Rule 12.3 Provable debtsI1

England and Wales

(1)

Subject as follows, F1in administration, winding up and bankruptcy, all claims by creditors are provable as debts against the company or, as the case may be, the bankrupt, whether they are present or future, certain or contingent, ascertained or sounding only in damages.

(2)

The following are not provable—

(a)

in bankruptcy, any fine imposed for an offence, and any obligation F2(other than an obligation to pay a lump sum or to pay costs)” and after the words “family proceedings or any obligation arising arising under an order made in family F3... proceedings F4or under a maintenance assessment made under the Child Support Act 1991;

(b)

in F5administration, winding up or bankruptcy, any obligation arising under a confiscation order made under section 1 of the Drug Trafficking Offences Act 1986 F6or section 1 of the Criminal Justice (Scotland) Act 1987 F7or section 71 of the Criminal Justice Act 1988.

“Fine”F8...and “family proceedings” have the meanings given by section 281(8) of the Act (which applies the Magistrates' Courts Act 1980 and the Matrimonial and Family Proceedings Act 1984).

F9(2A)

The following are not provable except at a time when all other claims of creditors in the insolvency proceedings (other than any of a kind mentioned in this paragraph) have been paid in full with interest under section 189(2) F10, Rule 2.88 or, as the case may be, section 328(4)—

(F11a)

in F12an administration, a winding up or a bankruptcy, any claim arising by virtue of section 382(1)(a) of the Financial Services and Markets Act 2000, not being a claim also arising by virtue of section 382(1)(b) of that Act;

(c)

in F13an administration or a winding up, any claim which by virtue of the Act or any other enactment is a claim the payment of which in a bankruptcy F14, an administration or a winding up is to be postponed.

(3)

Nothing in this Rule prejudices any enactment or rule of law under which a particular kind of debt is not provable, whether on grounds of public policy or otherwise.

Annotations

Textual amendments

F1: Words in rule 12.3(1) substituted (15.9.2003) by The Insolvency (Amendment) Rules 2003 (S.I. 2003/1730), rule 1(2), Sch. 1 para. 62(a)
F2: Words in rule 12.3(2)(a) inserted (1.4.2005) by The Insolvency (Amendment) Rules 2005 (S.I. 2005/527), rules 1(2), 44 (with rule 3(1))
F3: Words in rule 12.3(2)(a) omitted (5.4.1993) by The Insolvency (Amendment) Rules 1993 (S.I. 1993/602), rule 1, Sch. para. 2
F4: Words in rule 12.3(2)(a) added (5.4.1993) by The Insolvency (Amendment) Rules 1993 (S.I. 1993/602), rule 1, Sch. para. 2
F5: Words in rule 12.3(2)(b) inserted (15.9.2003) by The Insolvency (Amendment) Rules 2003 (S.I. 2003/1730), rule 1(2), Sch. 1 para. 62(b)
F6: Words in rule 12.3(2)(b) added (11.1.1988 with application in accordance with rule 3(1)(2)) by The Insolvency (Amendment) Rules 1987 (S.I. 1987/1919), rule 1, Sch. para. 143(1)
F7: Words in rule. 12.3(2)(b) added (3.4.1989 with application in accordance with rule. 3(2)) by The Insolvency (Amendment) Rules 1989 (S.I. 1989/397), rule 1, Sch. para. 2
F8: Words in rule 12.3(2) omitted (5.4.1993) by The Insolvency (Amendment) Rules 1993 (S.I. 1993/602), rule. 1, Sch. para. 3
F9: Rule 12.3(2A) inserted (11.1.1988 with application in accordance with rule 3(1)(2)) by The Insolvency (Amendment) Rules 1987 (S.I. 1987/1919), rule 1, Sch. para. 143(2)
F10: Words in rule 12.3(2A) inserted (15.9.2003) by The Insolvency (Amendment) Rules 2003 (S.I. 2003/1730), rule 1(2), Sch. 1 para. 62(c)
F11: Rule 12.3(2A)(a) substituted (1.12.2001) for rule 12.3(2A)(a)(b) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 380
F12: Words in rule 12.3(2A)(a) inserted (15.9.2003) by The Insolvency (Amendment) Rules 2003 (S.I. 2003/1730), rule 1(2), Sch. 1 para. 62(d)
F13: Words in rule 12.3(2A)(c) inserted (15.9.2003) by The Insolvency (Amendment) Rules 2003 (S.I. 2003/1730), rule 1(2), Sch. 1 para. 62(e)
F14: Word in rule 12.3(2A)(c) inserted (15.9.2003) by The Insolvency (Amendment) Rules 2003 (S.I. 2003/1730), rule 1(2), Sch. 1 para. 62(e)

Commencement

I1: Rule 12.3 in force at 29.12.1986, see rule 0.1