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Insolvency Act 1986
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Changes over time for: Section 124A
Version Superseded: 31/01/2019
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Point in time view as at 30/11/2016. This version of this provision has been superseded.
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Insolvency Act 1986, Section 124A is up to date with all changes known to be in force on or before 10 November 2024. 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.
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[F1124A Petition for winding up on grounds of public interest.E+W+S
(1)Where it appears to the Secretary of State from—
(a)any report made or information obtained under Part XIV [F2(except section 448A)] of the M1 Companies Act 1985 (company investigations, &c.),
[F3(b)any report made by inspectors under—
(i)section 167, 168, 169 or 284 of the Financial Services and Markets Act 2000, or
(ii)where the company is an open-ended investment company (within the meaning of that Act), regulations made as a result of section 262(2)(k) of that Act;
(bb)any information or documents obtained under section 165, 171, 172, 173 or 175 of that Act,]
(c)any information obtained under section 2 of the M2 Criminal Justice Act 1987 or [F4section 28 of the Criminal Law (Consolidation) (Scotland) Act 1995] (fraud investigations), or
(d)any information obtained under section 83 of the Companies Act 1989 (powers exercisable for purpose of assisting overseas regulatory authorities),
that it is expedient in the public interest that a company should be wound up, he may present a petition for it to be wound up if the court thinks it just and equitable for it to be so.
(2)This section does not apply if the company is already being wound up by the court.]
Textual Amendments
F1S. 124A inserted by Companies Act 1989 (c. 40, SIF 27), ss. 60(3), 213(2)
F2Words in s. 124A(1)(a) inserted (by Companies (Audit, Investigations and Community Enterprise) Act 2004 (c. 27), ss. 25(1), 65, Sch. 2 para. 27; S.I. 2004/3322, art. 2(2), Sch. 2 (subject to arts. 3-13)
F3S. 124A(b)(bb) substituted for s. 124A(b) (1.12.2001) by S.I. 2001/3649, arts. 1, 305
F4Words in s. 124A(1) substituted (1.4.1996) by virtue of 1995 c. 40, ss. 5, 7(2), Sch. 4 para. 56(2) and 1978 c. 30, s. 17(2)(a)
Modifications etc. (not altering text)
C1S. 124A applied (with modifications) (6.6.2013) by The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 (S.I. 2013/1388), Pt. 3 reg. 1, Sch. 2 paras. 3, 5 Table (with reg. 24)
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