OpenLegislation

Insolvency Act 1986

1986 c. 45 · Enacted 25 July 1986 · Extends to United Kingdom

Not fully up to date. 6 changes made by later legislation have not yet been written into this text, which is revised to 1 October 2026.

See the changes not yet applied
ProvisionChangeMade by
s. 264(1)(d) and wordrepealedCriminal Justice Act 1988 Sch. 16
s. 282repealedCriminal Justice Act 1988 Sch. 16
s. 297(1)repealedCriminal Justice Act 1988 Sch. 16
Sch. 10entries repealedCompanies Act 1989 Sch. 24
Sch. 6 para. 13(2)(za)insertedEmployment Rights Act 2025 Sch. 2 para. 1
Actsavings and transitional provisions for amendments by S.I. 2022/1166Renting Homes (Wales) Act 2016 (Saving and Transitional Provisions) 2022 Regulations

I1C1C2C3C4C5C6C7C8C9C10C11C12C13C14C15C16C17C18C19C20C21C22C23C24C25An Act to consolidate the enactments relating to company insolvency and winding up (including the winding up of companies that are not insolvent, and of unregistered companies); enactments relating to the insolvency and bankruptcy of individuals; and other enactments bearing on those two subject matters, including the functions and qualification of insolvency practitioners, the public administration of insolvency, the penalisation and redress of malpractice and wrongdoing, and the avoidance of certain transactions at an undervalue

[25th July 1986]

Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—C26C27C28C29C30C31C32C33C34C35C36C37C38C39C40C41C42C43C44C45C46C47C48C49C50C51C52

Annotations to the whole text

Modifications

C1

Act amended by Social Security Pensions Act 1975 (c. 60), s. 59D(3) (as inserted by Social Security Act 1990 (c. 27), s. 12(1), Sch. 3)

Act amended (25.4.1991) by Companies Act 1989 (c. 40), ss. 154, 155, 158(1), 174(1), 190(6); S.I. 1991/878, art. 2, Sch. (with art. 3(4))

Act amended (29.6.1992) by Social Security Pensions Act 1975 (c. 60), s. 58B(5) (as inserted (29.6.1992) by Social Security Act 1990 (c. 27), s. 14, Sch. 4 Pt. I para. 2; S.I. 1992/1532, art. 2)

Act amended (1.4.1994) by 1993 c. 43, ss. 59(3), 150(1)(c), Sch. 6 Pt. III para. 20(1)-(3); S.I. 1994/571, art. 5 (with transitional provision in art. 7)

Act (except ss. 8-10, 24-26) amended (1.2.2001) by 2000 c. 38, s. 30, Sch. 1 Pt. II para. 13(1)(3) (with ss. 105(2)(5), 106); S.I. 2001/57, art. 3(1), Sch. 2 Pt. I (subject to transitional provision and saving in Sch. 2 Pt. II)

Act amended (1.2.2001) by 2000 c. 38, s. 30, Sch. 1 Pt. II para. 13(2)(3) (with ss. 105(2)(5), 106); S.I. 2001/57, art. 3(1), Sch. 2 Pt. I (subject to transitional provision and saving in Sch. 2 Pt. II)

Act amended (30.12.2002) by 2002 c. 29, s. 311(4); S.I. 2002/3015, art. 2(1), Sch.

C2

Act restricted (E.W.S.) by Drug Trafficking Offences Act 1986 (c. 32), s. 15(3)(7)

Act restricted (25.4.1991) by Companies Act 1989 (c. 40), s. 182(4), Sch. 22 para. 4(2); S.I. 1991/878, art. 2, Sch.

Act restricted (3.2.1995) by 1994 c. 37, ss. 32(4), 69(2), Sch. 2 para. 5 (with s. 66(2))

Act restricted (31.3.1996) by 1995 c. 20, s. 110(1), Sch. 4 para. 2(4); S.I. 1996/517, art. 3(2) (subject to arts. 4-6, Sch. 2)

Act restricted (1.4.1996) by 1995 c. 43, ss. 44, 50(2), Sch. 2 para. 2(4)

Act restricted (6.4.1996 for certain purposes and 6.4.1997 otherwise) by 1995 c. 26, s. 75(8)(a) (with s. 121(5)); S.I. 1996/778, art. 2(5)(a), Sch. Pt. V; S.I. 1997/664, art. 2(3), Sch. Pt. II (with transitional adaptations, modifications and savings in arts. 3-14)

Act restricted (7.10.1996) by 1992 c. 5, ss. 71(10A), 78(3A) (as inserted by 1995 c. 18, s. 32; S.I. 1996/2208, art. 2)

Act restricted (S.) (1.11.2001) by 2001 asp 10, s. 63, Sch. 7 paras. 9(4), 10(6); S.S.I. 2001/336, art. 2(3), Sch. Pt. II (subject to transitional provisions and savings in art. 3)

Act restricted (24.3.2003) by 2002 c. 29, ss. 417(4), 458(1)(3); S.I. 2003/333, art. 2, Sch. (subject to transitional provisions and savings in arts. 3-13 (as amended by S.I. 2003/531, arts. 3, 4))

C3

Act excluded (E.W.S.) by Drug Trafficking Offences Act 1986 (c. 32), ss. 15(5)( a )(7), 17(3)

Act excluded by Criminal Justice (Scotland) Act 1987 (c. 41), ss. 30(6), 34(3)(4), 35(3), 36(3), 47(4)(a)

Act excluded (E.W.) by Dartford-Thurrock Crossing Act 1988 (c. 20), ss. 15(4), 19

Act excluded by Criminal Justice Act 1988 (c. 33), ss. 84(3), 86(3), 123, Sch. 8 para. 16

Act excluded by Social Security Act 1989 (c. 24), s. 22, Sch. 4 Pt. II para. 8(1)

Act excluded (25.4.1991) by Companies Act 1989 (c. 40), ss. 154, 155, 159(2), 180(2); S.I. 1991/878, art. 2, Sch.

Act excluded (13.2.1992) by Severn Bridges Act 1992 (c. 3), s. 20(4)

Act excluded (1.7.1992) by Social Security Administration Act 1992 (c. 5), ss. 89(1), 93(1), 192(4) (with s. 89(1))

Act excluded (31.10.1994) by 1994 c. 21, s. 29(2) (with s. 40(7)); S.I. 1994/2552, art. 2, Sch. 1

Act excluded (3.2.1995) by 1994 c. 37, ss. 32(2), 34(2), 69(2), Sch. 2 para. 5 (with s. 66(2))

Act excluded (31.3.1996) by 1995 c. 20, s. 110(1), Sch. 4 paras. 2(3), 3(3), 4(3); S.I. 1996/517, art. 3(2) (subject to arts. 4-6, Sch. 2)

Act excluded (1.4.1996) by 1995 c. 43, ss. 44, 50(2), Sch. 2 paras. 2(3), 3(3), 4(3)

Act excluded (1.10.1996) by 1996 c. 52, s. 7, Sch. 1 Pt. II para. 15(2); S.I. 1996/2402, art. 3 (subject to transitional provisions and savings in Sch.)

Act excluded (E.W.S.) (11.12.1999) by S.I. 1999/2979, reg. 14(2)

Act excluded (E.W.) (1.9.2001) by 2001 c. 17, s. 38, Sch. 6 paras. 9(3), 11(3) (with s. 78); S.I. 2001/2161, art. 2

Act excluded (S.) (1.11.2001) by 2001 asp 10, s. 63, Sch. 7 para. 12(3); S.S.I. 2001/336, art. 2(3), Sch. Pt. II (subject to transitional provisions and savings in art. 3)

Act excluded (S.) (17.12.2001) by 2001 asp 13, s. 20(b), Sch. 6 paras. 9(3), 10(5); S.S.I. 2001/456, art. 2

Act excluded (24.3.2003) by 2002 c. 29, ss. 418(4), 426(7), 430(7), 458(1)(3); S.I. 2003/333, art. 2, Sch. (subject to transitional provisions and savings in arts. 3-13 (as amended by S.I. 2003/531, arts. 3, 4))

C4

Act modified by Financial Services Act 1986 (c. 60), s. 72(4)

Act modified by S.I. 1986/2142, arts. 1(2), 3(a), 15

Act modified by S.I. 1989/638, regs. 8(1), 21

Act modified (7.2.1994) by 1993 c. 48, ss. 144(7)(a), 147(3) (with s. 6(8)); S.I. 1994/86, art. 2

Act modified (31.10.1994) by 1994 c. 21, s. 36(1) (with s. 40(7)); S.I. 1994/2553, art. 2

Act modified (S.) (1.11.2001) by 2001 asp 10, s. 63, Sch. 7 para. 11; S.S.I. 2001/336, art. 2(3), Sch. Pt. II (subject to transitional provisions and savings in art. 3)

Act modified (E.W.S.) (5.10.2004) by Energy Act 2004 (c. 20), ss. 159, 198, Sch. 20 paras. 41, 42; S.I. 2004/2575, art. 2(1), Sch. 1

Act modified (E.W.) (1.10.2005) by The Energy Administration Rules 2005 (S.I. 2005/2483), rules 3, 184

Act modified (S.) (6.4.2006) by The Energy Administration (Scotland) Rules 2006 (S.I. 2006/772), rules 3, 68

C5

Act applied (with modifications) by S.I. 1986/2142, arts. 1(2), 8(1)(b)(2), 13(3)(4)(6), 15, Sch. 2

Act applied (with modifications) (6.1.1997) by S.I. 1996/2827, reg. 25(1)-(4)

Act applied (with modifications) (1.12.2001) by S.I. 2001/1228, regs. 1(2), 31(1) (with reg. 1(3)); S.I. 2001/3538, art. 2(1)

Act applied (1.12.2001) by 2000 c. 8, s. 367(7); S.I. 2001/3538, art. 2(1)

C6

Act extended by Banking Act 1987 (c. 22), s. 92(2)

Act extended (E.W.) by Water Act 1989 (c. 15), s. 23, Sch. 6 Pt. II para. 11(1)(2)(3) (with ss. 58(7), 101(1), 141(6), 160(1)(2)(4), 163, 189(4)?(10), 190, 193(1), Sch. 26 paras. 3(1)(2), 17, 40(4), 57(6), 58)

Act extended (E.W.) (1.12.1991) by Water Industry Act 1991 (c. 56), ss. 23(3), 223(2), Sch. 3 Pt. II paras.11(1)-(3), 12(2) ( with ss. 82(3), 186(1), 222(1), Sch. 14 para. 6).

Act (except s. 413, Sch. 7) extended (E.W.) (1.1.1992) by S.I. 1991/2684, arts. 2(1), 4, Sch.1.

Act extended (1.10.1996) by 1996 c. 52. s. 7, Sch. 1 Pt. II para. 14(1); S.I. 1996/2402, art. 3 (subject to transitional provisions and savings in Sch.)

