The Insolvency (Northern Ireland) Order 1989
1989/2405 · Made 19 December 1989 · Extends to Northern Ireland
19th December 1989
Annotations to the whole text
Modifications
- C1
Order modified (1.1.2007) by Water and Sewerage Services (Northern Ireland) Order 2006 (S.I. 2006/3336 (N.I. 21)), arts. 1(3)(e), 271(5) (with arts. 8(8), 121(3), 307)
- C2
Order modified (8.1.2007) by S.R. 1995/225 (as amended by Insolvent Partnerships (Amendment) Order (Northern Ireland) 2006 (S.R. 2006/515), art. 4 (with art. 2))
- C3
Order: power to amend conferred (27.3.2006) by Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10)), arts. 1(3), 21(2) (with art. 4); S.R. 2006/21, art. 2 (with S.R. 2006/22, arts. 2-7)
- C4
Order applied (with modifications) (6.4.2008) by Serious Crime Act 2007 (c. 27), ss. 28(2)-(4), 94(1); S.I. 2008/755, art. 15(1)(f)
- C5
Order modified (1.8.2007) by European Grouping of Territorial Cooperation Regulations 2007 (S.I. 2007/1949), reg. 7, Sch. Pt. 2
- C6
Order applied (with modifications) (12.4.2007) by Cross-Border Insolvency Regulations (Northern Ireland) 2007 (S.R. 2007/115), reg. 4
- C7
Order excluded (6.4.2009) by Energy Act 2008 (c. 32), ss. 56(5), 110(2); S.I. 2009/45, art. 4(b)(i)
- C8
Order excluded (26.1.2009) by 1998 (c.17), s. 38A(6) (as inserted by Energy Act 2008 (c. 32), ss. 74, 110(2)); S.I. 2009/45, art. 2(b)(i)
- C9
Order applied in part (with modifications) (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2009 (c. 1), ss. 103, 134, 263(1) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch.
- C10
Order applied (with modifications) (1.10.2009) by Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12)), art. 68(1)(2) (as substituted by Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), arts. 2(1), 8, Sch. 1 para. 66 (with art. 10))
- C11
Order applied (with modifications) (23.11.2009) by Scottish and Northern Ireland Banknote Regulations 2009 (S.I. 2009/3056), reg. 29, Sch. 1 para. 2
- C12
Order applied (with modifications) (8.2.2011) by Investment Bank Special Administration Regulations 2011 (S.I. 2011/245), regs. 1, 8(7), 9, 15, 16-21, 24-26, Schs. 1-5
- C13
Order modified (1.10.2011) by Postal Services Act 2011 (c. 5), ss. 73(1), 87(1)(2), 93(3), Sch. 10 para. 40, Sch. 10 para. 41; S.I. 2011/2329, art. 3(1)
- C14
Order power to modify conferred (1.10.2011) by Postal Services Act 2011 (c. 5), ss. 73(1), 87(1)(2), 93(3), Sch. 10 para. 46; S.I. 2011/2329, art. 3(1)
- C15
Order applied in part (with modifications) (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2009 (c. 1), ss. 145, 167, 263(1) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch.
- C16
Order power to amend conferred (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2009 (c. 1), ss. 158(2)(b), 159(2)(b), 263(1) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch.
- C17
Order applied (with modifications) (1.10.2009) by Industrial and Provident Societies Act (Northern Ireland) 1969 (c. 24), s. 64(1)(2) (as substituted by S.I. 2009/1941, arts. 2(1), 8, Sch. 1 para. 21(8) (with art. 10))
- C18
Order applied (with modifications) (31.7.2015) by The European Grouping of Territorial Cooperation Regulations 2015 (S.I. 2015/1493), regs. 1(2), 8(2) (with reg. 11)
- C19
Order applied in part (with modifications) in part (7.4.2017) by Building Societies Act 1986 (1986 c. 53), Sch. 15 (as amended by S.I. 2017/400, regs. 1(2), 2(3)(e)-(g))
- C20
Order applied in part (with modifications) (7.4.2017) by Building Societies Act 1986 (1986 c. 53), Sch. 15A (as amended by S.I. 2017/400, regs. 1(2), 2(4)(e)(f))
- C21
Order applied in part (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) S.I. 2017/400, regs. 1(2), 11(3))
- C22
Order modified (3.10.2017) by 1992 c. 40, Sch. 10 paras. 66A, 66B (as inserted by The Friendly Societies Act 1992 (Modification of Part 2) (Northern Ireland) Order 2017 (S.I. 2017/906), arts. 1, 2)
- C23
Order modified by S.I. 2002/3150 (N.I. 4), art. 25C(4)(f) (as inserted (8.12.2017) by The Risk Transformation Regulations 2017 (S.I. 2017/1212), reg. 1(2), Sch. 4 para. 5 (with reg. 189))
- C24
Order 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)
- C25
Order applied (with modifications) (8.2.2011) by Investment Bank Special Administration Regulations 2011 (S.I. 2011/245), regs. 1, 8(7), 9, 15, 16-21, 24-26, Schs. 1-5 (as amended (7.4.2017) by S.I. 2017/400, regs. 1(2), 10(8); (19.12.2018) by S.I. 2018/1244, arts. 1(2), 46 (with art. 3))
- C26
Order applied in part (with modifications) (26.6.2020) by 1992 c. 40, Sch. 10 Pt. 3 (as amended by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 13 para. 4 (with ss. 2(2), 5(2), 18(4)))
- C27
Order applied in part (with modifications) (26.6.2020) by 1986 c. 53, Sch. 15 Pt. 3 (as amended by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 13 para. 2 (with ss. 2(2), 5(2), 18(4)))
- C28
Order applied in part (with modifications) (26.6.2020) by 1986 c. 53, Sch. 15A Pt. 3 (as amended by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 13 para. 3 (with ss. 2(2), 5(2), 18(4)))
- C29
Order modified (24.2.2022) by Finance Act 2022 (c. 3), s. 85
- C30
Order 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)
- C31
Order applied in part (with modifications) (4.1.2024) by S.I. 2021/716, Sch. 2A para. 6 (as inserted by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), reg. 1(2), Sch. 2)
- C32
Order modified (2.3.2026) by The Payment and Electronic Money Institution Insolvency (Northern Ireland) Rules 2026 (S.R. 2026/11), rules 2(1), 293
Contents
- Part I: INTRODUCTORY
- 1Title and commencement
- 2General interpretation
- 2AProceedings under EU Regulation: modified definition of property Repealed
- 3“Act as insolvency practitioner”
- 4“Associate”
- Interpretation for Parts 1A to 7
- 5Interpretation
- 6“Insolvency” and“go into liquidation”
- 7“Connected with a company”
- 8“Member of a company”
- Parts 7A to 10
- 9Interpretation
- 10“Security”, etc.
- 11“Bankrupt's estate”
- Interpretation for this Order . . .
