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Insolvency Act 1986
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Changes over time for: Section 202
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Point in time view as at 01/10/2021.
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Insolvency Act 1986, Section 202 is up to date with all changes known to be in force on or before 13 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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202 Early dissolution (England and Wales).E+W+S
(1)This section applies where an order for the winding up of a company has been made by the court in England and Wales.
(2)The official receiver, if—
(a)he is the liquidator of the company, and
(b)it appears to him—
(i)that the realisable assets of the company are insufficient to cover the expenses of the winding up, and
(ii)that the affairs of the company do not require any further investigation,
may at any time apply to the registrar of companies for the early dissolution of the company.
F1(2A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(2B). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)Before making [F2an application under subsection (2)], the official receiver shall give not less than 28 days’ notice of his intention to do so to the company’s creditors [F3, other than opted-out creditors,] and contributories and, if there is an administrative receiver of the company, to that receiver.
(4)With the giving of that notice the official receiver ceases (subject to any directions under the next section) to be required to perform any duties imposed on him in relation to the company, its creditors or contributories by virtue of any provision of this Act, apart from a duty to make an application under subsection (2) F4....
(5)On the receipt of the official receivers’ application under subsection (2) F5... the registrar shall forthwith register it F6... and, at the end of the period of 3 months beginning with the day of the registration of the application, the company shall be dissolved F7....
F8(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F8(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F9(8) However, the Secretary of State may, on the application of the official receiver or any other person who appears to the Secretary of State to be interested, give directions under section 203 at any time before the end of [F10the period in subsection (5) F11...].]
Textual Amendments
F1S. 202(2A)(2B) omitted (31.12.2020) by virtue of The Insolvency (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/146), reg. 1(3), Sch. para. 25(2) (with regs. 4, 5); 2020 c. 1, Sch. 5 para. 1(1)
F2Words in s. 202(3) substituted (26.6.2017) by The Insolvency Amendment (EU 2015/848) Regulations 2017 (S.I. 2017/702), reg. 1, Sch. para. 10(3) (with regs. 3, 4)
F3Words in s. 202(3) inserted (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force, 6.4.2019 for S. in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 9 para. 49; S.I. 2015/1329, reg. 3(d); S.I. 2016/1020, reg. 4(e) (with reg. 5) (as amended by S.I. 2017/363, reg. 3); S.I. 2019/816, reg. 4(c) (with reg. 5)
F4Words in s. 202(4) omitted (31.12.2020) by virtue of The Insolvency (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/146), reg. 1(3), Sch. para. 25(3) (with regs. 4, 5); 2020 c. 1, Sch. 5 para. 1(1)
F5Words in s. 202(5) omitted (31.12.2020) by virtue of The Insolvency (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/146), reg. 1(3), Sch. para. 25(4)(a) (with regs. 4, 5); 2020 c. 1, Sch. 5 para. 1(1)
F6Words in s. 202(5) omitted (31.12.2020) by virtue of The Insolvency (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/146), reg. 1(3), Sch. para. 25(4)(b) (with regs. 4, 5); 2020 c. 1, Sch. 5 para. 1(1)
F7Words in s. 202(5) omitted (31.12.2020) by virtue of The Insolvency (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/146), reg. 1(3), Sch. para. 25(4)(c) (with regs. 4, 5); 2020 c. 1, Sch. 5 para. 1(1)
F8S. 202(6)(7) omitted (31.12.2020) by virtue of The Insolvency (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/146), reg. 1(3), Sch. para. 25(5) (with regs. 4, 5); 2020 c. 1, Sch. 5 para. 1(1)
F9S. 202(8): words in s. 202(5) renumbered as s. 202(8) (26.6.2017) by The Insolvency Amendment (EU 2015/848) Regulations 2017 (S.I. 2017/702), reg. 1, Sch. para. 10(6) (with regs. 3, 4)
F10Words in s. 202(5) substituted (26.6.2017) by The Insolvency Amendment (EU 2015/848) Regulations 2017 (S.I. 2017/702), reg. 1, Sch. para. 10(7) (with regs. 3, 4)
F11Words in s. 202(8) omitted (31.12.2020) by virtue of The Insolvency (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/146), reg. 1(3), Sch. para. 25(6) (with regs. 4, 5); 2020 c. 1, Sch. 5 para. 1(1)
Modifications etc. (not altering text)
C1Ss. 202, 203, 205 excluded (1.11.1994) by S.I. 1994/2759, reg. 3, Sch. 3 para. 91A(2)
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