Act (except ss. 8-10, 24-26) extended (15.7.2003) by 1999 c. 29, s. 220(3), Sch. 14 Pt. III para. 20; S.I. 2003/1920, art. 2

C7

Act: power to modify conferred (2.4.2001) by 2000 c. 39, s. 7(2); S.I. 2001/776, art. 2(1)(a) (subject to transitional provisions in art. 3)

Act: power to apply (with modifications) conferred (E.W.S.) (15.9.2003) by 2002 c. 40, ss. 254(1), 279 (with s. 249(6)); S.I. 2003/2093, art. 2(1), Sch. 1 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))

Act: power to amend conferred (E.W.) (1.4.2004) by 2002 c. 40, ss. 264(2), 279 (with s. 249(6)); S.I. 2003/2093, art. 2(2), Sch. 2 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))

C8

Act modified (1.8.2007) by The European Grouping of Territorial Cooperation Regulations 2007 (S.I. 2007/1949), reg. 7, Sch. Pt. 2

C9

Act applied (with modifications) (6.4.2008) by Serious Crime Act 2007 (c. 27), ss. 27(2)-(4), 94; S.I. 2008/755, art. 15(1)(f) (as amended (2.2.2026 for specified purposes) by Border Security, Asylum and Immigration Act 2025 (c. 31), ss. 57(4)(b), 65(1); S.I. 2026/59, reg. 2(g))

C10

Act applied in part (with modifications) (8.10.2008 at 12.15 p.m.) by The Kaupthing Singer & Friedlander Limited Transfer of Certain Rights and Liabilities Order 2008 (S.I. 2008/2674), Pt. 5 (arts. 19-27)

C11

Act applied in part (with modifications) (7.10.2008 at 9.30 a.m.) by The Heritable Bank plc Transfer of Certain Rights and Liabilities Order 2008 (S.I. 2008/2644), Pt. 4 (arts. 18-25)

C12

Act excluded (26.1.2009) by 1998 c. 17 s. 38A(6) (as inserted by Energy Act 2008 (c. 32), ss. 74(1), 110; S.I. 2009/45, art. 2(b)(i))

C13

Act excluded (6.4.2009) by Energy Act 2008 (c. 32), ss. 56(5), 110; S.I. 2009/45, art. 4(b)(i)

C14

Act excluded (E.W.) (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), ss. 167(5)(b), 325; S.I. 2010/862, art. 2 (with Sch.)

C15

Act: power to amend conferred (17.2.2009 for certain purposes, otherwise 21.02.2009) by Banking Act 2009 (c. 1), s. 158(2)(b) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch.

C16

Act: power to amend conferred (17.2.2009 for certain purposes, otherwise 21.02.2009) by Banking Act 2009 (c. 1), s. 159(2)(b) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch.

C17

Act applied in part by S.I. 1989/638, reg. 19 (as amended (1.10.2009) by The European Economic Interest Grouping (Amendment) Regulations 2009 (S.I. 2009/2399), reg. 20 (with reg. 2))

C18

Act applied (1.11.2009) by The Water Industry (Special Administration) Rules 2009 (S.I. 2009/2477), rule 102 (with rules 3(2), 4)

C19

Act applied (with modifications) (23.11.2009) by The Scottish and Northern Ireland Banknote Regulations 2009 (S.I. 2009/3056), reg. 29, Sch. 1 para. 2

C20

Act: power to modify conferred (E.W.) (1.10.2010 for specified purposes) by Flood and Water Management Act 2010 (c. 29), ss. 34, 49(3), Sch. 5 para. 3 (with s. 49(1)(6)); S.I. 2010/2169, art. 4, Sch.

C21

Act applied (with modifications) (8.2.2011) by The Investment Bank Special Administration Regulations 2011 (S.I. 2011/245), regs. 8(7), 9, 15, 16-21, 24, 25, Schs. 1-4 (as amended (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 198(i)(n) (with Sch. 2 para. 213); (7.4.2017) by The Deregulation Act 2015, the Small Business, Enterprise and Employment Act 2015 and the Insolvency (Amendment) Act (Northern Ireland) 2016 (Consequential Amendments and Transitional Provisions) Regulations 2017 (S.I. 2017/400), reg. 10); (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 36(4) (with regs. 7(4), 9(1)); and (13.3.2018) by The Small Business, Enterprise and Employment Act 2015 (Consequential Amendments, Savings and Transitional Provisions) Regulations 2018 (S.I. 2018/208), reg. 13)

C22

Act modified (30.6.2011) by The Investment Bank Special Administration (England and Wales) Rules 2011 (S.I. 2011/1301), rule 334 (with rule 5(2))

C23

Act modified (1.10.2011) by Postal Services Act 2011 (c. 5), ss. 73, 93(2)(3), Sch. 10 paras. 40, 41; S.I. 2011/2329, art. 3 (with arts. 4, 5)

C24

Act: power to modify conferred (1.10.2011) by Postal Services Act 2011 (c. 5), ss. 73, 93(2)(3), Sch. 10 para. 46; S.I. 2011/2329, art. 3 (with arts. 4, 5)

C25

Act applied in part (with modifications) (23.12.2011) by The Legal Services Act 2007 (Designation as a Licensing Authority) (No. 2) Order 2011 (S.I. 2011/2866), art. 8(1), Sch. 2

C26

Act excluded (S.) (1.4.2012) by Housing (Scotland) Act 2010 (asp 17), ss. 106(7)(b), 166(2); S.S.I. 2012/39, art. 2, sch. 1 (with sch. 2) (as amended (1.4.2012) by S.S.I. 2012/91, art. 4)

C27

Act modified (7.6.2013) by The Energy Supply Company Administration Rules 2013 (S.I. 2013/1046), rules 1, 205(2)-(4) (with rules 3, 208)

C28

Act modified (31.1.2014) by The Postal Administration Rules 2013 (S.I. 2013/3208), rule 206 (with rules 3, 210)

C29

Act excluded (10.1.2015) by The Bank Recovery and Resolution (No. 2) Order 2014 (S.I. 2014/3348), art. 217

C30

Act applied (with modifications) (31.7.2015) by The European Grouping of Territorial Cooperation Regulations 2015 (S.I. 2015/1493), reg. 8(2) (with reg. 11)

C31

Act: power to apply (with or without modifications) conferred by 2007 c. 27, s. 27A(7) (as inserted (1.3.2016) by Serious Crime Act 2015 (c. 9), s. 88(1), Sch. 1 para. 20; S.I. 2016/148, reg. 3(f))

C32

Act applied by 2007 c. 27, s. 27A(2) (as inserted (1.3.2016) by Serious Crime Act 2015 (c. 9), s. 88(1), Sch. 1 para. 20; S.I. 2016/148, reg. 3(f))

C33

Act modified by The Insolvent Partnerships Order 1994 (S.I. 1994/2421), Sch. 4 (as amended (6.4.2017) by The Deregulation Act 2015 and Small Business, Enterprise and Employment Act 2015 (Consequential Amendments) (Savings) Regulations 2017 (S.I. 2017/540), Sch. 2 para. 8 (with reg. 4))

C34

Act modified by The Insolvent Partnerships Order 1994 (S.I. 1994/2421), Sch. 7 (as amended (6.4.2017) by The Deregulation Act 2015 and Small Business, Enterprise and Employment Act 2015 (Consequential Amendments) (Savings) Regulations 2017 (S.I. 2017/540), Sch. 2 para. 9 (with reg. 4))

C35

Act applied (with modifications) (6.6.2013) by The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 (S.I. 2013/1388), reg. 1, Sch. 2 (with reg. 24) (as amended (7.4.2017) by The Deregulation Act 2015, the Small Business, Enterprise and Employment Act 2015 and the Insolvency (Amendment) Act (Northern Ireland) 2016 (Consequential Amendments and Transitional Provisions) Regulations 2017 (S.I. 2017/400), reg. 11(2); and (13.3.2018) by The Small Business, Enterprise and Employment Act 2015 (Consequential Amendments, Savings and Transitional Provisions) Regulations 2018 (S.I. 2018/208), regs. 1(3), 14)

C36

Act modified by 1986 c. 46, s. 22H(4)(g) (as inserted (8.12.2017) by The Risk Transformation Regulations 2017 (S.I. 2017/1212), reg. 1(2), Sch. 4 para. 3 (with reg. 189))

C37

Act applied (with modifications) (8.12.2017) by The Risk Transformation Regulations 2017 (S.I. 2017/1212), regs. 1(2), 166(2), 167(2), Sch. 2, Sch. 3 (with regs. 168, 189)

C38

Act modified by S.I. 2012/3013, Sch. 2 para. 34 (as inserted (4.7.2018) by The Insolvency of Registered Providers of Social Housing Regulations 2018 (S.I. 2018/728), regs. 1, 3(6), Sch. 2)

C39

Act modified in part (5.7.2018) by Housing and Planning Act 2016 (c. 22), s. 216(3), Sch. 5 para. 39 (with Sch. 5 para. 40); S.I. 2018/805, reg. 3(b)

C40

Act: power to modify conferred (5.7.2018) by Housing and Planning Act 2016 (c. 22), s. 216(3), Sch. 5 para. 45(2); S.I. 2018/805, reg. 3(b)

C41

Act specified provisions applied (with modifications) (13.7.2018 for E.W.) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 6 para. 5 (as amended by S.I. 2017/400, regs. 1(2), 6(a)(b) and S.I. 2018/208, regs. 1(3), 6(b)); S.I. 2018/848, art. 2(b)

C42

Act power to modify or exclude conferred (31.1.2019) by Technical and Further Education Act 2017 (c. 19), ss. 6(2)(a)(3)(4), 47(2); S.I. 2018/1161, reg. 3(a)

C43

Act modified in part (31.1.2019) by The Further Education Bodies (Insolvency) Regulations 2019 (S.I. 2019/138), regs. 4-6 (with regs. 1(2), 3(a)(i))

C44

Act excluded (31.1.2019) by The Education Administration Rules 2018 (S.I. 2018/1135), rules 1.1, 4.10(2) (with rule 1.2)

C45

Act applied in part (with modifications) (31.1.2019) by Technical and Further Education Act 2017 (c. 19), ss. 6(2)(b)(3), 9-12, 47(2); S.I. 2018/1161, reg. 3(a)

C46

Act applied (with modifications) (23.7.2019) by The Small Business, Enterprise and Employment Act 2015 (Consequential Amendments, Savings and Transitional Provisions) Regulations 2019 (S.I. 2019/1058), regs. 1, 14

C47

Act modified (1.8.2020) by The Smart Meter Communication Licensee Administration (England and Wales) Rules 2020 (S.I. 2020/629), rules 1, 3(2)-(4) (with rule 4(1))

C48

Act modified (12.11.2021) by The Payment and Electronic Money Institution Insolvency (England and Wales) Rules 2021 (S.I. 2021/1178), rules 2, 295