- 12“Receiver or manager”
- 13“Contributory”
- s 1A to 7COMPANY INSOLVENCY; COMPANIES WINDING UP
- Part 1A: Moratorium
- Chapter 1: Introductory
- 13AOverview
- 13AAEligible companies
- Chapter 2: Obtaining a moratorium
- 13BObtaining a moratorium by filing documents at High Court
- 13BAObtaining a moratorium for company subject to winding-up petition
- 13BBObtaining a moratorium for other overseas companies
- 13BCThe relevant documents
- 13BDBeginning of moratorium and appointment of monitor
- 13BEObligations to notify where moratorium comes into force
- Chapter 3: Length of moratorium
- Initial period
- 13CEnd of the moratorium
- Extension of moratorium
- 13CAExtension by directors without creditor consent
- 13CBExtension by directors with creditor consent
- 13CCCreditor consent for the purposes of Article 13CB
- 13CDExtension by High Court on application of directors
- 13CEExtension while proposal for CVA pending
- 13CFExtension by High Court in the course of other proceedings
- Early termination on certain grounds
- 13CGCompany enters into insolvency procedure etc
- Obligations to notify change in end of moratorium
- 13CHObligations to notify change in end of moratorium
- Chapter 4: Effects of moratorium
- Introductory
- 13DOverview and construction of references to payment holidays
- Publicity about moratorium
- 13DAPublicity about moratorium
- Effect on creditors etc
- 13DBRestrictions on insolvency proceedings etc
- 13DCRestrictions on enforcement and legal proceedings
- 13DDFloating charges
- 13DEEnforcement of security granted during moratorium
- Notification of insolvency proceedings
- 13DFDuty of directors to notify monitor of insolvency proceedings etc
- Restrictions on transactions
- 13DGRestrictions on obtaining credit
- 13DHRestrictions on grant of security etc
- 13DIProhibition on entering into market contracts etc
- Restrictions on payments and disposal of property
- 13DJRestrictions on payment of certain pre-moratorium debts
- 13DKRestrictions on disposal of property
- 13DLRestrictions on disposal of hire-purchase property
- Disposals of property free from charges etc
- 13DMDisposal of charged property free from charge
- 13DNDisposal of hire-purchase property
- Effect of contravention of certain provisions of Chapter
- 13DOContravention of certain requirements imposed under this Chapter
- Chapter 5: The monitor
- 13EStatus of monitor
- 13EAMonitoring
- 13EBProvision of information to monitor
- 13ECApplication by monitor for directions
- 13EDTermination of moratorium by monitor
- 13EEReplacement of monitor or appointment of additional monitor
- 13EFApplication of Part where two or more persons act as monitor
- 13EGPresumption of validity
- Chapter 6: Challenges
- 13FChallenge to monitor’s actions
- 13FAChallenges to monitor remuneration in insolvency proceedings
- 13FBChallenge to directors’ actions
- 13FCChallenge brought by Board of the Pension Protection Fund
- Chapter 7: Offences: general
- 13GOffence of fraud etc during or in anticipation of moratorium
- 13GAOffence of false representation etc to obtain a moratorium
- 13GBProsecution of delinquent officers of company
- Chapter 8: Miscellaneous and general
- Special rules for certain kinds of company etc
- 13HRegulated companies: modifications to this Part
- 13HAPower to modify this Part etc in relation to certain companies
- 13HBPower to make provision in connection with pension schemes
- Floating charges
- 13HCVoid provisions in floating charge documents
- Interpretation of this Part
- 13HDMeaning of “pre-moratorium debt” and “moratorium debt”
- 13HEInterpretation of this Part: general
- Regulations
- 13HFRegulations
- Part II: COMPANY VOLUNTARY ARRANGEMENTS
- The proposal
- 14Those who may propose an arrangement
- 14AMoratorium Repealed
- 15Procedure where nominee is not the liquidator or administrator
- 16Summoning of meetings
- Consideration and implementation of proposal
- 17Decisions of meetings
- 17AApproval of arrangement
- 18Effect of approval
- 19Challenge of decisions
- 19AFalse representations, etc.
- 20Implementation of proposal
- 20AProsecution of delinquent officers of company
- 20BArrangements coming to an end prematurely
- Part III: ADMINISTRATION
- 21Administration
- Part III: ADMINISTRATION ORDERS
- Making, etc., of administration order
- 22Application for order
- 23Effect of application
- 24Effect of order
- 25Notification of order
- Administrators
- 26Appointment of administrator
- 27General powers
- 28Power to deal with charged property, etc.
- 29General duties
- 30Discharge or variation of administration order
- 31Vacation of office
- 32Release of administrator
- Ascertainment and investigation of company's affairs
- 33Information to be given by administrator
- 34Statement of affairs to be submitted to administrator
- Administrator's proposals
- 35Statement of proposals
- 36Consideration of proposals by creditors' meeting
- 37Approval of substantial revisions
- Miscellaneous
- 38Creditors' committee
- 39Protection of interests of creditors and members
- Part IV: RECEIVERSHIP
- General Provisions
- 39AMeaning of “company”
- 40Disqualification of body corporate from acting as receiver
- 41Disqualification of bankrupt
- 42Power of High Court to appoint official receiver
- Receivers and managers appointed out of court
- 43Time from which appointment is effective
- 44Liability for invalid appointment
- 45Application to High Court for directions
- 46Power of High Court to fix remuneration
- 47Liability for contracts, etc.
- 48Receivership accounts to be delivered to registrar
- Provisions applicable to every receivership
- 49Notification that receiver or manager appointed
- 50Payment of debts out of assets subject to floating charge
- 51Enforcement of duty to make returns
- Administrative receivers: general
- 52General powers
- 53Power to dispose of charged property, etc.
- 54Agency and liability for contracts
- 55Vacation of office
- Administrative receivers: ascertainment and investigation of company's affairs
- 56Information to be given by administrative receiver
- 57Statement of affairs to be submitted
- 58Report by administrative receiver
- 59Committee of creditors
- Prohibition of appointment of administrative receiver
- 59AFloating charge holder not to appoint administrative receiver
- 59BFirst exception: capital market
- 59CSecond exception: public-private partnership
- 59DThird exception: utilities
- 59EFourth exception: urban regeneration projects
- 59FFifth exception: project finance
- 59GSixth exception: financial market
- 59HSeventh exception: registered housing association
- 59IEighth exception: licence companies
- 59JArticles 59A to 59I: supplementary
- Part V: WINDING UP OF COMPANIES REGISTERED UNDER the Companies Act 2006
- Chapter I: PRELIMINARY
- Introductory
- 60Scheme of this Part
- Contributories
- 61Liability as contributories of present and past members
- 62Directors with unlimited liability Repealed
- 63Liability of past directors and shareholders
- 64Limited company formerly unlimited
- 65Unlimited company formerly limited
- 66Nature of contributory's liability
- 67Contributories in case of death of a member
- 68Effect of contributory's bankruptcy
- 69Companies registered but not formed under the Companies Act 2006
- Chapter II: VOLUNTARY WINDING UP (INTRODUCTORY AND GENERAL)
- Resolutions for, and commencement of, voluntary winding up
- 70Circumstances in which company may be wound up voluntarily
- 71Notice of resolution to wind up voluntarily
- 72Commencement of voluntary winding up
- Consequences of resolution to wind up
- 73Effect on business and status of company
- 74Avoidance of share transfers, etc., after winding‐up resolution
- Declaration of solvency
- 75Statutory declaration of solvency
- 76Distinction between “members'” and “creditors'” voluntary winding up
- Chapter III: MEMBERS' VOLUNTARY WINDING UP
- 77Appointment of liquidator
- 78Power to fill vacancy in office of liquidator
- 79General company meeting at each year's end
- 80Final meeting prior to dissolution
- 81Effect of company's insolvency
- 82Conversion to creditors' voluntary winding up
- Chapter IV: CREDITORS' VOLUNTARY WINDING UP
- 83Application of this Chapter
- 84Meeting of creditors
- 85Directors to lay statement of affairs before creditors
- 86Appointment of liquidator
- 87Appointment of liquidation committee
- 88Creditors' meeting where winding up converted under Article 82
- 89Cesser of directors' powers
- 90Vacancy in office of liquidator
- 91Meetings of company and creditors at each year's end
- 92Final meeting prior to dissolution
- Chapter V: PROVISIONS APPLYING TO BOTH KINDS OF VOLUNTARY WINDING UP
- 93Distribution of company's property
- 94Appointment or removal of liquidator by the High Court
- 95Notice by liquidator of his appointment
- 96Acceptance of shares, etc., as consideration for sale of company's property
- 97Dissent from arrangement under Article 96
- 98Reference of questions to the High Court
- 99No liquidator appointed or nominated by company
- 100Expenses of voluntary winding up
- 101Saving for certain rights
- Chapter VI: WINDING UP BY THE HIGH COURT
- Grounds and effect of winding‐up petition
- 102Circumstances in which company may be wound up by the High Court
- 103Definition of inability to pay debts; the statutory demand
- 104Application for winding up
- 104APetition for winding up on grounds of public interest
- 104BPetition for winding up of SE
- 104CPetition for winding up of SCE
- 105Powers of High Court on hearing of petition
- 106Power to stay or restrain proceedings against company
- 107Avoidance of property dispositions, etc.
