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Section 72E: Fourth exception: project finance

Insolvency Act 1986 · 1986 c. 45View on legislation.gov.uk

Part III: Receivership — CHAPTER IV: PROHIBITION OF APPOINTMENT OF ADMINISTRATIVE RECEIVER

Section 72A does not prevent the appointment of an administrative receiver of a project company of a project which—

is a financed project, and
includes step-in rights.

In this section—

a project is "financed" if under an agreement relating to the project a project company incurs, or when the agreement is entered into is expected to incur, a debt of at least £50 million for the purposes of carrying out the project,
"project company" has the meaning given by paragraph 7 of Schedule 2A, and
"step-in rights" has the meaning given by paragraph 6 of that Schedule.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.