C49

Act modified (S.) (19.12.2022) by The Payment and Electronic Money Institution Insolvency (Scotland) Rules 2022 (S.I. 2022/1239), rules 2, 206

C50

Act: power to apply (with modifications) conferred (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 11 para. 165; S.I. 2023/779, reg. 4(ddd)(xiv)

C51

Act: power to apply and modify conferred (26.12.2023) by Energy Act 2023 (c. 52), ss. 48, 334(3)(a)

C52

Act: power to modify conferred (1.10.2010 for specified purposes, 12.1.2024 in so far as not already in force) by 1991 c. 56, s. 23(2E)-(2G) (as inserted by Flood and Water Management Act 2010 (c. 29), s. 49(3), Sch. 5 para. 3 (with s. 49(1)(6)); S.I. 2010/2169, art. 4, Sch.; S.I. 2024/35, art. 2(b))

Commencement

I1

Act not in force at Royal Assent, see s. 443

Contents

  1. The First Group of PartsCompany Insolvency; Companies Winding Up
  2. Part A1: Moratorium
  3. Chapter 1: Introductory
  4. A1Overview
  5. A2Eligible companies
  6. Chapter 2: Obtaining a moratorium
  7. A3Obtaining a moratorium by filing or lodging documents at court
  8. A4Obtaining a moratorium for company subject to winding-up petition
  9. A5Obtaining a moratorium for other overseas companies
  10. A6The relevant documents
  11. A7Beginning of moratorium and appointment of monitor
  12. A8Obligations to notify where moratorium comes into force
  13. Chapter 3: Length of moratorium
  14. Initial period
  15. A9End of the moratorium
  16. Extension of moratorium
  17. A10Extension by directors without creditor consent
  18. A11Extension by directors with creditor consent
  19. A12Creditor consent for the purposes of section A11
  20. A13Extension by court on application of directors
  21. A14Extension while proposal for CVA pending
  22. A15Extension by court in the course of other proceedings
  23. Early termination on certain grounds
  24. A16Company enters into insolvency procedure etc
  25. Obligations to notify change in end of moratorium
  26. A17Obligations to notify change in end of moratorium
  27. Chapter 4: Effects of moratorium
  28. Introductory
  29. A18Overview and construction of references to payment holidays
  30. Publicity about moratorium
  31. A19Publicity about moratorium
  32. Effect on creditors etc
  33. A20Restrictions on insolvency proceedings etc
  34. A21Restrictions on enforcement and legal proceedings
  35. A22Floating charges
  36. A23Enforcement of security granted during moratorium
  37. Notification of insolvency proceedings
  38. A24Duty of directors to notify monitor of insolvency proceedings etc
  39. Restrictions on transactions
  40. A25Restrictions on obtaining credit
  41. A26Restrictions on grant of security etc
  42. A27Prohibition on entering into market contracts etc
  43. Restrictions on payments and disposal of property
  44. A28Restrictions on payment of certain pre-moratorium debts
  45. A29Restrictions on disposal of property
  46. A30Restrictions on disposal of hire-purchase property
  47. Disposals of property free from charges etc
  48. A31Disposal of charged property free from charge
  49. A32Disposal of hire-purchase property
  50. Effect of contravention of certain provisions of Chapter
  51. A33Contravention of certain requirements imposed under this Chapter
  52. Chapter 5: The monitor
  53. A34Status of monitor
  54. A35Monitoring
  55. A36Provision of information to monitor
  56. A37Application by monitor for directions
  57. A38Termination of moratorium by monitor
  58. A39Replacement of monitor or appointment of additional monitor
  59. A40Application of Part where two or more persons act as monitor
  60. A41Presumption of validity
  61. Chapter 6: Challenges
  62. A42Challenge to monitor’s actions
  63. A43Challenges to monitor remuneration in insolvency proceedings
  64. A44Challenge to directors’ actions
  65. A45Challenge brought by Board of the Pension Protection Fund
  66. Chapter 7: Offences: general
  67. A46Offence of fraud etc during or in anticipation of moratorium
  68. A47Offence of false representation etc to obtain a moratorium
  69. A48Prosecution of delinquent officers of company
  70. Chapter 8: Miscellaneous and general
  71. Special rules for certain kinds of company etc
  72. A49Regulated companies: modifications to this Part
  73. A50Power to modify this Part etc in relation to certain companies
  74. A51Power to make provision in connection with pension schemes
  75. Floating charges
  76. A52Void provisions in floating charge documents
  77. Interpretation of this Part
  78. A53Meaning of “pre-moratorium debt” and “moratorium debt”
  79. A54Interpretation of this Part: general
  80. Regulations
  81. A55Regulations
  82. Part I: Company Voluntary Arrangements
  83. The Proposal
  84. 1Those who may propose an arrangement.
  85. 1AMoratorium. Repealed
  86. 2Procedure where nominee is not the liquidator or administrator.
  87. 3Consideration of proposal.
  88. Consideration and implementation of proposal
  89. 4Decisions of the company and its creditors.
  90. 4AApproval of arrangement.
  91. 5Effect of approval.
  92. 6Challenge of decisions.
  93. 6AFalse representations, etc.
  94. 7Implementation of proposal.
  95. 7AProsecution of delinquent officers of company.
  96. 7BArrangements coming to an end prematurely.
  97. Part II: Administration
  98. 8Administration
  99. Part II: Administration Orders
  100. Making etc. of administration order
  101. 9Application for order.
  102. 10Effect of application.
  103. 11Effect of order.
  104. 12Notification of order.
  105. Administrators
  106. 13Appointment of administrator.
  107. 14General powers.
  108. 15Power to deal with charged property, etc.
  109. 16Operation of s. 15 in Scotland.
  110. 17General duties.
  111. 18Discharge or variation of administration order.
  112. 19Vacation of office.
  113. 20Release of administrator.
  114. Ascertainment and investigation of company’s affairs
  115. 21Information to be given by administrator.
  116. 22Statement of affairs to be submitted to administrator.
  117. Administrator’s proposals
  118. 23Statement of proposals.
  119. 24Consideration of proposals by creditors’ meeting.
  120. 25Approval of substantial revisions.
  121. Miscellaneous
  122. 26Creditors’ committee.
  123. 27Protection of interests of creditors and members.
  124. Part III: Receivership
  125. Chapter I: Receivers and Managers (England and Wales)
  126. Preliminary and general provisions
  127. 28Extent of this Chapter.
  128. 29Definitions.
  129. 30Disqualification of body corporate from acting as receiver.
  130. 31Disqualification of bankrupt or person in respect of whom a debt relief order is made
  131. 32Power for court to appoint official receiver.
  132. Receivers and managers appointed out of court
  133. 33Time from which appointment is effective.
  134. 34Liability for invalid appointment.
  135. 35Application to court for directions.
  136. 36Court’s power to fix remuneration.
  137. 37Liability for contracts, etc.
  138. 38Receivership accounts to be delivered to registrar.
  139. Provisions applicable to every receivership
  140. 39Notification that receiver or manager appointed.
  141. 40Payment of debts out of assets subject to floating charge.
  142. 41Enforcement of duty to make returns.
  143. Administrative receivers: general
  144. 42General powers.
  145. 43Power to dispose of charged property, etc.
  146. 44Agency and liability for contracts.
  147. 45Vacation of office.
  148. Administrative receivers: ascertainment and investigation of company’s affairs
  149. 46Information to be given by administrative receiver.
  150. 47Statement of affairs to be submitted.
  151. 48Report by administrative receiver.
  152. 49Committee of creditors.
  153. Chapter II: Receivers (Scotland)
  154. 50Extent of this Chapter.
  155. 51Power to appoint receiver.
  156. 52Circumstances justifying appointment.
  157. 53Mode of appointment by holder of charge.
  158. 54Appointment by court.
  159. 55Powers of receiver.
  160. 56Precedence among receivers.
  161. 57Agency and liability of receiver for contracts.
  162. 58Remuneration of receiver.
  163. 59Priority of debts.
  164. 60Distribution of moneys.
  165. 61Disposal of interest in property.
  166. 62Cessation of appointment of receiver.
  167. 63Powers of court.
  168. 64Notification that receiver appointed.
  169. 65Information to be given by receiver.
  170. 66Company’s statement of affairs.
  171. 67Report by receiver.
  172. 68Committee of creditors
  173. 69Enforcement of receiver’s duty to make returns, etc.
  174. 70Interpretation for Chapter II.
  175. 71Prescription of forms, etc.; regulations.
  176. Chapter III: Receivers’ Powers in Great Britain as a Whole
  177. 72Cross-border operation of receivership provisions.
  178. Chapter IV: PROHIBITION OF APPOINTMENT OF ADMINISTRATIVE RECEIVER
  179. 72AFloating charge holder not to appoint administrative receiver
  180. 72BFirst exception: capital market
  181. 72CSecond exception: public-private partnership
  182. 72DThird exception: utilities
  183. 72DAException in respect of urban regeneration projects
  184. 72EFourth exception: project finance
  185. 72FFifth exception: financial market
  186. 72GSixth exception: social landlords
  187. 72GAException in relation to protected railway companies etc.
  188. 72HSections 72A to 72G: supplementary
  189. Part IV: Winding Up of Companies Registered under the Companies Acts
  190. Chapter I: Preliminary
  191. Introductory
  192. 73Scheme of this Part
  193. Contributories
  194. 74Liability as contributories of present and past members.
  195. 75Directors, etc. with unlimited liability. Repealed
  196. 76Liability of past directors and shareholders.
  197. 77Limited company formerly unlimited.
  198. 78Unlimited company formerly limited.
  199. 79Meaning of “contributory”.
  200. 80Nature of contributory’s liability.
  201. 81Contributories in case of death of a member.
  202. 82Effect of contributory’s bankruptcy.
  203. 83Companies registered but not formed under the Companies Act 2006
  204. Chapter II: Voluntary Winding Up (Introductory and General)
  205. Resolutions for, and commencement of, voluntary winding up