- 108Avoidance of sequestration or distress
- Commencement of winding up
- 109Commencement of winding up by the High Court
- 110Consequences of winding‐up order
- Investigation procedures
- 111Company's statement of affairs
- 112Investigation by official receiver
- 113Public examination of officers
- 114Enforcement of Article 113
- Appointment of liquidator
- 115Appointment and powers of provisional liquidator
- 116Functions of official receiver in relation to office of liquidator
- 117Appointment by Department
- 118Choice of liquidator at meetings of creditors and contributories
- 119Appointment by the High Court following administration or voluntary arrangement
- Liquidation committees
- 120Liquidation committee
- The liquidator's functions
- 121General functions in winding up by the High Court
- 122Custody of company's property
- 123Vesting of company property in liquidator
- 124Duty to summon final meeting
- 124AOfficial receiver’s duty to send statement to registrar about other proceedings— Repealed
- General powers of High Court
- 125Power to stay winding up
- 126Settlement of list of contributories and application of assets
- 127Debts due from contributory to company
- 128Power to make calls
- 129Payment into bank of money due to company
- 130Order on contributory to be conclusive evidence
- 131Power to exclude creditors not proving in time
- 132Adjustment of rights of contributories
- 133Inspection of books by creditors, etc.
- 134Payment of expenses of winding up
- 135Power to arrest absconding contributory
- 136Powers of High Court to be cumulative
- 137Delegation of powers to liquidator
- Chapter VII: LIQUIDATORS
- Preliminary
- 138Style and title of liquidators
- 139Corrupt inducement affecting appointment
- Liquidator's powers and duties
- 140Voluntary winding up
- 141Creditors' voluntary winding up
- 142Winding up by the High Court
- 143Supplementary powers
- 144Enforcement of liquidator's duty to make returns, etc.
- Removal: vacation of office
- 145Removal, etc. (voluntary winding up)
- 146Removal, etc. (winding up by the High Court)
- Release of liquidator
- 147Release (voluntary winding up)
- 148Release (winding up by the High Court)
- Chapter VIII: PROVISIONS OF GENERAL APPLICATION IN WINDING UP
- Moratorium: order of priority of payment of debts
- 148AMoratorium debts etc: priority
- Preferential debts
- 149Preferential debts (general provision)
- 150Preferential charge on goods distrained , etc
- Non-preferential debts
- 150ZZANon-preferential debts of financial institutions
- Property subject to floating charge
- 150ZAPayment of expenses of winding up
- 150AShare of assets for unsecured creditors
- Special managers
- 151Power to appoint special manager
- Disclaimer
- 152Power to disclaim onerous property
- 153Disclaimer of leaseholds
- 154Land subject to rentcharge
- 155Powers of High Court (general)
- 156Powers of High Court (leaseholds)
- Miscellaneous matters
- 157Rescission of contracts by the High Court
- 158Power to make over assets to employees
- 159Notification that company is in liquidation
- 160Interest on debts
- 161Company's books to be evidence
- 162Information as to pending liquidations
- 163Resolutions passed at adjourned meetings
- 164Meeting to ascertain wishes of creditors or contributories
- 165Affidavits, etc., in United Kingdom and elsewhere
- Chapter IX: DISSOLUTION OF COMPANIES AFTER WINDING UP
- 166Dissolution (voluntary winding up)
- 167Early dissolution
- 168Consequence of notice under Article 167
- 169Dissolution otherwise than under Article 167
- Chapter X: MALPRACTICE BEFORE AND DURING LIQUIDATION; PENALISATION OF COMPANIES AND COMPANY OFFICERS; INVESTIGATIONS AND PROSECUTIONS
- Offences of fraud, deception, etc.
- 170Fraud, etc., in anticipation of winding up
- 171Transactions in fraud of creditors
- 172Misconduct in course of winding up
- 173Falsification of company's books
- 174Material omissions from statement relating to company's affairs
- 175False representations to creditors
- Penalisation of directors and officers
- 176Summary remedy against delinquent directors, liquidators, etc.
- 177Fraudulent trading
- 178Wrongful trading
- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
- 179Proceedings under Articles 177 and 178
- 180Restriction on re‐use of company names
- 181Personal liability for debts, following contravention of Article 180
- Investigation and prosecution of malpractice
- 182Prosecution of delinquent officers and members of company
- 183Obligations arising under Article 182
- Part VI: WINDING UP OF UNREGISTERED COMPANIES
- 184Meaning of “unregistered company”
- 185Winding up of unregistered companies
- 186Inability to pay debts: unpaid creditor for £750 or more
- 187Inability to pay debts: debt remaining unsatisfied after action brought
- 188Inability to pay debts: other cases
- 189Company incorporated outside Northern Ireland may be wound up though dissolved
- 190Contributories in winding up of unregistered company
- 191Power of High Court to stay or restrain proceedings
- 192Actions stayed on winding‐up order
- 193Provisions of this Part to be cumulative
- Part VII: MISCELLANEOUS PROVISIONS APPLYING TO COMPANIES WHICH ARE INSOLVENT OR IN LIQUIDATION
- Office‐holders
- 194Holders of office to be qualified insolvency practitioners
- 195Appointment to office of two or more persons
- 196Validity of office‐holder's acts
- Management by administrators, liquidators, etc.
- 197Supplies of gas, water, electricity, etc.
- 197AFurther protection of essential supplies
- 197BProtection of supplies of goods and services
- 197CPowers to amend Article 197B and Schedule 2ZZA
- 198Getting in the company's property
- 199Duty to co‐operate with office‐holder
- 200Inquiry into company's dealings, etc.
- 201High Court's enforcement powers under Article 200
- Adjustment of prior transactions (administration and liquidation)
- 202Transactions at an undervalue
- 203Preferences
- 204“Relevant time” under Articles 202, 203
- 205Orders under Articles 202, 203
- 206Extortionate credit transactions
- 207Avoidance of certain floating charges
- 208Unenforceability of liens on books, etc.
- S 7A TO 10INSOLVENCY OF INDIVIDUALS; BANKRUPTCY
- Part 7A: DEBT RELIEF ORDERS
- Preliminary
- 208ADebt relief orders
- Applications for a debt relief order
- 208BMaking of application
- 208CDuty of official receiver to consider and determine application
- 208DPresumptions applicable to the determination of an application
- Making and effect of debt relief order
- 208EMaking of debt relief orders
- 208FEffect of debt relief order on administration order
- 208GMoratorium from qualifying debts
- 208HThe moratorium period
- 208IDischarge from qualifying debts
- Duties of debtor
- 208JProviding assistance to official receiver, etc.
