247 “Insolvency” and “go into liquidation”
247 “Insolvency” and “go into liquidation”

Part VII Interpretation for First Group of Parts

247  “Insolvency” and “go into liquidation”

(1)     In this Group of Parts, except in so far as the context otherwise requires, “insolvency”, in relation to a company, includes [the coming into force of a moratorium for the company under Part A1,] the approval of a voluntary arrangement under Part I, [or the appointment of an administrator or administrative receiver].

(2)     For the purposes of any provision in this Group of Parts, a company goes into liquidation if it passes a resolution for voluntary winding up or an order for its winding

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