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The Insolvency (Northern Ireland) Order 2005

Draft. This instrument was laid in draft and may differ from the one made. Look for the made version under its title.

Draft 2005, ISBN 0110490886

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Draft Order in Council laid before Parliament under paragraph 2(1)(a) of the Schedule to the Northern Ireland Act 2000, for approval by resolution of each House of Parliament

NORTHERN IRELAND

Made 2005

Coming into operation in accordance with Article 1(2) and (3)

At the Court at Buckingham Palace, the ** day of ** 2005

Present,

The Queen’s Most Excellent Majesty in Council

Whereas a draft of this Order in Council has been approved by resolution of each House of Parliament:

Now, therefore, Her Majesty, in exercise of the powers conferred by paragraph 1(1) of the Schedule to the Northern Ireland Act 2000 (c. 1) and of all other powers enabling Her in that behalf, is pleased, by and with the advice of Her Privy Council, to order, and it is hereby ordered, as follows:—

Contents

  1. Introductory
  2. 1Title and commencement
  3. 2Interpretation
  4. Companies etc.
  5. 3Replacement of Part III of the 1989 Order
  6. 4Special administration regimes
  7. 5Prohibition on appointment of administrative receiver
  8. 6Abolition of Crown preference
  9. 7Unsecured creditors
  10. 8Liquidator’s powers
  11. 9Application of insolvency law to company incorporated outside Northern Ireland
  12. 10Application of law about company arrangement or administration to non-company
  13. 11Voluntary arrangements: minor amendments
  14. Individuals
  15. 12Duration of, and discharge from, bankruptcy
  16. 13Post-discharge restrictions
  17. 14Investigation by official receiver
  18. 15Income payments order
  19. 16Income payments agreement
  20. 17Bankrupt’s home
  21. 18Bankrupt’s home: civil partnership
  22. 19Powers of trustee in bankruptcy
  23. 20Repeal of certain bankruptcy offences
  24. 21Individual voluntary arrangement
  25. 22Disqualification for office: the Assembly
  26. 23Disqualification for office: district councils
  27. 24Disqualification for office: general
  28. 25Minor and consequential amendments relating to individual insolvency
  29. Money
  30. 26Fees
  31. 27Insolvency Account: interest
  32. 28Insolvency Account: adjustment of balances
  33. Miscellaneous
  34. 29Transitional or transitory provision and savings
  35. 30Power to make consequential amendments etc.
  36. 31Repeals
  37. Signature
  38. Schedule 1SCHEDULE B1 TO THE 1989 ORDER
  39. Schedule 2: ADMINISTRATION: MINOR AND CONSEQUENTIAL AMENDMENTS
  40. General
  41. 1Paragraph 1
  42. The Third Parties (Rights against Insurers) Act (Northern Ireland) 1930 (NI 19)
  43. 2Paragraph 2
  44. 3Paragraph 3
  45. 4Paragraph 4
  46. The Criminal Justice Act (Northern Ireland) 1945 (c. 15)
  47. 5Paragraph 5
  48. The Transport Act (Northern Ireland) 1967 (c. 37)
  49. 6Paragraph 6
  50. 7Paragraph 7
  51. 8Paragraph 8
  52. 9Paragraph 9
  53. The Solicitors (Northern Ireland) Order 1976 (NI 12)
  54. 10Paragraph 10
  55. The Magistrates' Courts (Northern Ireland) Order 1981 (NI 26)
  56. 11Paragraph 11
