Insolvency Act 2000

Voluntary arrangements E+W+S

1 Moratorium where directors propose voluntary arrangement. E+W+S

Schedule 1 (which—

(a) enables the directors of a company to obtain an initial moratorium for the company where they propose a voluntary arrangement under Part I of the M1 Insolvency Act 1986,

(b) makes provision about the approval and implementation of such a voluntary arrangement where a moratorium is obtained, and

(c) makes consequential amendments),

is to have effect.

Commencement Information

I1 S. 1 wholly in force at 1.1.2003; s. 1 not in force at Royal Assent see s. 16(1); s. 1 in force for specified purposes at 11.5.2001 by S.I. 2001/1751, art. 2; S. 1 in force at 1.1.2003 insofar as not already in force by S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)

Marginal Citations

M1 1986 c. 45.

2 Company voluntary arrangements. E+W+S

Schedule 2 (which—

(a) amends the provisions about company voluntary arrangements under Part I of the M2 Insolvency Act 1986, and

(b) in consequence of Schedule 1 and those amendments, makes amendments of the M3 Building Societies Act 1986),

is to have effect.

Marginal Citations

M2 1986 c. 45.

M3 1986 c. 53.

3 Individual voluntary arrangements. E+W+S

Schedule 3 (which enables the procedure for the approval of individual voluntary arrangements under Part VIII of the M4 Insolvency Act 1986 to be started without an initial moratorium for the insolvent debtor and makes other amendments of the provisions about individual voluntary arrangements) is to have effect.

Marginal Citations

M4 1986 c. 45.

4 Qualification or authorisation of nominees and supervisors. E+W+S

(1) Part XIII of the M5 Insolvency Act 1986 (insolvency practitioners and their qualification) is amended as follows.

(2) In section 388 (meaning of “act as insolvency practitioner”)—

(a) for subsection (1)(b) there is substituted—

“(b) where a voluntary arrangement in relation to the company is proposed or approved under Part I, as nominee or supervisor”,

(b) for subsection (2)(c) there is substituted—

“(c) where a voluntary arrangement in relation to the individual is proposed or approved under Part VIII, as nominee or supervisor”,

and

(c) after subsection (2A) there is inserted—

“(2B) In relation to a voluntary arrangement proposed under Part I or VIII, a person acts as nominee if he performs any of the functions conferred on nominees under the Part in question.”

F1 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F2 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 S. 4(3) omitted (1.10.2015) by virtue of Deregulation Act 2015 (c. 20), s. 115(7), Sch. 6 para. 20(3); S.I. 2015/1732, art. 2(e)(vi)

F2 S. 4(4) omitted (1.10.2015) by virtue of Deregulation Act 2015 (c. 20), s. 115(7), Sch. 6 para. 20(3); S.I. 2015/1732, art. 2(e)(vi)

Marginal Citations

M5 1986 c. 45.