  206. 84Circumstances in which company may be wound up voluntarily.
  207. 85Notice of resolution to wind up.
  208. 86Commencement of winding up.
  209. Consequences of resolution to wind up
  210. 87Section 87
  211. 88Avoidance of share transfers, etc. after winding-up resolution.
  212. Declaration of solvency
  213. 89Statutory declaration of solvency.
  214. 90Distinction between “members’” and “creditors’” voluntary winding up.
  215. Chapter III: Members’ Voluntary Winding Up
  216. 91Appointment of liquidator.
  217. 92Power to fill vacancy in office of liquidator.
  218. 92AProgress report to company ...
  219. 93General company meeting at each year’s end (Scotland) Repealed
  220. 94Final account prior to dissolution
  221. 95Effect of company’s insolvency.
  222. 96Conversion to creditors’ voluntary winding up.
  223. Chapter IV: Creditors’ Voluntary Winding Up
  224. 97Application of this Chapter.
  225. 98Meeting of creditors. Repealed
  226. 99Directors to lay statement of affairs before creditors.
  227. 100Appointment of liquidator.
  228. 101Appointment of liquidation committee.
  229. 102Creditors’ meeting where winding up converted under s. 96. Repealed
  230. 103Cesser of directors’ powers.
  231. 104Vacancy in office of liquidator.
  232. 104AProgress report to company and creditors ... ...
  233. 105Meetings of company and creditors at each year’s end (Scotland). Repealed
  234. 106Final account prior to dissolution.
  235. Chapter V: Provisions Applying to both kinds of Voluntary Winding Up
  236. 107Distribution of company’s property.
  237. 108Appointment or removal of liquidator by the court.
  238. 109Notice by liquidator of his appointment.
  239. 110Acceptance of shares, etc., as consideration for sale of company property.
  240. 111Dissent from arrangement under s. 110.
  241. 112Reference of questions to court.
  242. 113Court’s power to control proceedings (Scotland).
  243. 114No liquidator appointed or nominated by company.
  244. 115Expenses of voluntary winding up.
  245. 116Saving for certain rights.
  246. Chapter VI: Winding Up by the Court
  247. Jurisdiction (England and Wales)
  248. 117High Court and county court jurisdiction.
  249. 118Proceedings taken in wrong court.
  250. 119Proceedings in county court; case stated for High Court.
  251. Jurisdiction (Scotland)
  252. 120Court of Session and sheriff court jurisdiction.
  253. 121Power to remit winding up to Lord Ordinary.
  254. Grounds and effect of winding-up petition
  255. 122Circumstances in which company may be wound up by the court.
  256. 123Definition of inability to pay debts.
  257. 124Application for winding up.
  258. 124APetition for winding up on grounds of public interest.
  259. 124BPetition for winding up of SE Repealed
  260. 124CPetition for winding up of SCE Repealed
  261. 125Powers of court on hearing of petition.
  262. 126Power to stay or restrain proceedings against company.
  263. 127Avoidance of property dispositions, etc.
  264. 128Avoidance of attachments, etc.
  265. Commencement of winding up
  266. 129Commencement of winding up by the court.
  267. 130Consequences of winding-up order.
  268. Investigation procedures
  269. 131Company’s statement of affairs.
  270. 132Investigation by official receiver.
  271. 133Public examination of officers
  272. 134Enforcement of s. 133.
  273. Appointment of liquidator
  274. 135Appointment and powers of provisional liquidator.
  275. 136Functions of official receiver in relation to office of liquidator.
  276. 137Appointment by Secretary of State.
  277. 138Appointment of liquidator in Scotland.
  278. 139Choice of liquidator by creditors and contributories.
  279. 140Appointment by the court following administration or voluntary arrangement.
  280. Liquidation committees
  281. 141Liquidation committee (England and Wales).
  282. 142Liquidation committee (Scotland).
  283. The liquidator’s functions
  284. 143General functions in winding up by the court.
  285. 144Custody of company’s property.
  286. 145Vesting of company property in liquidator.
  287. 146Final account
  288. 146AOfficial receiver’s duty to send statement to registrar about other proceedings Repealed
  289. General powers of court
  290. 147Power to stay or sist winding up.
  291. 148Settlement of list of contributories and application of assets.
  292. 149Debts due from contributory to company.
  293. 150Power to make calls.
  294. 151Payment into bank of money due to company. Repealed
  295. 152Order on contributory to be conclusive evidence.
  296. 153Power to exclude creditors not proving in time.
  297. 154Adjustment of rights of contributories.
  298. 155Inspection of books by creditors, etc.
  299. 156Payment of expenses of winding up.
  300. 157Attendance at company meetings (Scotland).
  301. 158Power to arrest absconding contributory.
  302. 159Powers of court to be cumulative.
  303. 160Delegation of powers to liquidator (England and Wales).
  304. Enforcement of, and appeal from, orders
  305. 161Orders for calls on contributories (Scotland).
  306. 162Appeals from orders in Scotland.
  307. Chapter VII: Liquidators
  308. Preliminary
  309. 163Style and title of liquidators.
  310. 164Corrupt inducement affecting appointment.
  311. Liquidator’s powers and duties
  312. 165Voluntary winding up.
  313. 166Creditors’ voluntary winding up.
  314. 167Winding up by the court.
  315. 168Supplementary powers (England and Wales).
  316. 169Supplementary powers (Scotland).
  317. 170Enforcement of liquidator’s duty to make returns, etc.
  318. Removal; vacation of office
  319. 171Removal, etc. (voluntary winding up).
  320. 172Removal, etc. (winding up by the court).
  321. Release of liquidator
  322. 173Release (voluntary winding up).
  323. 174Release (winding up by the court).
  324. Chapter VIII: Provisions of General Application in Winding Up
  325. Moratorium: order of priority of payment of debts
  326. 174AMoratorium debts etc: priority
  327. Preferential debts
  328. 175Preferential debts (general provision).
  329. 176Preferential charge on goods distrained , etc.
  330. Non-preferential debts
  331. 176AZANon-preferential debts of financial institutions
  332. Property subject to floating charge
  333. 176ZAPayment of expenses of winding up (England and Wales)
  334. 176ZBApplication of proceeds of office-holder claims
  335. 176AShare of assets for unsecured creditors
  336. Special managers
  337. 177Power to appoint special manager.
  338. Disclaimer (England and Wales only)
  339. 178Power to disclaim onerous property.
  340. 179Disclaimer of leaseholds.
  341. 180Land subject to rentcharge.
  342. 181Powers of court (general).
  343. 182Powers of court (leaseholds).
  344. Execution, attachment and the Scottish equivalents
  345. 183Effect of execution or attachment (England and Wales).
  346. 184Duties of officers charged with execution of writs and other processes (England and Wales).
  347. 185Effect of diligence (Scotland)
  348. Miscellaneous matters
  349. 186Rescission of contracts by the court.
  350. 187Power to make over assets to employees.
  351. 188Notification that company is in liquidation.
  352. 189Interest on debts.
  353. 190Documents exempt from stamp duty.
  354. 191Company’s books to be evidence.
  355. 192Information as to pending liquidations.
  356. 193Unclaimed dividends (Scotland).
  357. 194Resolutions passed at adjourned meetings. Repealed
  358. 195Court's powers to ascertain wishes of creditors or contributories.
  359. 196Judicial notice of court documents.
  360. 197Commission for receiving evidence.
  361. 198Court order for examination of persons in Scotland.
  362. 199Costs of application for leave to proceed (Scottish companies).
  363. 200Affidavits etc. in United Kingdom and overseas.
  364. Chapter IX: Dissolution of Companies After Winding Up
  365. 201Dissolution (voluntary winding up).
  366. 202Early dissolution (England and Wales).
  367. 203Consequence of notice under s. 202.
  368. 204Early dissolution (Scotland).
  369. 205Dissolution otherwise than under ss. 202-204.
  370. Chapter X: Malpractice before and during Liquidation; Penalisation of Companies and Company Officers; Investigations and Prosecutions
  371. Offences of fraud, deception, etc.
  372. 206Fraud, etc. in anticipation of winding up.
  373. 207Transactions in fraud of creditors.
  374. 208Misconduct in course of winding up.
  375. 209Falsification of company’s books.
  376. 210Material omissions from statement relating to company’s affairs.
  377. 211False representations to creditors.
  378. Penalisation of directors and officers
  379. 212Summary remedy against delinquent directors, liquidators, etc.
  380. 213Fraudulent trading.
  381. 214Wrongful trading.
  382. 215Proceedings under ss. 213, 214.
  383. 216Restriction on re-use of company names.
  384. 217Personal liability for debts, following contravention of s. 216.
  385. Investigation and prosecution of malpractice
  386. 218Prosecution of delinquent officers and members of company.
  387. 219Obligations arising under s. 218.
  388. Part V: Winding Up of Unregistered Companies
  389. 220Meaning of “unregistered company”.
  390. 221Winding up of unregistered companies.
  391. 222Inability to pay debts: unpaid creditor for £750 or more.
  392. 223Inability to pay debts: debt remaining unsatisfed after action brought.
  393. 224Inability to pay debts: other cases.
  394. 225Company incorporated outside Great Britain may be wound up though dissolved.
  395. 226Contributories in winding up of unregistered company.
  396. 227Power of court to stay, sist or restrain proceedings.
  397. 228Actions stayed on winding-up order.
  398. 229Provisions of this Part to be cumulative.
  399. Part VI: Miscellaneous Provisions Applying to Companies Which are Insolvent or in Liquidation
  400. Office-holders
  401. 230Holders of office to be qualified insolvency practitioners.
  402. 231Appointment to office of two or more persons.
  403. 232Validity of office-holder’s acts.
  404. Management by administrators, liquidators, etc.
  405. 233Supplies of gas, water, electricity, etc.
  406. 233AFurther protection of essential supplies
