Search Legislation

The Insolvency (Amendment) Rules 2010

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As made)

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Amendments to Rule 4.125

This section has no associated Explanatory Memorandum

214.—(1) Rule 4.125 (final meeting – winding up by court)) is amended as follows.

(2) In paragraph (1), omit from “; and the liquidator” to the end.

(3) After paragraph (1) insert—

(1A) The final meeting must not be held unless Rule 4.49D has been complied with; and if for that reason the meeting is not held—

(a)the liquidator must give notice of that fact as soon as reasonably practicable to all to whom notice of the meeting was given, and

(b)fresh notice of the meeting complying with this Rule must be given when Rule 4.49D has been complied with.

(1B) The liquidator—

(a)at least 1 month before the meeting is held must have gazetted a notice of the meeting; and

(b)may advertise the notice in such other manner as the liquidator thinks fit.

(1C) In addition to the standard contents, the notice under paragraph (1B) must state—

(a)who summoned the meeting;

(b)if the meeting was summoned at the request of a creditor, the fact that it was so summoned and the section of the Act under which it was requested;

(c)the purpose for which the meeting is summoned;

(d)the venue fixed for the meeting; and

(e)the time and date by which, and place at which, creditors must lodge proxies and hitherto unlodged proofs in order to be entitled to vote at the meeting..

(4) In paragraph (2), at the end of sub-paragraph (a), for “and” substitute—

including details of remuneration charged and expenses incurred by the liquidator,

(ab)details of the basis fixed for the liquidator’s remuneration, and.

(5) After paragraph (2A) insert—

(2B) Where the liquidator has sent a progress report to creditors in accordance with Rule 4.49B, the report to be laid at the final meeting of creditors must also—

(a)contain a receipts and payments account in the form of an abstract showing the receipts and payments during the period since the last progress report, and

(b)include—

(i)details of the remuneration charged and expenses incurred by the liquidator during that period, and

(ii)a description of the things done by the liquidator during that period in respect of which that remuneration was charged and those expenses incurred.

(2C) In any case where the basis of the liquidator’s remuneration had not been fixed by the date to which the last progress report was made up, the receipts and payments account required by paragraph (2B)(a) must also include details of the remuneration charged in the period of any preceding progress report in which details of remuneration were not included.

(2D) Where the basis of remuneration has been fixed as a set amount only, it is sufficient compliance with paragraph (2B)(b) for the liquidator to state the amount which has been set and to supply details of the expenses charged within the period in question..

Back to top

Options/Help

Print Options

You have chosen to open The Whole Instrument

The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Instrument as a PDF

The Whole Instrument you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open The Whole Schedule

The Whole Schedule you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Schedule as a PDF

The Whole Schedule you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Instrument

The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

Impact Assessments

Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:

  • Why the government is proposing to intervene;
  • The main options the government is considering, and which one is preferred;
  • How and to what extent new policies may impact on them; and,
  • The estimated costs and benefits of proposed measures.
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources