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Changes over time for: Paragraph 19


Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 26/06/2020
Status:
Point in time view as at 17/03/2011.
Changes to legislation:
Insolvency Act 1986, Paragraph 19 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
[19(1)Subject to sub-paragraph (2), the company may only make any payment in respect of any debt or other liability of the company in existence before the beginning of the moratorium if—E+W+S
(a)there are reasonable grounds for believing that the payment will benefit the company, and
(b)the payment is approved by the committee established under paragraph 35(1) or, where there is no such committee, by the nominee.
(2)Sub-paragraph (1) does not apply to a payment required by paragraph 20(6).
(3)If the company makes a payment in contravention of sub-paragraph (1) otherwise than in pursuance of an order of the court—
(a)the company is liable to a fine, and
(b)if any officer of the company authorised or permitted the contravention, without reasonable excuse, he is liable to imprisonment or a fine, or both.]
Yn ôl i’r brig