sch.4-sec.125Notice of suspected insolvency otherwise than because of direction or notification

### sch.4-sec.125 Notice of suspected insolvency otherwise than because of direction or notification This section applies if— under section 125 (as it applies to GOCs) the board of a shareholding GOC of a prescribed GOC subsidiary gives written notice to the GOC’s shareholding Ministers and the auditor-general of— the board’s suspicion that the GOC or the subsidiary is, may be, will or may become insolvent; and its reasons for the opinion; and under section 125 (3) (as it applies to GOCs) the shareholding Ministers give the GOC’s board written directions the shareholding Ministers consider necessary or desirable. The GOC must notify the subsidiary of the written directions mentioned in subsection (1) (b) . (omitted) (omitted) (omitted) The subsidiary’s board must ensure that a direction under this section is complied with in relation to the subsidiary . (omitted) (omitted) (omitted) sch 4 pt 2 ch 3 pt 12 s 125 ins 1998 No. 21 s 3 sch 1 amd 2007 No. 10 s 62 sch ; 2009 No. 9 s 128 (sch.4-sec.125-ssec.1) This section applies if— under section 125 (as it applies to GOCs) the board of a shareholding GOC of a prescribed GOC subsidiary gives written notice to the GOC’s shareholding Ministers and the auditor-general of— the board’s suspicion that the GOC or the subsidiary is, may be, will or may become insolvent; and its reasons for the opinion; and under section 125 (3) (as it applies to GOCs) the shareholding Ministers give the GOC’s board written directions the shareholding Ministers consider necessary or desirable. (sch.4-sec.125-ssec.1A) The GOC must notify the subsidiary of the written directions mentioned in subsection (1) (b) . (sch.4-sec.125-ssec.2) (omitted) (sch.4-sec.125-ssec.3) (omitted) (sch.4-sec.125-ssec.4) (omitted) (sch.4-sec.125-ssec.5) The subsidiary’s board must ensure that a direction under this section is complied with in relation to the subsidiary . (sch.4-sec.125-ssec.6) (omitted) (sch.4-sec.125-ssec.7) (omitted) (sch.4-sec.125-ssec.8) (omitted) - (a) under section 125 (as it applies to GOCs) the board of a shareholding GOC of a prescribed GOC subsidiary gives written notice to the GOC’s shareholding Ministers and the auditor-general of— (i) the board’s suspicion that the GOC or the subsidiary is, may be, will or may become insolvent; and (ii) its reasons for the opinion; and - (i) the board’s suspicion that the GOC or the subsidiary is, may be, will or may become insolvent; and - (ii) its reasons for the opinion; and - (b) under section 125 (3) (as it applies to GOCs) the shareholding Ministers give the GOC’s board written directions the shareholding Ministers consider necessary or desirable. - (i) the board’s suspicion that the GOC or the subsidiary is, may be, will or may become insolvent; and - (ii) its reasons for the opinion; and