Arrangements and reconstructions for companies in financial difficulty Section 8: Administration in Great Britain: revival of power about sales to connected persons
This section revives a power in paragraph 60A of Schedule B1 to the Insolvency Act 1986 to make regulations in relation to sales to connected persons in the context of an administration and which expired in May 2020 by virtue of the sunset provision in sub-paragraph (10) of that paragraph. The revised power will enable the Secretary of State to regulate to prohibit or impose requirements or conditions in relation to the disposal, hiring out or sale of property of a company by the administrator to a person connected with the company in circumstances specified in the regulations, provided the power is used before end of June 2021.