in administration or liquidation.

(2)

For the purposes of this section, a company is in administration if—

(a)

it is in administration under Part 2 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)

For the purposes of this section, a company is in liquidation if—

(a)

it is in liquidation within the meaning of section 247 of that Act or Article 6 of that Order, or

(b)

a corresponding situation under the law of a country or territory outside the United Kingdom exists in relation to the company.”