  407. 233BProtection of supplies of goods and services
  408. 233CPowers to amend section 233B and Schedule 4ZZA
  409. 234Getting in the company’s property.
  410. 235Duty to co-operate with office-holder.
  411. 236Inquiry into company’s dealings, etc.
  412. 237Court’s enforcement powers under s. 236.
  413. Adjustment of prior transactions (administration and liquidation)
  414. 238Transactions at an undervalue (England and Wales).
  415. 239Preferences (England and Wales).
  416. 240“Relevant time” under ss. 238, 239.
  417. 241Orders under ss. 238, 239.
  418. 242Gratuitous alienations (Scotland).
  419. 243Unfair preferences (Scotland).
  420. 244Extortionate credit transactions.
  421. 245Avoidance of certain floating charges.
  422. 246Unenforceability of liens on books, etc.
  423. Administration: penalisation of directors etc
  424. 246ZAFraudulent trading: administration
  425. 246ZBWrongful trading: administration
  426. 246ZCProceedings under section 246ZA or 246ZB
  427. Power to assign certain causes of action
  428. 246ZDPower to assign
  429. Decisions by creditors and contributories
  430. 246ZEDecisions by creditors and contributories: general
  431. 246ZFDeemed consent procedure
  432. 246ZGPower to amend sections 246ZE and 246ZF
  433. Chapter
  434. Remote attendance at meetings
  435. 246ARemote attendance at meetings
  436. Chapter
  437. Giving of notices etc by office-holders
  438. 246BUse of websites
  439. 246CCreditors' ability to opt out of receiving certain notices
  440. Part VII: Interpretation for First Group of Parts
  441. 247“Insolvency” and “go into liquidation”.
  442. 248“Secured creditor”, etc.
  443. 248A“Opted-out creditor”
  444. 249“Connected” with a company.
  445. 250“Member” of a company.
  446. 251Expressions used generally.
  447. The Second Group of PartsInsolvency of Individuals; Bankruptcy
  448. Part 7A: Debt relief orders
  449. Preliminary
  450. 251ADebt relief orders
  451. Applications for a debt relief order
  452. 251BMaking of application
  453. 251CDuty of official receiver to consider and determine application
  454. 251DPresumptions applicable to the determination of an application
  455. Making and effect of debt relief order
  456. 251EMaking of debt relief orders
  457. 251FEffect of debt relief order on other debt management arrangements
  458. 251GMoratorium from qualifying debts
  459. 251HThe moratorium period
  460. 251IDischarge from qualifying debts
  461. Duties of debtor
  462. 251JProviding assistance to official receiver etc
  463. Objections, investigations and revocation
  464. 251KObjections and investigations
  465. 251LPower of official receiver to revoke or amend a debt relief order
  466. Role of the court
  467. 251MPowers of court in relation to debt relief orders
  468. 251NInquiry into debtor's dealings and property
  469. Offences
  470. 251OFalse representations and omissions
  471. 251PConcealment or falsification of documents
  472. 251QFraudulent disposal of property
  473. 251RFraudulent dealing with property obtained on credit
  474. 251SObtaining credit or engaging in business
  475. 251TOffences: supplementary
  476. Supplementary
  477. 251UApproved intermediaries
  478. 251VDebt relief restrictions orders and undertakings
  479. 251WRegister of debt relief orders etc
  480. 251XInterpretation
  481. Part VIII: Individual Voluntary Arrangements
  482. Moratorium for insolvent debtor
  483. 252Interim order of court.
  484. 253Application for interim order.
  485. 254Effect of application.
  486. 255Cases in which interim order can be made.
  487. 256Nominee’s report on debtor’s proposal.
  488. Procedure where no interim order made
  489. 256ADebtor’s proposal and nominee’s report.
  490. Creditors’ decisions
  491. 257Consideration of debtor's proposal by creditors
  492. Consideration and implementation of debtor’s proposal
  493. 258Approval of debtor's proposal
  494. 259Report of decisions to court.
  495. 260Effect of approval.
  496. 261Additional effect on undischarged bankrupt
  497. 262Challenge of creditors' decision.
  498. 262AFalse representations etc.
  499. 262BProsecution of delinquent debtors.
  500. 262CArrangements coming to an end prematurely.
  501. 263Implementation and supervision of approved voluntary arrangement.
  502. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
  503. 263AAvailability Repealed
  504. 263BDecision Repealed
  505. 263CResult Repealed
  506. 263DApproval of voluntary arrangement Repealed
  507. 263EImplementation Repealed
  508. 263FRevocation Repealed
  509. 263GOffences Repealed
  510. Part IX: Bankruptcy
  511. Chapter A1: Adjudicators: bankruptcy applications by debtors and bankruptcy orders
  512. 263HBankruptcy applications to an adjudicator
  513. 263IDebtors against whom an adjudicator may make a bankruptcy order
  514. 263JConditions applying to bankruptcy application
  515. 263KDetermination of bankruptcy application
  516. 263LAdjudicator's requests for further information
  517. 263MMaking of bankruptcy order
  518. 263NRefusal to make a bankruptcy order: review and appeal etc.
  519. 263OFalse representations and omissions
  520. Chapter I: The court: bankruptcy petitions and bankruptcy orders
  521. Preliminary
  522. 264Who may present a bankruptcy petition.
  523. 265Creditor's petition: debtors against whom the court may make a bankruptcy order.
  524. 266Other preliminary conditions.
  525. Creditor’s petition
  526. 267Grounds of creditor’s petition.
  527. 268Definition of “inability to pay”, etc.; the statutory demand.
  528. 269Creditor with security.
  529. 270Expedited petition.
  530. 271Proceedings on creditor’s petition.
  531. ...
  532. 272Grounds of debtor’s petition. Repealed
  533. 273Appointment of insolvency practitioner by the court. Repealed
  534. 274Action on report of insolvency practitioner. Repealed
  535. 274ADebtor who meets conditions for a debt relief order Repealed
  536. 275Summary administration. Repealed
  537. Other cases for special consideration
  538. 276Default in connection with voluntary arrangement.
  539. 277Petition based on criminal bankruptcy order.
  540. Chapter IA: Commencement and duration of bankruptcy
  541. 278Commencement and continuance.
  542. 279Duration
  543. 280Discharge by order of the court.
  544. 281Effect of discharge.
  545. 281APost-discharge restrictions
  546. 282Court’s power to annul bankruptcy order.
  547. Chapter II: Protection of Bankrupt’s Estate and Investigation of His Affairs
  548. 283Definition of bankrupt’s estate.
  549. 283ABankrupt’s home ceasing to form part of estate
  550. 284Restrictions on dispositions of property.
  551. 285Restriction on proceedings and remedies.
  552. 286Power to appoint interim receiver.
  553. 287Powers of interim receiver.
  554. 288Statement of affairs.
  555. 289Investigatory duties of official receiver
  556. 290Public examination of bankrupt.
  557. 291Duties of bankrupt in relation to official receiver.
  558. Chapter III: Trustees in Bankruptcy
  559. Tenure of office as trustee
  560. 291AFirst trustee in bankruptcy
  561. 292Appointment of trustees: general provision
  562. 293Summoning of meeting to appoint first trustee. Repealed
  563. 294Power of creditors to requisition meeting. Repealed
  564. 295Failure of meeting to appoint trustee. Repealed
  565. 296Appointment of trustee by Secretary of State.
  566. 297Special cases. Repealed
  567. 298Removal of trustee; vacation of office.
  568. 299Release of trustee.
  569. 300Vacancy in office as trustee.
  570. Control of trustee
  571. 301Creditors’ committee.
  572. 302Exercise by Secretary of State of functions of creditors’ committee.
  573. 303General control of trustee by the court.
  574. 304Liability of trustee.
  575. Chapter IV: Administration by Trustee
  576. Preliminary
  577. 305General functions of trustee.
  578. Acquisition, control and realisation of bankrupt’s estate
  579. 306Vesting of bankrupt’s estate in trustee.
  580. 306AProperty subject to restraint order
  581. 306AAProperty released from detention
  582. 306BProperty in respect of which receivership or administration order made
  583. 306BAProperty in respect of which realisation order made
  584. 306CProperty subject to certain orders where confiscation order discharged or quashed
  585. 307After-acquired property.
  586. 308Vesting in trustee of certain items of excess value.
  587. 308AVesting in trustee of certain tenancies.
  588. 309Time-limit for notice under s. 307 or 308.
  589. 310Income payments orders.
  590. 310AIncome payments agreement
  591. 311Acquisition by trustee of control.
  592. 312Obligation to surrender control to trustee.
  593. 313Charge on bankrupt’s home.
  594. 313ALow value home: application for sale, possession or charge
  595. 314Powers of trustee.
  596. Disclaimer of onerous property
  597. 315Disclaimer (general power).
  598. 316Notice requiring trustee’s decision.
  599. 317Disclaimer of leaseholds.
  600. 318Disclaimer of dwelling house.
  601. 319Disclaimer of land subject to rentcharge.
  602. 320Court order vesting disclaimed property.
  603. 321Order under s. 320 in respect of leaseholds.
  604. Distribution of bankrupt’s estate
  605. 322Proof of debts.
  606. 323Mutual credit and set-off.
  607. 324Distribution by means of dividend.
  608. 325Claims by unsatisfied creditors.
  609. 326Distribution of property in specie.
  610. 327Distribution in criminal bankruptcy.
  611. 328Priority of debts.
  612. 329Debts to spouse.
  613. 330Final distribution.
  614. 331Final report.
  615. 332Saving for bankrupt’s home.
  616. Supplemental
  617. 333Duties of bankrupt in relation to trustee.
  618. 334Stay of distribution in case of second bankruptcy.
  619. 335Adjustment between earlier and later bankruptcy estates.
  620. Chapter V: Effect of Bankruptcy on Certain Rights Transacttions, Etc.
  621. Rights under trusts of land
  622. 335ARights under trusts of land.
  623. Rights of occupation
  624. 336Rights of occupation etc. of bankrupt’s spouse or civil partner.
  625. 337Rights of occupation of bankrupt.
  626. 338Payments in respect of premises occupied by bankrupt.
