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Insolvency Act 1986

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Changes to legislation:

Insolvency Act 1986, Section 259 is up to date with all changes known to be in force on or before 01 December 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. Help about Changes to Legislation

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Changes and effects yet to be applied to Section 259:

  • Act savings and transitional provisions for amendments by S.I. 2022/1166 by S.I. 2022/1172 Regulations

Changes and effects yet to be applied to the whole Act associated Parts and Chapters:

  • Act savings and transitional provisions for amendments by S.I. 2022/1166 by S.I. 2022/1172 Regulations

259 Report of decisions to court.E+W

[F1(1)When pursuant to section 257 the debtor's creditors have decided whether to approve the debtor's proposal (with or without modifications), the nominee (or the nominee's replacement under section 256(3) or 256A(4)) must—

(a)give notice of the creditors' decision to such persons as may be prescribed, and

(b)where the creditors considered the debtor's proposal pursuant to a report to the court under section 256(1)(aa), report the creditors' decision to the court.]

(2)If the report is that the [F2creditors have] declined (with or without modifications) to approve the [F3voluntary arrangement proposed under section 256], the court may discharge any interim order which is in force in relation to the debtor.

Textual Amendments

F1S. 259(1) substituted (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 9 para. 66(2); 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)

F2Words in s. 259(2) substituted (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 9 para. 66(3); 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)

Modifications etc. (not altering text)

C1Ss. 256–263 applied with modifications by S.I. 1986/1999, art. 3, Sch. I Pt. III

Yn ôl i’r brig

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