- Objections, investigations and revocation
- 208KObjections and investigations
- 208LPower of official receiver to revoke or amend a debt relief order
- Role of the High Court
- 208MPowers of High Court in relation to debt relief orders
- 208NInquiry into debtor's dealings and property
- Offences
- 208OFalse representations and omissions
- 208PConcealment or falsification of documents
- 208QFraudulent disposal of property
- 208RFraudulent dealing with property obtained on credit
- 208SObtaining credit or engaging in business
- 208TOffences: supplementary
- Supplementary
- 208UApproved intermediaries
- 208VDebt relief restrictions orders and undertakings
- 208WRegister of debt relief orders, etc.
- 208XInterpretation
- Part VIII: INDIVIDUAL VOLUNTARY ARRANGEMENTS
- Chapter I: DEEDS OF ARRANGEMENT
- 209Deeds of arrangement to which this Chapter applies Repealed
- Registration of deeds of arrangement
- 210Registrar and deputy registrar Repealed
- 211Mode of registration Repealed
- 212Form of register Repealed
- 213Rectification of register Repealed
- Avoidance of deeds of arrangement
- 214Avoidance of unregistered deeds of arrangement Repealed
- 215Avoidance of deeds of arrangement unless assented to by a majority of the creditors Repealed
- 216Deeds otherwise void or voidable Repealed
- Provisions as to trustees
- 217Notice to creditors of avoidance of deed Repealed
- 218Trustee acting when deed of arrangement void Repealed
- 219Protection of trustees under void deeds Repealed
- 220Payment of expenses incurred by trustees Repealed
- 221Security by trustee Repealed
- 222Transmission of accounts Repealed
- 223Preferential payment to creditor Repealed
- Miscellaneous
- 224Applications to the High Court Repealed
- 225Inspection of register, etc., certified copies and evidence Repealed
- Chapter II: VOLUNTARY ARRANGEMENTS
- Moratorium for insolvent debtor
- 226Interim order of High Court
- 227Application for interim order
- 228Effect of application
- 229Cases in which interim order can be made
- 230Nominee's report on debtor's proposal
- Procedure where no interim order made
- 230ADebtor's proposal and nominee's report
- Creditors' meeting
- 231Summoning of creditors' meeting
- Consideration and implementation of debtor's proposal
- 232Decisions of creditors' meeting
- 233Report of decisions to High Court
- 234Effect of approval
- 235Additional effect on undischarged bankrupt
- 236Challenge of meeting's decision
- 236AFalse representations etc.
- 236BProsecution of delinquent debtors
- 236CArrangements coming to an end prematurely
- 237Implementation and supervision of approved voluntary arrangement
- Fast-track voluntary arrangement
- 237AAvailability
- 237BDecision
- 237CResult
- 237DApproval of voluntary arrangement
- 237EImplementation
- 237FRevocation
- 237GOffences
- Part IX: BANKRUPTCY
- Chapter I: BANKRUPTCY PETITIONS; BANKRUPTCY ORDERS
- Preliminary
- 238Who may present a bankruptcy petition
- 239Conditions to be satisfied in respect of debtor
- 240Other preliminary conditions
- Creditor's petition
- 241Grounds of creditor's petition
- 242Definition of “inability to pay”, etc.; the statutory demand
- 243Creditor with security
- 244Expedited petition
- 245Proceedings on creditor's petition
- Debtor's petition
- 246Grounds of debtor's petition
- 247Appointment of insolvency practitioner by the High Court
- 248Action on report of insolvency practitioner
- 248ADebtor who meets conditions for a debt relief order
- 249Summary administration Repealed
- Other cases for special consideration
- 250Default in connection with voluntary arrangement
- 251Petition in respect of a solicitor Repealed
- Commencement and duration of bankruptcy; discharge
- 252Commencement and continuance
- 253Duration
- 254Discharge where bankrupt is a solicitor
- 255Effect of discharge
- 255APost-discharge restrictions
- 256Power of High Court to annul bankruptcy order
- Chapter II: PROTECTION OF BANKRUPT'S ESTATE AND INVESTIGATION OF HIS AFFAIRS
- 256ABankrupt's home ceasing to form part of estate
- 257Restrictions on dispositions of property
- 258Restriction on proceedings and remedies
- 259Power to appoint interim receiver
- 260Receivership pending appointment of trustee
- 261Statement of affairs
- 262Investigatory duties of official receiver
- 263Public examination of bankrupt
- 264Duties of bankrupt in relation to official receiver
- Chapter III: TRUSTEES IN BANKRUPTCY
- Tenure of office as trustee
- 265Power to make appointments
- 266Summoning of meeting to appoint first trustee
- 267Power of creditors to requisition meeting
- 268Failure of meeting to appoint trustee
- 269Appointment of trustee by Department
- 270Special cases
- 271Removal of trustee; vacation of office
- 272Release of trustee
- 273Vacancy in office of trustee
- Control of trustee
- 274Creditors' committee
- 275Exercise by Department of functions of creditors' committee
- 276General control of trustee by the High Court
- 277Liability of trustee
- Chapter IV: ADMINISTRATION BY TRUSTEE
- Preliminary
- 278General functions of trustee
- Acquisition, control and realisation of bankrupt's estate
- 279Vesting of bankrupt's estate in trustee
- 279AProperty subject to restraint order
- 279AAProperty released from detention
- 279BProperty in respect of which receivership or administration order made
- 279BAProperty in respect of which realisation order made
- 279CProperty subject to certain orders where confiscation order discharged or quashed
- 280After‐acquired property
- 281Vesting in trustee of certain items of excess value
- 282Time‐limit for notice under Article 280 or 281
- 283Income payments orders
- 283AIncome payments agreement
- 284Acquisition by trustee of control
- 285Obligation to surrender control to trustee
- 286Charge on bankrupt's home
- 286ALow value home: application for sale, possession or charge
- 287Powers of trustee
- Disclaimer of onerous property
- 288Disclaimer (general power)
- 289Notice requiring trustee's decision
- 290Disclaimer of leaseholds
- 291Disclaimer of dwelling house
- 292Disclaimer of land subject to rentcharge
- 293High Court order vesting disclaimed property
- 294Order under Article 293 in respect of leaseholds
- Distribution of bankrupt's estate
- 295Proof of debts
- 296Mutual credit and set‐off
- 297Distribution by means of dividend
- 298Claims by unsatisfied creditors
- 299Distribution of property in specie
- 300Priority of debts
- 301Preferential charge on goods distrained
- 302Debts to spouse or civil partner
- 303Final distribution
- 304Final meeting
- 305Saving for bankrupt's home
- Supplemental
- 306Duties of bankrupt in relation to trustee
- 307Stay of distribution in case of second bankruptcy
- 308Adjustment between earlier and later bankruptcy estates
- Chapter V: EFFECT OF BANKRUPTCY ON CERTAIN RIGHTS, TRANSACTIONS, ETC.
- Rights of occupation
- 309Rights of occupation, etc., of bankrupt's spouse or civil partner
- 310Rights of occupation of bankrupt
- 311Payments in respect of premises occupied by bankrupt
- Adjustment of prior transactions, etc.
- 312Transactions at an undervalue
- 313Preferences
- 314“Relevant time” under Articles 312, 313
- 315Orders under Articles 312, 313
- 315ARecovery of excessive pension contributions
- 315BOrders under Article 315A
- 315COrders under Article 315A: supplementary
- 315DRecovery of excessive contributions in pension-sharing cases
- 315EOrders under Article 312 or 313 in respect of pension-sharing transactions
- 315FOrders under Article 312 or 313 in pension-sharing cases: supplementary
- 316Extortionate credit transactions
- 317Avoidance of general assignment of book debts
- 318Contracts to which bankrupt is a party
- 319Apprenticeships, etc.
- 320Unenforceability of liens on books, etc.
