Version Superseded: 26/06/2020
Point in time view as at 06/04/2003.
Insolvency Act 1986, Cross Heading: Void provisions in floating charge documents 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.
Textual Amendments
F1Sch. A1 inserted (11.5.2001 so far as is necessary to give effect to Sch. A1 paras. 5, 45(1)-(3)(5) and 1.1.2003 in so far as not already in force) by 2000 c. 39, s. 1, Sch. 1 para. 4; S.I. 2001/1751, art. 2; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
F243(1)A provision in an instrument creating a floating charge is void if it provides for—E+W+S
(a)obtaining a moratorium, or
(b)anything done with a view to obtaining a moratorium (including any preliminary decision or investigation),
to be an event causing the floating charge to crystallise or causing restrictions which would not otherwise apply to be imposed on the disposal of property by the company or a ground for the appointment of a receiver.
(2)In sub-paragraph (1), “receiver” includes a manager and a person who is appointed both receiver and manager.]
Textual Amendments
F2Sch. A1 inserted (11.5.2001 so far as is necessary to give effect to Sch. A1 paras. 5, 45(1)-(3)(5) and 1.1.2003 in so far as not already in force) by 2000 c. 39, s. 1, Sch. 1 para. 4; S.I. 2001/1751, art. 2; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
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