  57. The Companies (Northern Ireland) Order 1986 (NI 6)
  58. 12Paragraph 12
  59. 13Paragraph 13
  60. 14Paragraph 14
  61. 15Paragraph 15
  62. 16Paragraph 16
  63. 17Paragraph 17
  64. The 1989 Order
  65. 18Paragraph 18
  66. 19Paragraph 19
  67. 20Paragraph 20
  68. 21Paragraph 21
  69. 22Paragraph 22
  70. 23Paragraph 23
  71. 24Paragraph 24
  72. 25Paragraph 25
  73. 26Paragraph 26
  74. 27Paragraph 27
  75. 28Paragraph 28
  76. 29Paragraph 29
  77. 30Paragraph 30
  78. 31Paragraph 31
  79. 32Paragraph 32
  80. 33Paragraph 33
  81. 34Paragraph 34
  82. 35Paragraph 35
  83. 36Paragraph 36
  84. 37Paragraph 37
  85. 38Paragraph 38
  86. 39Paragraph 39
  87. 40Paragraph 40
  88. 41Paragraph 41
  89. 42Paragraph 42
  90. 43Paragraph 43
  91. 44Paragraph 44
  92. 45Paragraph 45
  93. 46Paragraph 46
  94. 47Paragraph 47
  95. The Companies (No. 2) (Northern Ireland) Order 1990 (NI 10)
  96. 48Paragraph 48
  97. 49Paragraph 49
  98. 50Paragraph 50
  99. 51Paragraph 51
  100. 52Paragraph 52
  101. The Pension Schemes (Northern Ireland) Act 1993 (c. 49)
  102. 53Paragraph 53
  103. The Employment Rights (Northern Ireland) Order 1996 (NI 16)
  104. 54Paragraph 54
  105. The Construction Contracts (Northern Ireland) Order 1997 (NI 1)
  106. 55Paragraph 55
  107. The Financial Services and Markets Act 2000 (c. 8)
  108. 56Paragraph 56
  109. 57Paragraph 57
  110. 58Paragraph 58
  111. 59Paragraph 59
  112. 60Paragraph 60
  113. 61Paragraph 61
  114. The Company Directors Disqualification (Northern Ireland) Order 2002 (NI 4)
  115. 62Paragraph 62
  116. 63Paragraph 63
  117. 64Paragraph 64
  118. 65Paragraph 65
  119. Schedule 3SCHEDULE 1A TO THE 1989 ORDER
  120. Schedule 4: DURATION OF BANKRUPTCY: TRANSITIONAL PROVISIONS
  121. Introduction
  122. 1Paragraph 1
  123. 2Paragraph 2
  124. Neither old law nor new law to apply
  125. 3Paragraph 3
  126. General rule for discharge from pre-commencement bankruptcy
  127. 4Paragraph 4
  128. Second-time bankruptcy
  129. 5Paragraph 5
  130. Solicitors
  131. 6Paragraph 6
  132. Income payments order
  133. 7Paragraph 7
  134. Schedule 5SCHEDULE 2A TO THE 1989 ORDER
  135. Schedule 6: EFFECT OF BANKRUPTCY RESTRICTIONS ORDER AND UNDERTAKING
  136. Disqualification for acting as receiver or manager
  137. 1Paragraph 1
  138. Bankruptcy offences after discharge
  139. 2Paragraph 2
  140. 3Paragraph 3
  141. Disqualification for acting as insolvency practitioner
  142. 4Paragraph 4
  143. Prohibition against involvement in company
  144. 5Paragraph 5
  145. Schedule 7: INDIVIDUAL VOLUNTARY ARRANGEMENT
  146. Annulment of bankruptcy on making of voluntary arrangement
  147. 1Paragraph 1
  148. Fast-track for making voluntary arrangement
  149. 2Paragraph 2
  150. Role of official receiver
  151. 3Paragraph 3
  152. Schedule 8: INDIVIDUAL INSOLVENCY: MINOR AND CONSEQUENTIAL AMENDMENTS
  153. 1Paragraph 1
  154. 2Paragraph 2
  155. 3Paragraph 3
  156. 4Paragraph 4
  157. 5Paragraph 5
  158. 6Paragraph 6
  159. 7Paragraph 7
  160. 8Paragraph 8
  161. 9Paragraph 9
  162. 10Paragraph 10
  163. 11Paragraph 11
  164. 12Paragraph 12
  165. 13Paragraph 13
  166. 14Paragraph 14
  167. 15Paragraph 15
  168. 16Paragraph 16
  169. 17Paragraph 17
  170. Schedule 9REPEALS
  171. Explanatory note