s 50 Introduction
(1) Section 51 applies where a petition is presented under section 124 of the Insolvency Act 1986 for the winding up of a commonhold association by the court. (2) For the purposes of this Part— (a) an “ insolvent commonhold association ” is one in relation to which a winding-up petition has been presented under section 124 of the Insolvency Act 1986, (b) a commonhold association is the “ successor commonhold association ” to an insolvent commonhold association if the land specified for the purpose of section 34(1)(a) is the same for both associations, and (c) a “ winding-up order ” is an order under section 125 of the Insolvency Act 1986 for the winding up of a commonhold association.