  627. Adjustment of prior transactions, etc.
  628. 339Transactions at an undervalue.
  629. 340Preferences.
  630. 341“Relevant time” under ss. 339, 340.
  631. 342Orders under ss. 339, 340.
  632. 342ARecovery of excessive pension contributions.
  633. 342BOrders under section 342A.
  634. 342COrders under section 342A: supplementary.
  635. 342DRecovery of excessive contributions in pension-sharing cases.
  636. 342EOrders under section 339 or 340 in respect of pension-sharing transactions.
  637. 342FOrders under section 339 or 340 in pension-sharing cases: supplementary.
  638. 343Extortionate credit transactions.
  639. 344Avoidance of general assignment of book debts.
  640. 345Contracts to which bankrupt is a party.
  641. 346Enforcement procedures.
  642. 347Distress, etc.
  643. 348Apprenticeships, etc.
  644. 349Unenforceability of liens on books, etc.
  645. 349AArbitration agreements to which bankrupt is party.
  646. Chapter VI: Bankruptcy Offences
  647. Preliminary
  648. 350Scheme of this Chapter.
  649. 351Definitions.
  650. 352Defence of innocent intention.
  651. Wrongdoing by the bankrupt before and after bankruptcy
  652. 353Non-disclosure.
  653. 354Concealment of property.
  654. 355Concealment of books and papers; falsification.
  655. 356False statements.
  656. 357Fraudulent disposal of property.
  657. 358Absconding.
  658. 359Fraudulent dealing with property obtained on credit.
  659. 360Obtaining credit; engaging in business.
  660. 361Failure to keep proper accounts of business. Repealed
  661. 362Gambling. Repealed
  662. Chapter VII: Powers of Court In Bankruptcy
  663. 363General control of court.
  664. 364Power of arrest.
  665. 365Seizure of bankrupt’s property.
  666. 366Inquiry into bankrupt’s dealings and property.
  667. 367Court’s enforcement powers under s. 366.
  668. 368Provision corresponding to s. 366, where interim receiver appointed.
  669. 369Order for production of documents by inland revenue.
  670. 370Power to appoint special manager.
  671. 371Re-direction of bankrupt’s letters, etc.
  672. Part X: Individual Insolvency: General Provisions
  673. 372Supplies of gas, water, electricity, etc.
  674. 372AFurther protection of essential supplies
  675. 373Jurisdiction in relation to insolvent individuals.
  676. 374Insolvency districts.
  677. 375Appeals etc. from courts exercising insolvency jurisdiction.
  678. 376Time-limits.
  679. 377Formal defects.
  680. 378Exemption from stamp duty.
  681. 379Annual report.
  682. Creditors' decisions
  683. 379ZACreditors' decisions: general
  684. 379ZBDeemed consent procedure
  685. 379ZCPower to amend sections 379ZA and 379ZB
  686. Chapter
  687. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
  688. 379ARemote attendance at meetings Repealed
  689. Chapter
  690. Giving of notices etc by office-holders
  691. 379BUse of websites
  692. 379CCreditors' ability to opt out of receiving certain notices
  693. Part XI: Interpretation for Second Group of Parts
  694. 380Introductory.
  695. 381“Bankrupt” and associated terminology.
  696. 382“Bankruptcy debt” , “liability”
  697. 383“Creditor”, “security”, etc.
  698. 383A“Opted-out creditor”
  699. 384“Prescribed” and “the rules”.
  700. 385Miscellaneous definitions.
  701. The Third Group of PartsMiscellaneous Matters Bearing on Both Company and Individual Insolvency; General Interpretation; Final Provisions
  702. Part XII: Preferential and non-preferential debts in Company and Individual Insolvency
  703. 386Categories of preferential debts.
  704. 387“The relevant date”.
  705. 387AFinancial institutions and their non-preferential debts
  706. Part XIII: Insolvency Practitioners and their Qualification
  707. Restrictions on unqualified persons acting as liquidator, trustee in bankruptcy, etc.
  708. 388Meaning of “act as insolvency practitioner”
  709. 389Acting without qualification an offence.
  710. 389AAuthorisation of nominees and supervisors. Repealed
  711. 389BOfficial receiver as nominee or supervisor
  712. 390Persons not qualified to act as insolvency practitioners.
  713. 390AAuthorisation
  714. 390BPartial authorisation: acting in relation to partnerships
  715. 391Recognised professional bodies
  716. 391AApplication for recognition as recognised professional body
  717. Regulatory objectives
  718. 391BApplication of regulatory objectives
  719. 391CMeaning of “regulatory functions” and “regulatory objectives”
  720. Oversight of recognised professional bodies
  721. 391DDirections
  722. 391EDirections: procedure
  723. 391FFinancial penalty
  724. 391GFinancial penalty: procedure
  725. 391HAppeal against financial penalty
  726. 391IRecovery of financial penalties
  727. 391JReprimand
  728. 391KReprimand: procedure
  729. Revocation etc of recognition
  730. 391LRevocation of recognition at instigation of Secretary of State
  731. 391MOrders under section 391L: procedure
  732. 391NRevocation of recognition at request of body
  733. Court sanction of insolvency practitioners in public interest cases
  734. 391ODirect sanctions orders
  735. 391PApplication for, and power to make, direct sanctions order
  736. 391QDirect sanctions order: conditions
  737. 391RDirect sanctions direction instead of order
  738. General
  739. 391SPower for Secretary of State to obtain information
  740. 391TCompliance orders
  741. The requisite qualification, and the means of obtaining it
  742. 392Authorisation by competent authority. Repealed
  743. 393Grant, refusal and withdrawal of authorisation. Repealed
  744. 394Notices. Repealed
  745. 395Right to make representations. Repealed
  746. 396Reference to Tribunal. Repealed
  747. 397Action of Tribunal on reference. Repealed
  748. 398Refusal or withdrawal without reference to Tribunal. Repealed
  749. Part XIV: Public Administration (England and Wales)
  750. Adjudicators
  751. 398AAppointment etc of adjudicators and assistants
  752. Official receivers
  753. 399Appointment, etc. of official receivers.
  754. 400Functions and status of official receivers.
  755. 401Deputy official receivers and staff.
  756. The Official Petitioner
  757. 402Official Petitioner.
  758. Insolvency Service finance, accounting and investment
  759. 403Insolvency Services Account.
  760. 404Investment Account.
  761. 405Application of income in Investment Account; adjustment of balances. Repealed
  762. 406Interest on money received by liquidators or trustees in bankruptcy and invested.
  763. 407Unclaimed dividends and undistributed balances.
  764. 408Adjustment of balances
  765. 409Annual financial statement and audit.
  766. Supplementary
  767. 410Extent of this Part.
  768. Part XV: Subordinate Legislation
  769. General insolvency rules
  770. 411Company insolvency rules.
  771. 412Individual insolvency rules (England and Wales).
  772. 413Insolvency Rules Committee.
  773. Fees orders
  774. 414Fees orders (company insolvency proceedings).
  775. 415Fees orders (individual insolvency proceedings in England and Wales).
  776. 415AFees orders (general)
  777. Specification, increase and reduction of money sums relevant in the operation of this Act
  778. 415BMonetary limits (company moratorium)
  779. 416Monetary limits (companies winding up).
  780. 417Money sum in s. 222.
  781. 417AMoney sums (company moratorium). Repealed
  782. 418Monetary limits (bankruptcy).
  783. Insolvency practice
  784. 419Regulations for purposes of Part XIII.
  785. Other order-making powers
  786. 420Insolvent partnerships.
  787. 421Insolvent estates of deceased persons.
  788. 421AInsolvent estates: joint tenancies.
  789. 422Formerly authorised banks.
  790. 422AMeaning of “relevant offence”
  791. Part XVI: Provisions Against Debt Avoidance (England and Wales only)
  792. 423Transactions defrauding creditors.
  793. 424Those who may apply for an order under s. 423.
  794. 425Provision which may be made by order under s. 423.
  795. Part XVII: Miscellaneous and General
  796. 426Co-operation between courts exercising jurisdiction in relation to insolvency.
  797. 426ADisqualification from Parliament (England and Wales and Northern Ireland)
  798. 426BDevolution
  799. 426CIrrelevance of privilege
  800. 427Disqualification from Parliament (Scotland ...)
  801. 428Exemptions from Restrictive Trade Practices Act.
  802. 429Disabilities on revocation of administration order against an individual.
  803. 430Provision introducing Schedule of punishments.
  804. 431Summary proceedings.
  805. 432Offences by bodies corporate.
  806. 433Admissibility in evidence of statements of affairs, etc.
  807. 434Crown application.
  808. Part 17A: SUPPLEMENTARY PROVISIONS
  809. 434AIntroductory
  810. 434BRepresentation of corporations in decision procedures and at meetings
  811. 434CLegal professional privilege
  812. 434DEnforcement of company's filing obligations
  813. 434EApplication of filing obligations to overseas companies
  814. Part XVIII: Interpretation
  815. 435Meaning of “associate”.
  816. 436Expressions used generally.
  817. 436AProceedings under EU Regulations: modified definition of property Repealed
  818. 436BReferences to things in writing
  819. Part XIX: Final Provisions
  820. 437Transitional provisions, and savings.
  821. 438Repeals.
  822. 439Amendment of enactments.
  823. 440Extent (Scotland).
  824. 441Extent (Northern Ireland).
  825. 442Extent (other territories).
  826. 443Commencement.
  827. 444Citation.
  828. Schedule ZA1: Moratorium: Eligible companies
  829. 1Eligible companies
  830. 2Companies subject to, or recently subject to, moratorium or an insolvency procedure
  831. 2APrivate registered providers of social housing
  832. 2BRegistered social landlord under Part 2 of the Housing (Scotland) Act 2010
  833. 3Insurance companies
  834. 4Banks
  835. 5Electronic money institutions
  836. 6Investment banks and investment firms
  837. 7Companies that are party to market contracts or subject to market charges, etc
  838. 8Participants in designated systems
  839. 9Payment institutions
  840. 10Operators of payment systems, infrastructure providers etc
  841. 11Recognised investment exchanges, clearing houses and CSDs
  842. 12Securitisation companies