- 320AArbitration agreements to which bankrupt is party.
- Chapter VI: BANKRUPTCY OFFENCES
- Preliminary
- 321Scheme of this Chapter
- 322Definitions for the purposes of this Chapter
- 323Defence of innocent intention
- Wrongdoing by the bankrupt before and after bankruptcy
- 324Non‐disclosure
- 325Concealment of property
- 326Concealment of books and papers; falsification
- 327False statements
- 328Fraudulent disposal of property
- 329Absconding
- 330Fraudulent dealing with property obtained on credit
- 331Obtaining credit; engaging in business
- 332Failure to keep proper accounts of business Repealed
- 333Gambling Repealed
- Chapter VII: POWERS OF HIGH COURT IN BANKRUPTCY
- 334General control of High Court
- 335Power of arrest
- 336Seizure of bankrupt's property
- 337Inquiry into bankrupt's dealings and property
- 338High Court's enforcement powers under Article 337
- 339Provision corresponding to Article 337, where interim receiver appointed
- 340Order for production of documents by Inland Revenue
- 341Power to appoint special manager
- 342Re‐direction of bankrupt's letters, etc.
- Part X: INDIVIDUAL INSOLVENCY: GENERAL PROVISIONS
- 343Supplies of gas, water, electricity, etc.
- 343AFurther protection of essential supplies
- 344Time‐limits
- 345Formal defects
- S XI TO XIVMISCELLANEOUS MATTERS BEARING ON BOTH COMPANY AND INDIVIDUAL INSOLVENCY
- Part XI: PREFERENTIAL AND NON-PREFERENTIAL DEBTS IN COMPANY AND INDIVIDUAL INSOLVENCY
- 346Categories of preferential debts
- 347“The relevant date”
- 347AFinancial institutions and their non-preferential debts
- Part XII: INSOLVENCY PRACTITIONERS AND THEIR QUALIFICATION
- Restrictions on unqualified persons acting as liquidator, trustee in bankruptcy, etc.
- 348Acting as insolvency practitioner without qualification
- 348AAuthorisation of nominees and supervisors Repealed
- 348BOfficial receiver as nominee or supervisor
- The requisite qualification, and the means of obtaining it
- 349Persons not qualified to act as insolvency practitioners
- 349AAuthorisation
- 349BPartial authorisation: acting in relation to partnerships
- 350Recognised professional bodies
- 350AApplication for recognition as recognised professional body
- Regulatory objectives
- 350BApplication of regulatory objectives
- 350CMeaning of “regulatory functions” and “regulatory objectives”
- Oversight of recognised professional bodies
- 350DDirections
- 350EDirections: procedure
- 350FFinancial penalty
- 350GFinancial penalty: procedure
- 350HAppeal against financial penalty
- 350IRecovery of financial penalties
- 350JReprimand
- 350KReprimand: procedure
- Revocation etc. of recognition
- 350LRevocation of recognition at instigation of Department
- 350MOrders under Article 350L: procedure
- 350NRevocation of recognition at request of body
- Court sanction of insolvency practitioners in public interest cases
- 350ODirect sanction orders
- 350PApplication for, and power to make, direct sanctions order
- 350QDirect sanctions order: conditions
- 350RDirect sanctions direction instead of order
- General
- 350SPower for Department to obtain information
- 350TCompliance orders
- 351Authorisation by competent authority Repealed
- 352Grant, refusal and withdrawal of authorisation Repealed
- 353Notices Repealed
- 354Right to make representations Repealed
- Part XIII: PUBLIC ADMINISTRATION
- Official receivers
- 355Appointment, etc., of official receivers
- 356Functions and status of official receivers
- 357Deputy official receivers
- Insolvency Account
- 358Insolvency Account
- 358AAdjustment of balances
- Insolvency rules
- 359Insolvency rules
- 360Committee to review rules under Article 359
- Fees
- 361Fees orders
- 361AFees orders (supplementary)
- Specification, increase and reduction of money sums relevant in the operation of this Order
- 362Monetary limits
- Insolvency practice
- 363Regulations for purposes of Part XII
- Other order‐making powers
- 364Insolvent partnerships
- 365Insolvent estates of deceased persons
- 365AInsolvent estates: joint tenancies
- 366Formerly authorised banks
- 366AMeaning of “relevant offence”
- Part XIV: MISCELLANEOUS
- Provisions against debt avoidance
- 367Transactions defrauding creditors
- 368Those who may apply for an order under Article 367
- 369Provision which may be made by order under Article 367
- Disqualifications, reviews and reports
- 370Assembly disqualification
- 370AIrrelevance of privilege
- 371Review, etc., by High Court of its orders
- 372Annual report
- Legal proceedings
- 373Prosecution and punishment of offences
- 374Summary proceedings
- 375Admissibility in evidence of statements of affairs, etc.
- Supplemental
- 376Judicial notice of court documents
- 377Exemption from stamp duty
- 378Crown application
- 379Transitional provisions and savings
- Part 15: SUPPLEMENTARY PROVISIONS
- 383Introductory
- 384Representation of corporations at meetings
- 385Legal professional privilege
- 386Enforcement of company's filing obligations
- 387Application of filing obligations to overseas companies
- Schedule ZA1: MORATORIUM: ELIGIBLE COMPANIES
- Eligible companies
- 1Paragraph 1
- Companies subject to, or recently subject to, moratorium or an insolvency procedure
- 2Paragraph 2
- Insurance companies
- 3Paragraph 3
- Banks
- 4Paragraph 4
- Electronic money institutions
- 5Paragraph 5
- Investment banks and investment firms
- 6Paragraph 6
- Companies that are party to market contracts or subject to market charges, etc
- 7Paragraph 7
- Participants in designated systems
- 8Paragraph 8
- Payment institutions
- 9Paragraph 9
- Operators of payment systems, infrastructure providers etc
- 10Paragraph 10
- Recognised investment exchanges, clearing houses and CSDs
- 11Paragraph 11
- Securitisation companies
- 12Paragraph 12
- Parties to capital market arrangement
- 13Paragraph 13
- 14Paragraph 14
- Public-private partnership project companies
- 15Paragraph 15
- 16Paragraph 16
- 17Paragraph 17
- Overseas companies with corresponding functions
- 18Paragraph 18
- Interpretation of Schedule
- 19Paragraph 19
- Power to amend Schedule
- 20Paragraph 20
- Schedule ZA2: MORATORIUM: CONTRACT OR OTHER INSTRUMENT INVOLVING FINANCIAL SERVICES
- Introductory
- 1Paragraph 1
- Financial contracts
- 2Paragraph 2
- Securities financing transactions
- 3Paragraph 3
- Derivatives
- 4Paragraph 4
- Spot contracts
- 5Paragraph 5
- Capital market investments
- 6Paragraph 6
- Contracts forming part of a public-private partnership
- 7Paragraph 7
- Market contracts
- 8Paragraph 8
- Qualifying collateral arrangements and qualifying property transfers
- 9Paragraph 9
- Contracts secured by certain charges or arrangements
- 10Paragraph 10
- Default arrangements and transfer orders
- 11Paragraph 11
- Card-based payment transactions
- 12Paragraph 12
- Power to amend Schedule
- 13Paragraph 13
- Schedule A1: MORATORIUM WHERE DIRECTORS PROPOSE VOLUNTARY ARRANGEMENT
