§ Mr. FletcherI beg to move amendment No. 164, in page 162, line 4 leave out
'that is being wound up'and insert'which is being wound up or in relation to which an administration order is in force'.
Mr. Deputy SpeakerWith this, it will be convenient to discuss Government amendments Nos. 165 and 166.
§ Mr. FletcherIn moving these amendments. I am indebted to the hon. Member for Dagenham (Mr. Gould) and my hon. Friend the Member for Tynemouth (Mr. Trotter), who moved similar amendments in respect of voluntary arrangements in Committee. This action confirmed the views that had been expressed to us by representatives of the main accounting bodies that a supervisor of a voluntary arrangement, whether individual or corporate, and an administrator should enjoy similar powers to those enjoyed by a trustee or liquidator in attacking transactions which have reduced the value of assets available for creditors and others. The amendments will achieve that aim, and I commend them to the House.
§ Amendment agreed to.
§ Amendments made: No. 165, in page 162. line 6, after `liquidator', insert 'or administrator'.
§
No. 166, in page 162, line 8, leave out from `transaction' to end of line 13 and insert—
'(b) in a case where a person who is, or is capable of being, prejudiced by the transaction is bound by a composition or scheme approved under Chapter II of Part II or Chapter I of Part III of this Act, by the supervisor of the composition or scheme or by any person who (whether or not so bound) is, or is capable of being, so prejudiced; or
(c)in any other case, by a person who is, or in capable of being, so prejudiced;
and an application made under any of the preceding paragraphs in relation to a transaction shall be treated as made on behalf of every person who is, or is capable of being, prejudiced by the transaction.'.
§ No. 260, in page 163, line 9, leave out 'individual in question' and insert 'relevant person'.
§
No. 167, in page 163, line 30, at end insert—
'"security" means any mortgage, charge, lien or other security.'
§ No. 168, in page 163, line 31, leave out subsection (8).—[Mr. Fletcher.]