  843. 13Parties to capital market arrangements
  844. 14Parties to capital market arrangements
  845. 15Public-private partnership project companies
  846. 16Public-private partnership project companies
  847. 17Public-private partnership project companies
  848. 18Overseas companies with corresponding functions
  849. 19Interpretation of Schedule
  850. 20Powers to amend Schedule
  851. 21Powers to amend Schedule
  852. 22Powers to amend Schedule
  853. Schedule ZA2: Moratorium: contract or other instrument involving financial services
  854. 1Introductory
  855. 2Financial contracts
  856. 3Securities financing transactions
  857. 4Derivatives
  858. 5Spot contracts
  859. 6Capital market investments
  860. 7Contracts forming part of a public-private partnership
  861. 8Market contracts
  862. 9Qualifying collateral arrangements and qualifying property transfers
  863. 10Contracts secured by certain charges or arrangements
  864. 11Default arrangements and transfer orders
  865. 12Card-based payment transactions
  866. 13Power to amend Schedule
  867. Schedule A1: Moratorium where directors propose voluntary arrangement Repealed
  868. Part ... Repealed
  869. Repealed
  870. Paragraph Repealed
  871. Repealed
  872. Paragraph Repealed
  873. Paragraph Repealed
  874. Paragraph Repealed
  875. Paragraph Repealed
  876. Paragraph Repealed
  877. Paragraph Repealed
  878. Paragraph Repealed
  879. Paragraph Repealed
  880. Paragraph Repealed
  881. Paragraph Repealed
  882. Paragraph Repealed
  883. Paragraph Repealed
  884. Paragraph Repealed
  885. Paragraph Repealed
  886. Paragraph Repealed
  887. Part Repealed
  888. Repealed
  889. Paragraph Repealed
  890. Repealed
  891. Paragraph Repealed
  892. Repealed
  893. Paragraph Repealed
  894. Repealed
  895. Paragraph Repealed
  896. Paragraph Repealed
  897. Repealed
  898. Paragraph Repealed
  899. Part Repealed
  900. Repealed
  901. Paragraph Repealed
  902. Paragraph Repealed
  903. Paragraph Repealed
  904. Repealed
  905. Paragraph Repealed
  906. Repealed
  907. Paragraph Repealed
  908. Repealed
  909. Paragraph Repealed
  910. Repealed
  911. Paragraph Repealed
  912. Paragraph Repealed
  913. Repealed
  914. Paragraph Repealed
  915. Paragraph Repealed
  916. Paragraph Repealed
  917. Repealed
  918. Paragraph Repealed
  919. Part Repealed
  920. Repealed
  921. Paragraph Repealed
  922. Repealed
  923. Paragraph Repealed
  924. Repealed
  925. Paragraph Repealed
  926. Paragraph Repealed
  927. Repealed
  928. Paragraph Repealed
  929. Part Repealed
  930. Repealed
  931. Paragraph Repealed
  932. Repealed
  933. Paragraph Repealed
  934. Repealed
  935. Paragraph Repealed
  936. Repealed
  937. Paragraph Repealed
  938. Paragraph Repealed
  939. Paragraph Repealed
  940. Repealed
  941. Paragraph Repealed
  942. Repealed
  943. Paragraph Repealed
  944. Repealed
  945. Paragraph Repealed
  946. Repealed
  947. Paragraph Repealed
  948. Repealed
  949. Paragraph Repealed
  950. Part Repealed
  951. Repealed
  952. Paragraph Repealed
  953. Repealed
  954. Paragraph Repealed
  955. Paragraph Repealed
  956. Repealed
  957. Paragraph Repealed
  958. Repealed
  959. Paragraph Repealed
  960. Repealed
  961. Paragraph Repealed
  962. Schedule B1: ADMINISTRATION
  963. ARRANGEMENT OF SCHEDULE
  964. Part: NATURE OF ADMINISTRATION
  965. 1Administration
  966. 2Paragraph 2
  967. 3Purpose of administration
  968. 4Paragraph 4
  969. 5Status of administrator
  970. 6General restrictions
  971. 7Paragraph 7
  972. 8Paragraph 8
  973. 9Paragraph 9
  974. Part: APPOINTMENT OF ADMINISTRATOR BY COURT
  975. 10Administration order
  976. 11Conditions for making order
  977. 12Administration application
  978. 13Powers of court
  979. Part: APPOINTMENT OF ADMINISTRATOR BY HOLDER OF FLOATING CHARGE
  980. 14Power to appoint
  981. 15Restrictions on power to appoint
  982. 16Paragraph 16
  983. 17Paragraph 17
  984. 18Notice of appointment
  985. 19Commencement of appointment
  986. 20Paragraph 20
  987. 21Invalid appointment: indemnity
  988. Part: APPOINTMENT OF ADMINISTRATOR BY COMPANY OR DIRECTORS
  989. 22Power to appoint
  990. 23Restrictions on power to appoint
  991. 24Paragraph 24 Repealed
  992. 25Paragraph 25
  993. 25AParagraph 25A
  994. 26Notice of intention to appoint
  995. 27Paragraph 27
  996. 28Paragraph 28
  997. 29Notice of appointment
  998. 30Paragraph 30
  999. 31Commencement of appointment
  1000. 32Paragraph 32
  1001. 33Paragraph 33
  1002. 34Invalid appointment: indemnity
  1003. Part: ADMINISTRATION APPLICATION – SPECIAL CASES
  1004. 35Application by holder of floating charge
  1005. 36Intervention by holder of floating charge
  1006. 37Application where company in liquidation
  1007. 38Paragraph 38
  1008. 39Effect of administrative receivership
  1009. Part: EFFECT OF ADMINISTRATION
  1010. 40Dismissal of pending winding-up petition
  1011. 41Dismissal of administrative or other receiver
  1012. 42Moratorium on insolvency proceedings
  1013. 43Moratorium on other legal process
  1014. 44Interim moratorium
  1015. 45Publicity
  1016. Part: PROCESS OF ADMINISTRATION
  1017. 46Announcement of administrator’s appointment
  1018. 47Statement of company’s affairs
  1019. 48Paragraph 48
  1020. 49Administrator’s proposals
  1021. 50Paragraph 50 Repealed
  1022. 51Consideration of administrator's proposals by creditors
  1023. 52Paragraph 52
  1024. 53Creditors' decision
  1025. 54Revision of administrator’s proposals
  1026. 55Failure to obtain approval of administrator’s proposals
  1027. 56Further creditors’ decisions
  1028. 57Creditors’ committee
  1029. 58Paragraph 58 Repealed
  1030. Part: FUNCTIONS OF ADMINISTRATOR
  1031. 59General powers
  1032. 60Paragraph 60
  1033. 60AParagraph 60A
  1034. 61Paragraph 61
  1035. 62Paragraph 62
  1036. 63Paragraph 63
  1037. 64Paragraph 64
  1038. 64ADistribution
  1039. 65Paragraph 65
  1040. 66Paragraph 66
  1041. 67General duties
  1042. 68Paragraph 68
  1043. 69Administrator as agent of company
  1044. 70Charged property: floating charge
  1045. 71Charged property: non-floating charge
  1046. 72Hire-purchase property
  1047. 73Protection for priority creditor
  1048. 74Challenge to administrator’s conduct of company
  1049. 75Misfeasance
  1050. Part: ENDING ADMINISTRATION
  1051. 76Automatic end of administration
  1052. 77Paragraph 77
  1053. 78Paragraph 78
  1054. 79Court ending administration on application of administrator
  1055. 80Termination of administration where objective achieved
  1056. 81Court ending administration on application of creditor
  1057. 82Public interest winding-up
  1058. 83Moving from administration to creditors’ voluntary liquidation
  1059. 84Moving from administration to dissolution
  1060. 85Discharge of administration order where administration ends
  1061. 86Notice to Companies Registrar where administration ends
  1062. Part: REPLACING ADMINISTRATOR
  1063. 87Resignation of administrator
  1064. 88Removal of administrator from office
  1065. 89Administrator ceasing to be qualified
  1066. 90Supplying vacancy in office of administrator
  1067. 91Paragraph 91
  1068. 92Paragraph 92
  1069. 93Paragraph 93
  1070. 94Paragraph 94
  1071. 95Paragraph 95
  1072. 96Substitution of administrator: competing floating charge-holder
  1073. 97Substitution of administrator appointed by company or directors: creditors’ decision
  1074. 98Vacation of office: discharge from liability
  1075. 99Vacation of office: charges and liabilities
  1076. Part: GENERAL
  1077. 100Joint and concurrent administrators
  1078. 101Paragraph 101
  1079. 102Paragraph 102
  1080. 103Paragraph 103
  1081. 104Presumption of validity
  1082. 105Majority decision of directors
  1083. 106Penalties
  1084. 107Extension of time limit
  1085. 108Paragraph 108
  1086. 109Paragraph 109
  1087. 110Amendment of provision about time
  1088. 111Interpretation
  1089. 111ANon-UK companies
  1090. 112Scotland
  1091. 113Paragraph 113
  1092. 114Paragraph 114
  1093. 115Paragraph 115
  1094. 116Paragraph 116
  1095. Schedule 1: Powers of Administrator or Administrative Receiver
  1096. 1Paragraph 1
  1097. 2Paragraph 2
  1098. 3Paragraph 3
  1099. 4Paragraph 4
  1100. 5Paragraph 5
  1101. 6Paragraph 6
  1102. 7Paragraph 7
  1103. 8Paragraph 8
  1104. 9Paragraph 9
  1105. 10Paragraph 10
  1106. 11Paragraph 11
  1107. 12Paragraph 12
  1108. 13Paragraph 13
  1109. 14Paragraph 14
  1110. 15Paragraph 15
  1111. 16Paragraph 16
  1112. 17Paragraph 17
  1113. 18Paragraph 18
  1114. 19Paragraph 19
  1115. 20Paragraph 20
  1116. 21Paragraph 21
  1117. 22Paragraph 22
  1118. 23Paragraph 23
  1119. Schedule 2: Powers of a Scottish Receiver (Additional to Those Conferred on him by the Instrument of Charge)
  1120. 1Paragraph 1
  1121. 2Paragraph 2
  1122. 3Paragraph 3
  1123. 4Paragraph 4
  1124. 5Paragraph 5
  1125. 6Paragraph 6
  1126. 7Paragraph 7
  1127. 8Paragraph 8
  1128. 9Paragraph 9
  1129. 10Paragraph 10
  1130. 11Paragraph 11
  1131. 12Paragraph 12
  1132. 13Paragraph 13
  1133. 14Paragraph 14
  1134. 15Paragraph 15
  1135. 16Paragraph 16
  1136. 17Paragraph 17
  1137. 18Paragraph 18
  1138. 19Paragraph 19
  1139. 20Paragraph 20
  1140. 21Paragraph 21
  1141. 22Paragraph 22
  1142. 23Paragraph 23
  1143. Schedule 2A: EXCEPTIONS TO PROHIBITION ON APPOINTMENT OF ADMINISTRATIVE RECEIVER: SUPPLEMENTARY PROVISIONS
  1144. 1Capital market arrangement
  1145. 2Capital market investment
  1146. 3Paragraph 3
  1147. 4“Agreement”
  1148. 5Debt
  1149. 6Step-in rights
  1150. 7Project company
  1151. 8“Resources”
  1152. 9“Public body”
  1153. 10Regulated business
  1154. 11“Person”
  1155. Schedule 3: Orders in Course of Winding Up Pronounced in Vacation (Scotland)
  1156. IOrders Which are to be Final
  1157. IIOrders Which are to take Effect Until Matter Disposed of by Inner House
  1158. Schedule 4: Powers of Liquidator in a Winding Up
  1159. Part I: ...
  1160. 1Paragraph 1
  1161. 2Paragraph 2
  1162. 3Paragraph 3
  1163. 3AParagraph 3A
  1164. Part II: ...
  1165. 4Paragraph 4
  1166. 5Paragraph 5
  1167. Part III: ...
  1168. 6Paragraph 6
  1169. 6AParagraph 6A Repealed
  1170. 7Paragraph 7
  1171. 8Paragraph 8
  1172. 9Paragraph 9
