44. Moratorium on Insolvency Proceedings

(1) This Section applies to a Company in administration.
(2) No resolution may be passed for the winding-up of the Company.
(3) No order may be made for the winding-up of the Company.
(4) Subsection (3) does not apply to an order made on a petition presented under Section 203 (Petition for winding-up by the Financial Services Regulator).
(5) If a petition presented under a provision referred to in subsection (4) comes to the attention of the administrator of the Company, he shall apply to the Court for directions under Section 95(7) (General powers).