Examples of Special Administration Order in a sentence
The enforcement of security over the shares in any company in the Anglian Water Services Financing Group, (other than the Issuer) including those granted by any Holding Company of Anglian Water, would not be subject to the moratorium on the enforcement of security rights imposed upon Secured Creditors under the WIA if a Special Administrator is appointed, nor would the enforcement of those share charges be an event which would itself result in the making of a Special Administration Order.
The Licence may also be transferred from Anglian Water at any time following the making of a Special Administration Order.
The Licence may also be transferred from Anglian Water at any time following the making of a Special Administration Order, but such an order can only be made on very specific statutory grounds.
Save with the express consent of Ofwat, TWUL is not permitted to transfer certain rights or assets (being those which a Special Administrator would require if a Special Administration Order were made in order to operate the Appointed Business) to an associated company.
Failure to comply with certain of its statutory duties or failure to comply with an enforcement order (as well as certain other defaults) may lead to the making of a Special Administration Order (as described below).
Whilst a Special Administration Order is in force, those restrictions imposed during the Special Administration Petition Period continue with some modification: an administrative receiver can no longer be appointed (with or without the leave of the Court) and, in the case of certain actions which require the Court’s leave, the consent of the Special Administrator is acceptable in its place.
The Secretary of State also has powers to impose a penalty under certain circumstances; see Chapter 10.4, “Regulation of the Water and Water Recycling Industry in England and Wales — Enforcement Powers”.Failure to comply with its statutory duties or the Conditions of its Instrument of Appointment and failure to comply with an enforcement order (as well as certain other defaults) may lead to the making of a Special Administration Order (as described below).
Building Societies (Insolvency and Special Administration) Order 2009, SI 2009/805 (“BS Order”) (applying Part 2 of the BA 2009 to building societies).
The ECA provides for the control of production, supply, distribution, and pricing of essential commodities.
In certain specified circumstances, the Court may, on the application of the Secretary of State or, with his consent, Ofwat, make a Special Administration Order in relation to a Regulated Company and appoint a Special Administrator.