  1173. 10Paragraph 10
  1174. 11Paragraph 11
  1175. 12Paragraph 12
  1176. 13Paragraph 13
  1177. Schedule 4ZZA: Protection of supplies under section 233B: exclusions
  1178. Part 1: Essential supplies
  1179. 1Essential supplies
  1180. Part 2: Persons involved in financial services
  1181. 2Introductory
  1182. 3Insurers
  1183. 4Banks
  1184. 5Electronic money institutions
  1185. 6Investment banks and investment firms
  1186. 7Payment institutions
  1187. 8Operators of payment systems, infrastructure providers etc
  1188. 9Recognised investment exchanges etc
  1189. 10Securitisation companies
  1190. 11Overseas activities
  1191. Part 3: Contracts involving financial services
  1192. 12Introductory
  1193. 13Financial contracts
  1194. 14Securities financing transactions
  1195. 15Derivatives
  1196. 16Spot contracts
  1197. 17Capital market investments
  1198. 18Contracts forming part of a public-private partnership
  1199. Part 4: Other exclusions
  1200. 19Financial markets and insolvency
  1201. 20Set-off and netting
  1202. 21Aircraft equipment
  1203. Schedule 4ZA: Conditions for making a debt relief order
  1204. Part 1: Conditions which must be met
  1205. Connection with England and Wales
  1206. 1Paragraph 1
  1207. Debtor's previous insolvency history
  1208. 2Paragraph 2
  1209. 3Paragraph 3
  1210. 4Paragraph 4
  1211. 5Paragraph 5
  1212. Limit on debtor's overall indebtedness
  1213. 6Paragraph 6
  1214. Limit on debtor's monthly surplus income
  1215. 7Paragraph 7
  1216. Limit on value of debtor's property
  1217. 8Paragraph 8
  1218. Part 2: Other conditions
  1219. 9Paragraph 9
  1220. 10Paragraph 10
  1221. Schedule 4ZB: Debt relief restrictions orders and undertakings
  1222. Debt relief restrictions order
  1223. 1Paragraph 1
  1224. Grounds for making order
  1225. 2Paragraph 2
  1226. Timing of application for order
  1227. 3Paragraph 3
  1228. Duration of order
  1229. 4Paragraph 4
  1230. Interim debt relief restrictions order
  1231. 5Paragraph 5
  1232. 6Paragraph 6
  1233. Debt relief restrictions undertaking
  1234. 7Paragraph 7
  1235. 8Paragraph 8
  1236. 9Paragraph 9
  1237. Effect of revocation of debt relief order
  1238. 10Paragraph 10
  1239. Schedule 4ASchedule 4A
  1240. 1Bankruptcy restrictions order
  1241. 2Grounds for making order
  1242. 3Timing of application for order
  1243. 4Duration of order
  1244. 5Interim bankruptcy restrictions order
  1245. 6Paragraph 6
  1246. 7Bankruptcy restrictions undertaking
  1247. 8Paragraph 8
  1248. 9Paragraph 9
  1249. 10Effect of annulment of bankruptcy order
  1250. 11Paragraph 11
  1251. 12Registration
  1252. Schedule 5: Powers of Trustee in Bankruptcy
  1253. Part I: ...
  1254. 1Paragraph 1
  1255. 2Paragraph 2
  1256. 2AParagraph 2A
  1257. 3Paragraph 3
  1258. 4Paragraph 4
  1259. 5Paragraph 5
  1260. 6Paragraph 6
  1261. 7Paragraph 7
  1262. 8Paragraph 8
  1263. Part II: ...
  1264. 9Paragraph 9
  1265. 9AParagraph 9A
  1266. 9BParagraph 9B
  1267. 10Paragraph 10
  1268. 11Paragraph 11
  1269. 12Paragraph 12
  1270. 13Paragraph 13
  1271. Part III: ...
  1272. 14Paragraph 14
  1273. Schedule 6: The Categories of Preferential Debts
  1274. Category 1: Debts due to Inland Revenue
  1275. 1Paragraph 1
  1276. 2Paragraph 2
  1277. Category 2: Debts due to Customs and Excise
  1278. 3Paragraph 3
  1279. 3AParagraph 3A
  1280. 3BParagraph 3B
  1281. 3CParagraph 3C
  1282. 3DParagraph 3D
  1283. 4Paragraph 4
  1284. 5Paragraph 5
  1285. 5AParagraph 5A
  1286. 5BParagraph 5B
  1287. 5CParagraph 5C
  1288. Category 3: Social security contributions
  1289. 6Paragraph 6
  1290. 7Paragraph 7
  1291. Category 4: Contributions to occupational pension schemes, etc.
  1292. 8Paragraph 8
  1293. Category 5: Remuneration, etc., of employees
  1294. 9Paragraph 9
  1295. 10Paragraph 10
  1296. 11Paragraph 11
  1297. 12Paragraph 12
  1298. Interpertation for Category 5
  1299. 13Paragraph 13
  1300. 14Paragraph 14
  1301. 15Paragraph 15
  1302. Category 6: Levies on coal and steel production
  1303. 15AParagraph 15A
  1304. Category 6A: Debts owed to the Financial Services Compensation Scheme
  1305. 15AAParagraph 15AA
  1306. Category 7: Deposits covered by Financial Services Compensation Scheme
  1307. 15BParagraph 15B
  1308. Category 8: Other deposits
  1309. 15BAParagraph 15BA
  1310. 15BBParagraph 15BB
  1311. Interpretation for categories 6A, 7 and 8.
  1312. 15CParagraph 15C
  1313. Category 9: Certain HMRC debts
  1314. 15DParagraph 15D
  1315. Orders
  1316. 16Paragraph 16
  1317. Schedule 7: Insolvency Practitioners Tribunal Repealed
  1318. Panels of members Repealed
  1319. 1Paragraph 1 Repealed
  1320. Remuneration of members Repealed
  1321. 2Paragraph 2 Repealed
  1322. Sittings of Tribunal Repealed
  1323. 3Paragraph 3 Repealed
  1324. Procedure of Tribunal Repealed
  1325. 4Paragraph 4 Repealed
  1326. Schedule 8: Provisions Capable of Inclusion in Company Insolvency Rules
  1327. Courts
  1328. 1Paragraph 1
  1329. 2Paragraph 2
  1330. Notices, etc.
  1331. 3Paragraph 3
  1332. 4Paragraph 4
  1333. 5Paragraph 5
  1334. 5AParagraph 5A
  1335. Registration of voluntary arrangements
  1336. 6Paragraph 6
  1337. Provisional liquidator
  1338. 7Paragraph 7
  1339. Conduct of insolvency
  1340. 8Paragraph 8
  1341. 8AParagraph 8A
  1342. 9Paragraph 9
  1343. 9AParagraph 9A
  1344. 10Paragraph 10
  1345. 11Paragraph 11
  1346. 12Paragraph 12
  1347. 13Paragraph 13
  1348. 13AParagraph 13A
  1349. 14Paragraph 14
  1350. 14AParagraph 14A
  1351. 14BAdministration
  1352. Financial provisions
  1353. 15Paragraph 15
  1354. 16Paragraph 16
  1355. 16AParagraph 16A
  1356. 17Paragraph 17
  1357. 18Paragraph 18
  1358. 19Paragraph 19
  1359. Information and records
  1360. 20Paragraph 20
  1361. 21Paragraph 21
  1362. 22Paragraph 22
  1363. 23Paragraph 23
  1364. 24Paragraph 24
  1365. 25Paragraph 25
  1366. 26Paragraph 26
  1367. General
  1368. 27Paragraph 27
  1369. 28Paragraph 28
  1370. 29Paragraph 29
  1371. 30Paragraph 30
  1372. 31Paragraph 31
  1373. Schedule 9: Provisions Capable of Inclusion in Individual Insolvency Rules
  1374. Courts
  1375. 1Paragraph 1
  1376. 2Paragraph 2
  1377. 3Paragraph 3
  1378. 4Paragraph 4
  1379. Adjudicators
  1380. 4AParagraph 4A
  1381. 4BParagraph 4B
  1382. Appeals against determinations by adjudicators
  1383. 4CParagraph 4C
  1384. Notices, etc.
  1385. 5Paragraph 5
  1386. 6Paragraph 6
  1387. 7Paragraph 7
  1388. 7AParagraph 7A
  1389. Debt relief orders
  1390. 7AParagraph 7A
  1391. 7BParagraph 7B
  1392. 7CParagraph 7C
  1393. Debt relief restrictions orders and undertakings
  1394. 7DParagraph 7D
  1395. Register of debt relief orders and debt relief restrictions orders etc
  1396. 7EParagraph 7E
  1397. Registration of voluntary arrangements
  1398. 8Paragraph 8
  1399. 8AOfficial receiver acting on voluntary arrangement
  1400. Interim receiver
  1401. 9Paragraph 9
  1402. Receiver or manager
  1403. 10Paragraph 10 Repealed
  1404. Administration of individual insolvency
  1405. 11Paragraph 11
  1406. 11AParagraph 11A
  1407. 12Paragraph 12
  1408. 12AParagraph 12A
  1409. 13Paragraph 13
  1410. 14Paragraph 14
  1411. 15Paragraph 15
  1412. 16Paragraph 16
  1413. 17Paragraph 17
  1414. 18Paragraph 18
  1415. 18AParagraph 18A
  1416. 19Paragraph 19
  1417. Financial provisions
  1418. 20Paragraph 20
  1419. 21Paragraph 21
  1420. 21AParagraph 21A
  1421. 22Paragraph 22
  1422. 23Paragraph 23
  1423. Information and records
  1424. 24Paragraph 24
  1425. 24AParagraph 24A
  1426. 24BParagraph 24B
  1427. 24CParagraph 24C
  1428. 24DParagraph 24D
  1429. 25Paragraph 25
  1430. 26Paragraph 26
  1431. 27Paragraph 27
  1432. 28Paragraph 28
  1433. 29Paragraph 29
  1434. 29ABankruptcy restrictions orders and undertakings
  1435. General
  1436. 30Paragraph 30
  1437. 31Paragraph 31
  1438. 32Paragraph 32
  1439. 33Paragraph 33
  1440. Schedule 10: Punishment of Offences under this Act
  1441. Paragraph
  1442. Schedule 11: Transitional Provisions and Savings
  1443. Part I: Company Insolvency and Winding Up
  1444. Administration orders
  1445. 1Paragraph 1
  1446. Receivers and managers (England and Wales)
  1447. 2Paragraph 2
  1448. Receivers (Scotland)
  1449. 3Paragraph 3
  1450. Winding up already in progress
  1451. 4Paragraph 4
  1452. Statement of affairs
  1453. 5Paragraph 5
  1454. Provisions relating to liquidator
  1455. 6Paragraph 6
  1456. Winding up under supervision of the court
  1457. 7Paragraph 7
  1458. Saving for power to make rules
  1459. 8Paragraph 8
  1460. Setting aside of preferences and other transactions
  1461. 9Paragraph 9
  1462. Part II: Individual Insolvency
  1463. Bankruptcy (general)
  1464. 10Paragraph 10
  1465. 11Paragraph 11
  1466. 12Paragraph 12
  1467. Discharge from old bankruptcy
  1468. 13Paragraph 13
  1469. Provisions relating to trustee
  1470. 14Paragraph 14
  1471. Copyright
  1472. 15Paragraph 15
  1473. Second bankruptcy
  1474. 16Paragraph 16
  1475. Setting aside of preferences and other transactions
  1476. 17Paragraph 17
  1477. Bankruptcy offences
  1478. 18Paragraph 18
  1479. Power to make rules
  1480. 19Paragraph 19
  1481. Part III: Transitional Effect of Part XVI
  1482. 20Paragraph 20
  1483. Part IV: Insolvency Practitioners
  1484. 21Paragraph 21
  1485. Part V: General Transitional Provisions and Savings
  1486. Interpretation for this Part
  1487. 22Paragraph 22
  1488. General saving for past acts and events
  1489. 23Paragraph 23
  1490. Periods of time
  1491. 24Paragraph 24
  1492. Internal cross-references in this Act
  1493. 25Paragraph 25
  1494. Punishment of offences
  1495. 26Paragraph 26
  1496. References elsewhere to the former enactments
  1497. 27Paragraph 27
  1498. Saving for power to repeal provisions in section 51
  1499. 28Paragraph 28
  1500. Saving for Interpretation Act 1978 ss. 16, 17
  1501. 29Paragraph 29
  1502. Schedule 12Enactments Repealed
  1503. Schedule 13: Consequential Amendments of Companies Act 1985
  1504. IInternal and Other Section References Amended or Re-amended
  1505. Part II: Amendement of Part XXVI (Interpretation)
  1506. Paragraph
  1507. Schedule 14Consequential Amendments of other Enactments