- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (06/04/2001)
- Gwreiddiol (Fel y'i Deddfwyd)
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Yn ddilys o 11/05/2001
11(1)Regulations made under paragraph 9 or 10 above shall not require any such amount or amounts as are mentioned in sub-paragraph (1)(b) of that paragraph (“the credit”) to be set against any such amount or amounts as are mentioned in sub-paragraph (1)(a) of that paragraph (“the debit”) in any case where—
(a)an insolvency procedure has been applied to the person entitled to the credit;
(b)the credit became due after that procedure was so applied; and
(c)the liability to pay the debit either arose before that procedure was so applied or (having arisen afterwards) relates to, or to matters occurring in the course of, the carrying on of any business at times before the procedure was so applied.
(2)For the purposes of this paragraph, an insolvency procedure is applied to a person if—
(a)a bankruptcy order, winding-up order or administration order is made in relation to that person or an award of sequestration is made on that person’s estate;
(b)that person is put into administrative receivership;
(c)that person passes a resolution for voluntary winding up;
(d)any voluntary arrangement approved in accordance with—
(i)Part 1 or 8 of the Insolvency Act 1986 (c. 45), or
(ii)Part II or Chapter II of Part VIII of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) ,
comes into force in relation to that person;
(e)a deed of arrangement registered in accordance with—
(i)the Deeds of Arrangement Act 1914 (c. 47), or
(ii)Chapter I of Part VIII of that Order,
takes effect in relation to that person;
(f)a person is appointed as the interim receiver of some or all of that person’s property under section 286 of the Insolvency Act 1986 or Article 259 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19));
(g)a person is appointed as the provisional liquidator in relation to that person under section 135 of that Act or Article 115 of that Order;
(h)an interim order is made under Part 8 of that Act, or Chapter I of Part VIII of that Order, in relation to that person; or
(i)that person’s estate becomes vested in any other person as that person’s trustee under a trust deed (within the meaning of the Bankruptcy (Scotland) Act 1985 (c. 66)).
(3)In this paragraph references, in relation to any person, to the application of an insolvency procedure to that person shall not include—
(a)the making of a bankruptcy order, winding-up order, administration order or award of sequestration at a time when any such arrangement or deed as is mentioned in paragraph (d), (e) or (i) of sub-paragraph (2) above is in force in relation to that person;
(b)the making of a winding-up order at any of the following times, that is to say—
(i)immediately upon the discharge of an administration order made in relation to that person;
(ii)when that person is being wound up voluntarily;
(iii)when that person is in administrative receivership;
or
(c)the making of an administration order in relation to that person at any time when that person is in administrative receivership.
(4)For the purposes of this paragraph a person shall be regarded as being in administrative receivership throughout any continuous period for which (disregarding any temporary vacancy in the office of receiver) there is an administrative receiver of that person.
(5)In this paragraph—
“administration order” means an administration order under section 8 of the Insolvency Act 1986 (c. 45) or Article 21 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) ;
“administrative receiver” means an administrative receiver within the meaning of section 251 of that Act of 1986 or Article 5(1) of that Order of 1989.
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