- Part I: INTRODUCTORY Repealed
- Interpretation Repealed
- 1Paragraph 1 Repealed
- Eligible companies Repealed
- 2Paragraph 2 Repealed
- 3Paragraph 3 Repealed
- 4Paragraph 4 Repealed
- Capital market arrangement Repealed
- 5Paragraph 5 Repealed
- Public private partnership Repealed
- 6Paragraph 6 Repealed
- Liability under an arrangement Repealed
- 7Paragraph 7 Repealed
- Interpretation of capital market arrangement Repealed
- 8Paragraph 8 Repealed
- Capital market investment Repealed
- 9Paragraph 9 Repealed
- 10Paragraph 10 Repealed
- Debt Repealed
- 11Paragraph 11 Repealed
- Interpretation of project company Repealed
- 12Paragraph 12 Repealed
- Public-private partnership project Repealed
- 13Paragraph 13 Repealed
- Step-in rights Repealed
- 14Paragraph 14 Repealed
- “Person” Repealed
- 15Paragraph 15 Repealed
- 16Paragraph 16 Repealed
- Part II: OBTAINING A MORATORIUM Repealed
- Nominee's statement Repealed
- 17Paragraph 17 Repealed
- Documents to be submitted to High Court Repealed
- 18Paragraph 18 Repealed
- Duration of moratorium Repealed
- 19Paragraph 19 Repealed
- Notification of beginning of moratorium Repealed
- 20Paragraph 20 Repealed
- 21Paragraph 21 Repealed
- Notification of end of moratorium Repealed
- 22Paragraph 22 Repealed
- Part III: EFFECTS OF MORATORIUM Repealed
- Effect on creditors, etc. Repealed
- 23Paragraph 23 Repealed
- 24Paragraph 24 Repealed
- 25Paragraph 25 Repealed
- Effect on company Repealed
- 26Paragraph 26 Repealed
- Company invoices, etc. Repealed
- 27Paragraph 27 Repealed
- Obtaining credit during moratorium Repealed
- 28Paragraph 28 Repealed
- Disposals and payments Repealed
- 29Paragraph 29 Repealed
- 30Paragraph 30 Repealed
- Disposal of charged property, etc. Repealed
- 31Paragraph 31 Repealed
- 32Paragraph 32 Repealed
- Market contracts, etc. Repealed
- 33Paragraph 33 Repealed
- Part IV: NOMINEES Repealed
- Monitoring of company's activities Repealed
- 34Paragraph 34 Repealed
- Withdrawal of consent to act Repealed
- 35Paragraph 35 Repealed
- Challenge of nominee's actions, etc. Repealed
- 36Paragraph 36 Repealed
- 37Paragraph 37 Repealed
- Replacement of nominee by High Court Repealed
- 38Paragraph 38 Repealed
- Part V: CONSIDERATION AND IMPLEMENTATION OF VOLUNTARY ARRANGEMENT Repealed
- Summoning of meetings Repealed
- 39Paragraph 39 Repealed
- Conduct of meetings Repealed
- 40Paragraph 40 Repealed
- Approval of voluntary arrangement Repealed
- 41Paragraph 41 Repealed
- Extension of moratorium Repealed
- 42Paragraph 42 Repealed
- 43Paragraph 43 Repealed
- 44Paragraph 44 Repealed
- Moratorium committee Repealed
- 45Paragraph 45 Repealed
- Effectiveness of decisions Repealed
- 46Paragraph 46 Repealed
- Effect of approval of voluntary arrangement Repealed
- 47Paragraph 47 Repealed
- Challenge of decisions Repealed
- 48Paragraph 48 Repealed
- Implementation of voluntary arrangement Repealed
- 49Paragraph 49 Repealed
- Part VI: MISCELLANEOUS Repealed
- Challenge of directors' actions Repealed
- 50Paragraph 50 Repealed
- Offences Repealed
- 51Paragraph 51 Repealed
- 52Paragraph 52 Repealed
- Void provisions in floating charge documents Repealed
- 53Paragraph 53 Repealed
- Functions of the Financial Conduct Authority and the Prudential Regulation Authority Repealed
- 54Paragraph 54 Repealed
- Subordinate legislation Repealed
- 55Paragraph 55 Repealed
- Schedule B1: ADMINISTRATION
- ARRANGEMENT OF SCHEDULEPart ARRANGEMENT OF SCHEDULE
- Part: INTRODUCTORY
- Interpretation
- 1Paragraph 1
- Non-UK companies
- 1AParagraph 1A
- Part: NATURE OF ADMINISTRATION
- Administration
- 2Paragraph 2
- 3Paragraph 3
- Purpose of administration
- 4Paragraph 4
- 5Paragraph 5
- Status of administrator
- 6Paragraph 6
- General restrictions
- 7Paragraph 7
- 8Paragraph 8
- 9Paragraph 9
- 10Paragraph 10
- Part: APPOINTMENT OF ADMINISTRATOR BY HIGH COURT
- Administration order
- 11Paragraph 11
- Conditions for making order
- 12Paragraph 12
- Administration application
- 13Paragraph 13
- Powers of High Court
- 14Paragraph 14
- Part: APPOINTMENT OF ADMINISTRATOR BY HOLDER OF FLOATING CHARGE
- Power to appoint
- 15Paragraph 15
- Restrictions on power to appoint
- 16Paragraph 16
- 17Paragraph 17
- 18Paragraph 18
- Notice of appointment
- 19Paragraph 19
- Commencement of appointment
- 20Paragraph 20
- 21Paragraph 21
- Invalid appointment: indemnity
- 22Paragraph 22
- Part: APPOINTMENT OF ADMINISTRATOR BY COMPANY OR DIRECTORS
- Power to appoint
- 23Paragraph 23
- Restrictions on power to appoint
- 24Paragraph 24
- 25Paragraph 25 Repealed
- 26Paragraph 26
- Notice of intention to appoint
- 27Paragraph 27
- 28Paragraph 28
- 29Paragraph 29
- Notice of appointment
- 30Paragraph 30
- 31Paragraph 31
- Commencement of appointment
- 32Paragraph 32
- 33Paragraph 33
- 34Paragraph 34
- Invalid appointment: indemnity
- 35Paragraph 35
- Part: ADMINISTRATION APPLICATION — SPECIAL CASES
- Application by holder of floating charge
- 36Paragraph 36
- Intervention by holder of floating charge
- 37Paragraph 37
- Application where company in liquidation
- 38Paragraph 38
- 39Paragraph 39
- Effect of administrative receivership
- 40Paragraph 40
- Part: EFFECT OF ADMINISTRATION
- Dismissal of pending winding-up petition
- 41Paragraph 41
- Dismissal of administrative or other receiver
- 42Paragraph 42
- Moratorium on insolvency proceedings
- 43Paragraph 43
- Moratorium on other legal process
- 44Paragraph 44
- Interim moratorium
- 45Paragraph 45
- Publicity
- 46Paragraph 46
- Part: PROCESS OF ADMINISTRATION
- Announcement of administrator's appointment
- 47Paragraph 47
- Statement of company's affairs
- 48Paragraph 48
- 49Paragraph 49
- Administrator's proposals
- 50Paragraph 50
- Creditors' meeting
- 51Paragraph 51
- Requirement for initial creditors' meeting
- 52Paragraph 52
- 53Paragraph 53
- Business and result of initial creditors' meeting
- 54Paragraph 54
- Revision of administrator's proposals
- 55Paragraph 55
- Failure to obtain approval of administrator's proposals
- 56Paragraph 56
- Further creditors' meetings
- 57Paragraph 57
- Creditors' committee
- 58Paragraph 58
- Correspondence instead of creditors' meeting
- 59Paragraph 59
- Part: FUNCTIONS OF ADMINISTRATOR
- General powers
- 60Paragraph 60
- 61Paragraph 61
- 61AParagraph 61A
- 62Paragraph 62
- 63Paragraph 63
- 64Paragraph 64
- 65Paragraph 65
- Distribution
- 65AParagraph 65A
- 66Paragraph 66
- 67Paragraph 67
- General duties
- 68Paragraph 68
- 69Paragraph 69
- Administrator as agent of company
- 70Paragraph 70
- Charged property: floating charge
- 71Paragraph 71
- Charged property: non-floating charge
- 72Paragraph 72
- Hire-purchase property
- 73Paragraph 73
- Protection for priority creditor
- 74Paragraph 74
- Challenge to administrator's conduct of company
- 75Paragraph 75
- Misfeasance
- 76Paragraph 76
- Part: ENDING ADMINISTRATION
- Automatic end of administration
