C4C5C12C11C10C8C9C7C13 Part XIII Insolvency Practitioners and their Qualification

Annotations:
Modifications etc. (not altering text)
C4

Pt. 13 (ss. 388-398) modified by S.I. 1990/1392, art. 7

Pt. 13 (ss. 388-398) modified (1.2.1993) by Friendly Societies Act 1992 (c. 40), ss. 23, Sch. 10 Pt. I para. 1(a) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch. 3

C5

Pt. 13 (ss. 388-398) applied (with modifications) (1.2.1993) by Friendly Societies Act 1992 (c. 40), ss. 21(1), 22, 23, Sch. 10 Pt. I para. 1(a) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch. 3

Pt. 13 (ss. 388-398) applied (1.12.1994) by S.I. 1994/2421, arts. 4(3)(d), 6(3)(d)

Pt. 13 (ss. 388-398) applied (with modifications) (1.12.1994) by S.I. 1994/2421, arts. 8(4)(5)(8)(9), 10(2)(3)(6), Sch. 4 Pt. II, Sch. 7

Pt. 13 applied (with modifications) (5.10.2004) by Energy Act 2004 (c. 20), ss. 171(3), 198; S.I. 2004/2575, art. 2(1), Sch. 1

C12

Third Group of Parts (Pts. 12-19) applied to limited liability partnerships (with modifications) (E.W.S.) (6.4.2001) by S.I. 2001/1090, reg. 5, Schs. 3, 4 (as amended: (4.3.2004) by S.I. 2004/355, art. 10; (1.10.2005) by S.I. 2005/1989, reg. 3, Sch. 2 (with reg. 4); (8.12.2017) by The Insolvency (Miscellaneous Amendments) Regulations 2017 (S.I. 2017/1119), reg. 1(1), Sch. 1 Pts. 2, 3; and (16.2.2021) by The Limited Liability Partnerships (Amendment etc.) Regulations 2021 (S.I. 2021/60), reg. 1(1), Sch. 1 (with reg. 3(2)))

C8

Pt. 13 applied (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))

C9

Pt. 13 applied (with modifications) (7.4.2017) by Friendly Societies Act 1992 (1992 c. 40), Sch. 10 (as amended by S.I. 2017/400, regs. 1(2), 3)

C7

Pt. 13 applied (with modifications) (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))

C13

Third Group of Parts (Pts. 12-19) applied (with modifications) (8.7.2021) by The Payment and Electronic Money Institution Insolvency Regulations 2021 (S.I. 2021/716), reg. 2, Sch. 1 para. 3 (with reg. 5) (as amended (4.1.2024) by S.I. 2023/1399, regs. 1(2), 4)

Restrictions on unqualified persons acting as liquidator, trustee in bankruptcy, etc.

C1C2C3C6388C8C9C7 Meaning of “act as insolvency practitioner”

1

A person acts as an insolvency practitioner in relation to a company by acting—

a

as its liquidator, provisional liquidator, administrator F15, administrative receiver or monitor, or

F1b

where a voluntary arrangement in relation to the company is proposed or approved under Part I, as nominee or supervisor

2

A person acts as an insolvency practitioner in relation to an individual by acting—

a

as his trustee in bankruptcy or interim receiver of his property or as F12trustee (or interim trustee) in the sequestration of his estate; or

b

as trustee under a deed which is F9..., in Scotland, a trust deed for his creditor; or

F2c

where a voluntary arrangement in relation to the individual is proposed or approved under Part VIII, as nominee or supervisor

d

in the case of a deceased individual to the administration of whose estate this section applies by virtue of an order under section 421 (application of provisions of this Act to insolvent estates of deceased persons), as administrator of that estate.

F32A

A person acts as an insolvency practitioner in relation to an insolvent partnership by acting—

a

as its liquidator, provisional liquidator or administrator, or

b

as trustee of the partnership under article 11 of the Insolvent Partnerships Order 1994, or

F4c

where a voluntary arrangement in relation to the insolvent partnership is proposed or approved under Part I of the Act, as nominee or supervisor.

F52B

In relation to a voluntary arrangement proposed under Part I or VIII, a person acts as nominee if he performs any of the functions conferred on nominees under the Part in question.

3

References in this section to an individual include, except in so far as the context otherwise requires, references F6. . . to any debtor within the meaning of the Bankruptcy (Scotland) Act F112016.

4

In this section—

  • “administrative receiver” has the meaning given by section 251 in Part VII;

  • F7“company” means—

    1. a

      a company registered under the Companies Act 2006 in England and Wales or Scotland, or

    2. b

      a company that may be wound up under Part 5 of this Act (unregistered companies).

  • F14“monitor” has the same meaning as in Part A1 (moratorium);

  • F10“sequestration” means sequestration under the Bankruptcy (Scotland) Act 2016

F85

Nothing in this section applies to anything done by—

a

the official receiver; or

b

the Accountant in Bankruptcy (within the meaning of the Bankruptcy (Scotland) Act F132016).

F166

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