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The Insolvency (England and Wales) Rules 2016

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Changes over time for: Section 12

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Status:

Point in time view as at 26/06/2020.

Changes to legislation:

There are currently no known outstanding effects for the The Insolvency (England and Wales) Rules 2016, Section 12. Help about Changes to Legislation

Power to make a block transfer orderE+W
This section has no associated Explanatory Memorandum

12.36.—(1) This rule applies where an office-holder (‘the outgoing office-holder’)—

(a)dies;

(b)retires from practice; or

(c)is otherwise unable or unwilling to continue in office;

and it is expedient to transfer some or all of the cases in which the outgoing office-holder holds office to one or more office-holders (‘the replacement office-holder’) in a single transaction.

(2) In a case to which this rule applies the court has the power to make an order (‘a block transfer order’) appointing a replacement office-holder in the place of the outgoing office-holder to be—

(a)liquidator in any winding up (including a case where the official receiver is the liquidator by virtue of section 136) M1;

(b)administrator in any administration;

(c)trustee in a bankruptcy (including a case where the official receiver is the trustee by virtue of section 300 M2); or

(d)supervisor of a CVA or an IVA.

(3) The replacement office-holder must be—

(a)qualified to act as an insolvency practitioner in relation to the company or bankrupt; or

(b)where the replacement office-holder is to be appointed supervisor of an IVA—

(i)qualified to act as an insolvency practitioner in relation to the debtor, or

(ii)a person authorised so to act.

Modifications etc. (not altering text)

C1Rule 12.36 applied (with modifications) (temp.) (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 4 para. 47 (with ss. 2(2), 5(2), Sch. 4 para. 12)

Marginal Citations

M1Section 136(4), (5)(a) and (c) and (6) are amended by paragraph 31 of Schedule 9 to the Small Business, Enterprise and Employment Act 2015 (c.26).

M2Section 300(4) and (8)_ is amended, (3) is substituted and (3A) is inserted by paragraph 79 of Schedule 9 to the Small Business, Enterprise and Employment Act 2015 (c.26).

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