- 77Paragraph 77
- 78Paragraph 78
- 79Paragraph 79
- Court ending administration on application of administrator
- 80Paragraph 80
- Termination of administration where objective achieved
- 81Paragraph 81
- Court ending administration on application of creditor
- 82Paragraph 82
- Public interest winding-up
- 83Paragraph 83
- Moving from administration to creditors' voluntary liquidation
- 84Paragraph 84
- Moving from administration to dissolution
- 85Paragraph 85
- Discharge of administration order where administration ends
- 86Paragraph 86
- Notice to registrar where administration ends
- 87Paragraph 87
- Part: REPLACING ADMINISTRATOR
- Resignation of administrator
- 88Paragraph 88
- Removal of administrator from office
- 89Paragraph 89
- Administrator ceasing to be qualified
- 90Paragraph 90
- Supplying vacancy in office of administrator
- 91Paragraph 91
- 92Paragraph 92
- 93Paragraph 93
- 94Paragraph 94
- 95Paragraph 95
- 96Paragraph 96
- Substitution of administrator: competing floating charge-holder
- 97Paragraph 97
- Substitution of administrator appointed by company or directors: creditors' meeting
- 98Paragraph 98
- Vacation of office: discharge from liability
- 99Paragraph 99
- Vacation of office: charges and liabilities
- 100Paragraph 100
- Part: GENERAL
- Joint and concurrent administrators
- 101Paragraph 101
- 102Paragraph 102
- 103Paragraph 103
- 104Paragraph 104
- Presumption of validity
- 105Paragraph 105
- Majority decision of directors
- 106Paragraph 106
- Penalties
- 107Paragraph 107
- Extension of time limit
- 108Paragraph 108
- 109Paragraph 109
- 110Paragraph 110
- Amendment of provision about time
- 111Paragraph 111
- Schedule 1: POWERS OF ADMINISTRATOR OR ADMINISTRATIVE RECEIVER
- 1Paragraph 1
- 2Paragraph 2
- 3Paragraph 3
- 4Paragraph 4
- 5Paragraph 5
- 6Paragraph 6
- 7Paragraph 7
- 8Paragraph 8
- 9Paragraph 9
- 10Paragraph 10
- 11Paragraph 11
- 12Paragraph 12
- 13Paragraph 13
- 14Paragraph 14
- 15Paragraph 15
- 16Paragraph 16
- 17Paragraph 17
- 18Paragraph 18
- 19Paragraph 19
- 20Paragraph 20
- 21Paragraph 21
- 22Paragraph 22
- 23Paragraph 23
- 24Paragraph 24
- Schedule 1A: EXCEPTIONS TO PROHIBITION ON APPOINTMENT OF ADMINISTRATIVE RECEIVER: SUPPLEMENTARY PROVISIONS
- Part: Capital market arrangement
- 1Paragraph 1
- Part: Capital market investment
- 2Paragraph 2
- 3Paragraph 3
- Part: “Agreement”
- 4Paragraph 4
- Part: Debt
- 5Paragraph 5
- Part: Step-in rights
- 6Paragraph 6
- Part: Project company
- 7Paragraph 7
- Part: “Resources”
- 8Paragraph 8
- Part: “Public body”
- 9Paragraph 9
- Part: Regulated business
- 10Paragraph 10
- Part: “Person”
- 11Paragraph 11
- Schedule 2: POWERS OF LIQUIDATOR IN A WINDING UP
- Part I: POWERS EXERCISABLE WITH SANCTION
- 1Paragraph 1
- 2Paragraph 2
- 3Paragraph 3 Repealed
- 3AParagraph 3A
- Part II: POWERS EXERCISABLE WITHOUT SANCTION IN VOLUNTARY WINDING UP, WITH SANCTION IN WINDING UP BY THE HIGH COURT
- 4Paragraph 4
- 5Paragraph 5
- Part III: POWERS EXERCISABLE WITHOUT SANCTION IN ANY WINDING UP
- 6Paragraph 6
- 7Paragraph 7
- 7AParagraph 7A
- 8Paragraph 8
- 8AParagraph 8A
- 9Paragraph 9
- 10Paragraph 10
- 11Paragraph 11
- 12Paragraph 12
- 13Paragraph 13
- 14Paragraph 14
- Schedule 2ZZA: PROTECTION OF SUPPLIES UNDER ARTICLE 197B: EXCLUSIONS
- Part 1: ESSENTIAL SUPPLIES
- Essential supplies
- 1Paragraph 1
- Part 2: PERSONS INVOLVED IN FINANCIAL SERVICES
- Introductory
- 2Paragraph 2
- Insurers
- 3Paragraph 3
- Banks
- 4Paragraph 4
- Electronic money institutions
- 5Paragraph 5
- Investment banks and investment firms
- 6Paragraph 6
- Payment institutions
- 7Paragraph 7
- Operators of payment systems, infrastructure providers etc
- 8Paragraph 8
- Recognised investment exchanges etc
- 9Paragraph 9
- Securitisation companies
- 10Paragraph 10
- Overseas activities
- 11Paragraph 11
- Part 3: CONTRACTS INVOLVING FINANCIAL SERVICES
- Introductory
- 12Paragraph 12
- Financial contracts
- 13Paragraph 13
- Securities financing transactions
- 14Paragraph 14
- Derivatives
- 15Paragraph 15
- Spot contracts
- 16Paragraph 16
- Capital market investments
- 17Paragraph 17
- Contracts forming part of a public-private partnership
- 18Paragraph 18
- Part 4: OTHER EXCLUSIONS
- Financial markets and insolvency
- 19Paragraph 19
- Set-off and netting
- 20Paragraph 20
- Aircraft equipment
- 21Paragraph 21
- Schedule 2ZA: CONDITIONS FOR MAKING A DEBT RELIEF ORDER
- Part 1: CONDITIONS WHICH MUST BE MET
- Connection with Northern Ireland
- 1Paragraph 1
- Debtor's previous insolvency history
- 2Paragraph 2
- 3Paragraph 3
- 4Paragraph 4
- 5Paragraph 5
- Limit on debtor's overall indebtedness
- 6Paragraph 6
- Limit on debtor's monthly surplus income
- 7Paragraph 7
- Limit on value of debtor's property
- 8Paragraph 8
- Part 2: OTHER CONDITIONS
- 9Paragraph 9
- 10Paragraph 10
- Schedule 2ZB: DEBT RELIEF RESTRICTIONS ORDERS AND UNDERTAKINGS
- Debt relief restrictions order
- 1Paragraph 1
- Grounds for making order
- 2Paragraph 2
- Timing of application for order
- 3Paragraph 3
- Duration of order
- 4Paragraph 4
- Interim debt relief restrictions order
- 5Paragraph 5
- 6Paragraph 6
- Debt relief restrictions undertaking
- 7Paragraph 7
- 8Paragraph 8
- 9Paragraph 9
- Effect of revocation of debt relief order
- 10Paragraph 10
- Schedule 2A: BANKRUPTCY RESTRICTIONS ORDER AND UNDERTAKING
- Part: Bankruptcy restrictions order
- 1Paragraph 1
- Part: Grounds for making order
- 2Paragraph 2
- Part: Timing of application for order
- 3Paragraph 3
- Part: Duration of order
- 4Paragraph 4
- Part: Interim bankruptcy restrictions order
- 5Paragraph 5
- 6Paragraph 6
- Part: Bankruptcy restrictions undertaking
- 7Paragraph 7
- 8Paragraph 8
- 9Paragraph 9
- Part: Effect of annulment of bankruptcy order
- 10Paragraph 10
- 11Paragraph 11
- Part: Registration
- 12Paragraph 12
- Schedule 3: POWERS OF TRUSTEE IN BANKRUPTCY
- Part I: POWERS EXERCISABLE WITH SANCTION
- 1Paragraph 1
- 2Paragraph 2
- 2AParagraph 2A
- 3Paragraph 3
- 4Paragraph 4
- 5Paragraph 5
- 6Paragraph 6 Repealed
- 7Paragraph 7
- 8Paragraph 8
- Part II: POWERS EXERCISABLE WITHOUT SANCTION
- 9Paragraph 9
- 10Paragraph 10
- 10AParagraph 10A
- 10BParagraph 10B
- 11Paragraph 11
- 12Paragraph 12
- 13Paragraph 13
- 14Paragraph 14
- Part III: ANCILLARY POWERS
- 15Paragraph 15
- Schedule 4: THE CATEGORIES OF PREFERENTIAL DEBTS
- Part: Category 1: Debts due to Inland Revenue
- 1Paragraph 1 Repealed
- 2Paragraph 2 Repealed
- Part: Category 2: Debts due to Customs and Excise
- 3Paragraph 3 Repealed
- 3AParagraph 3A Repealed
- 3BParagraph 3B Repealed
- 3CParagraph 3C Repealed
- 4Paragraph 4 Repealed
- 5Paragraph 5 Repealed
- 5AParagraph 5A Repealed
- 5BParagraph 5B Repealed
- 5CParagraph 5C Repealed
- Part: Category 3: Social security contributions
- 6Paragraph 6 Repealed
- 7Paragraph 7 Repealed
- Part: Category 4: Contributions to occupational pension schemes, etc.
