Rule 1.1 Scope of this Part; interpretationI1

England and Wales

(1)

The Rules in this Part apply where, pursuant to Part I of the Act, it is intended to make, and there is made, a proposal to a company and its creditors for a voluntary arrangement, that is to say, a composition in satisfaction of its debts or a scheme of arrangement of its affairs.

(2)

In this Part—

F1(a)

Chapter 2 applies where the proposal for the voluntary arrangement is made by the directors of the company and

(i)

the company is neither in liquidation nor is F2the company in administration; and

(ii)

no steps have been taken to obtain a moratorium under Schedule A1 to the Act in connection with the proposal;

(b)

Chapter 3 applies where the company is in liquidation or F3the company is in administration, and the proposal is made by the liquidator or (as the case may be) the administrator, he in either case being the nominee for the purposes of the proposal;

F4(c)

Chapter 4 applies in the same case as Chapter 3, but where the nominee is not the liquidator or administrator;

(d)

Chapter 5 applies in all the three cases mentioned in sub-paragraphs (a) to (c) above;

(e)

Chapters 7 and 8 apply to all voluntary arrangements with or without a moratorium; and

(f)

Chapter 9 applies where the proposal is made by the directors of an eligible company with a view to obtaining a moratorium.

(3)

In Chapters 3, 4 and 5, the liquidator or the administrator is referred to as “the responsible insolvency practitioner”.

F5(4)

In this Part, a reference to an “eligible company” is to a company that is eligible for a moratorium in accordance with paragraph 2 of Schedule A1 to the Act.

Annotations

Textual amendments

F1: Rule 1.1(2)(a) substituted (1.1.2003) by The Insolvency (Amendment) (No. 2) Rules 2002 (S.I. 2002/2712), rule 1(1), Sch. para. 1(a) (with rule 3(2))
F2: Words in rule 1.1(2)(a)(i) substituted (15.9.2003) by The Insolvency (Amendment) Rules 2003 (S.I. 2003/1730), rule 1(2), Sch. 1 para. 1(a)
F3: Words in rule 1.1(2)(b) substituted (15.9.2003) by The Insolvency (Amendment) Rules 2003 (S.I. 2003/1730), rule 1(2), Sch. 1 para. 1(b)
F4: Rule 1.1(2)(c)-(f) substituted for rule 1.1(c)(d) (1.1.2003) by The Insolvency (Amendment) (No. 2) Rules 2002 (S.I. 2002/2712), rule 1(1), Sch. para. 1(b) (with rule 3(2))
F5: Rule 1.1(4) inserted (1.1.2003) by The Insolvency (Amendment) (No. 2) Rules 2002 (S.I. 2002/2712), rule 1(1), Sch. para. 1(c) (with rule 3(2))

Commencement

I1: Rule 1.1 in force at 29.12.1986, see rule 0.1