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The Insolvency (Amendment) Regulations 2011

S.I. 2011/2203 · Made 5 September 2011

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.

Insolvency

Companies

Made 5th September 2011

Laid before Parliament 8th September 2011

Coming into force 1st October 2011

The Secretary of State, in exercise of the powers conferred upon him by Rule 12.1 of the Insolvency Rules 1986f1 and section 411 of, and paragraph 27 of Schedule 8 to, the Insolvency Act 1986f2 hereby makes the following Regulations:

Annotations to the whole text

Footnotes

f1

S.I. 1986/1925, amended by S.I. 1987/1919; there are other amending instruments but none is relevant.

f2

1986 c.45.

Contents

  1. 1Citation, commencement and interpretation
  2. 2Citation, commencement and interpretation
  3. 3Amendments to the principal Regulations
  4. 4Transitional Provisions
  5. 5Revocation
  6. Signature
  7. Schedule: AMENDMENTS TO THE INSOLVENCY REGULATIONS 1994
  8. 1Amendments to Regulation 5
  9. 2Amendments to Regulation 7
  10. 3Amendments to Regulation 7
  11. 4Amendments to Regulation 7
  12. 5Amendments to Regulation 8
  13. 6Amendments to Regulation 8
  14. 7Amendments to Regulation 8
  15. 8Amendment to Regulation 9
  16. 9Amendment to Regulation 10
  17. 10Amendment to Regulation 17
  18. 11Amendment to Regulation 17
  19. Explanatory note

1Citation, commencement and interpretation

These Regulations may be cited as the Insolvency (Amendment) Regulations 2011 and shall come into force on 1st October 2011.

2Citation, commencement and interpretation

In these Regulations “the principal Regulations” means the Insolvency Regulations 1994f1 and a reference in these Regulations to a numbered regulation is to the regulation so numbered in the principal Regulations.

3Amendments to the principal Regulations

The principal Regulations are amended in accordance with the Schedule to these Regulations.

4Transitional Provisions

The amendments made by this Order do not apply in relation to any voluntary winding up where a payment has been made into the Insolvency Services Account in relation to that winding up before 1st October 2011.

5Revocation

Paragraph 1 of the Schedule to the Insolvency (Amendment) Regulations 2004f1 is revoked.

Signature

Edward Davey

Minister of State for Employment Relations, Consumer and Postal Affairs

Department for Business, Innovation and Skills

5th September 2011

1Amendments to Regulation 5

Omit Regulation 5(2).

2Amendments to Regulation 7

In Regulation 7(A1), for “to (3)” substitute “and (2)”.

3Amendments to Regulation 7

Omit Regulation 7(3).

4Amendments to Regulation 7

In Regulation 7(3A), for “paragraphs (1) to (3)” substitute “paragraph (1) or (2)”.

5Amendments to Regulation 8

In Regulation 8(A1), for “to (3)” substitute “and (2)”.

6Amendments to Regulation 8

Omit Regulation 8(3).

7Amendments to Regulation 8

In Regulation 8(3A), for “paragraphs (1) to (3)” substitute “paragraph (1) or (2)”.

8Amendment to Regulation 9

Omit Regulation 9(8).

9Amendment to Regulation 10

In Regulation 10(2), omit “(including, in the case of a voluntary winding up, those relating to the Insolvency Services Account)”.

10Amendment to Regulation 17

In Regulation 17(1), omit from “and such other particulars” to the end.

11Amendment to Regulation 17

Omit Regulation 17(2).

Explanatory note

(This note is not part of these Regulations)

These Regulations amend the Insolvency Regulations 1994. The effect of these Regulations is to prevent the payment of monies into the Insolvency Services Account in relation to a voluntary winding up. This is achieved through the omission of Regulation 5(2) of the 1994 Regulations (See paragraph 1 of the Schedule to these Regulations). However, where payments have already been made into the Insolvency Services Account in relation to a voluntary winding up before 1st October 2011, payments may continue to be made into and out of the Insolvency Services Account in relation to that winding up (See Regulation 4 of these Regulations).

Regulations 7 to 10 and 17 of the 1994 Regulations are amended (see paragraphs 2 to 11 of these Regulations) in consequence of the omission of Regulation 5(2).

A full impact assessment of the effect that this instrument will have on the costs of business and the voluntary sector is available from the Policy Unit, The Insolvency Service, 21 Bloomsbury Street, London WC1B 3QW and is published with the Explanatory Memorandum alongside the instrument on www.legislation.gov.uk.