- 8Paragraph 8
- Part: Category 5: Remuneration, etc., of employees
- 9Paragraph 9
- 10Paragraph 10
- 11Paragraph 11
- 12Paragraph 12
- Part: Interpretation for Category 5
- 13Paragraph 13
- 14Paragraph 14
- 15Paragraph 15
- Part: Orders under Category 5
- 16Paragraph 16
- Part: Category 6: Levies on coal and steel production
- 17Paragraph 17
- Part: Category 6A: Debts owed to the Financial Services Compensation Scheme
- 17AParagraph 17A
- Part: Category 7: Deposits covered by Financial Services Compensation Scheme
- 18Paragraph 18
- Part: Category 8: Other deposits
- 19Paragraph 19
- 20Paragraph 20
- Part: Interpretation for Categories 6A, 7 and 8
- 21Paragraph 21
- Part: Category 9: Certain HMRC debts
- 22Paragraph 22
- Schedule 5: PROVISIONS CAPABLE OF INCLUSION IN COMPANY INSOLVENCY RULES
- Part: High Court
- 1Paragraph 1
- 2Paragraph 2
- Part: Notices, etc.
- 3Paragraph 3
- 4Paragraph 4
- 5Paragraph 5
- Part: Registration of voluntary arrangements
- 6Paragraph 6
- Part: Provisional liquidator
- 7Paragraph 7
- Part: Conduct of insolvency
- 8Paragraph 8
- 9Paragraph 9
- 10Paragraph 10
- 11Paragraph 11
- 12Paragraph 12
- 13Paragraph 13
- 14Paragraph 14
- 14AParagraph 14A
- Part: Administration
- 14BParagraph 14B
- Part: Financial provisions
- 15Paragraph 15
- 16Paragraph 16
- 16AParagraph 16A
- 17Paragraph 17
- 18Paragraph 18
- 19Paragraph 19
- Part: Information and records
- 20Paragraph 20
- 21Paragraph 21
- 22Paragraph 22
- 23Paragraph 23
- 24Paragraph 24
- 25Paragraph 25
- 26Paragraph 26
- Part: General
- 27Paragraph 27
- 28Paragraph 28
- 29Paragraph 29
- 30Paragraph 30
- Schedule 6: PROVISIONS CAPABLE OF INCLUSION IN INDIVIDUAL INSOLVENCY RULES
- Part: High Court
- 1Paragraph 1
- 2Paragraph 2
- Part: Notices, etc.
- 3Paragraph 3
- 4Paragraph 4
- 5Paragraph 5
- Debt relief orders
- 5AParagraph 5A
- 5BParagraph 5B
- 5CParagraph 5C
- Debt relief restrictions orders and undertakings
- 5DParagraph 5D
- Register of debt relief orders and debt relief restrictions orders, etc.
- 5EParagraph 5E
- Part: ... Voluntary arrangements
- 6Paragraph 6
- Part: Official receiver acting on voluntary arrangement
- 6AParagraph 6A
- Part: Interim receiver
- 7Paragraph 7
- Part: Receiver or manager
- 8Paragraph 8
- Part: Administration of individual insolvency
- 9Paragraph 9
- 10Paragraph 10
- 11Paragraph 11
- 12Paragraph 12
- 13Paragraph 13
- 14Paragraph 14
- 15Paragraph 15
- 16Paragraph 16
- 17Paragraph 17
- Part: Financial provisions
- 18Paragraph 18
- 19Paragraph 19
- 19AParagraph 19A
- 20Paragraph 20
- 21Paragraph 21
- Part: Information and records
- 22Paragraph 22
- 23Paragraph 23
- 24Paragraph 24
- 25Paragraph 25
- 26Paragraph 26
- 27Paragraph 27
- Part: Bankruptcy restrictions orders and undertakings
- 27AParagraph 27A
- Part: General
- 28Paragraph 28
- 29Paragraph 29
- 30Paragraph 30
- Schedule 7PUNISHMENT OF OFFENCES UNDER THIS ORDER
- Schedule 8: TRANSITIONAL PROVISIONS AND SAVINGS
- Part I: COMPANY INSOLVENCY AND WINDING UP
- Administration orders
- 1Paragraph 1
- Receivers and managers
- 2Paragraph 2
- Winding up already in progress
- 3Paragraph 3
- Statement of affairs
- 4Paragraph 4
- Provisions relating to liquidator
- 5Paragraph 5
- Saving for power to make rules
- 6Paragraph 6
- Setting aside of preferences and other transactions
- 7Paragraph 7
- Part II: INDIVIDUAL INSOLVENCY
- Bankruptcy general
- 8Paragraph 8
- 9Paragraph 9
- 10Paragraph 10
- Discharge from old bankruptcy
- 11Paragraph 11
- Provisions relating to trustee
- 12Paragraph 12
- Second bankruptcy
- 13Paragraph 13
- Setting aside of preferences and other transactions
- 14Paragraph 14
- Bankruptcy offences
- 15Paragraph 15
- Power to make rules
- 16Paragraph 16
- Part III: OTHER TRANSITIONAL PROVISIONS AND SAVINGS
- ...
- 17Paragraph 17 Repealed
- Insolvency practitioners
- 18Paragraph 18
- Official receiver
- 19Paragraph 19
- Transitional effect of Articles 367 to 369
- 20Paragraph 20
- Periods of time
- 21Paragraph 21
- Saving
- 22Paragraph 22
- Interpretation
- 23Paragraph 23
- Schedule Schedule
- Schedule Schedule