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The Insolvency (Northern Ireland) Order 1989

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The Insolvency (Northern Ireland) Order 1989 is up to date with all changes known to be in force on or before 25 November 2024. There are changes that may be brought into force at a future date. Help about Changes to Legislation

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Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the affected provisions when you open the content using the Table of Contents below.

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Changes and effects yet to be applied to :

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

Whole provisions yet to be inserted into this Order (including any effects on those provisions):

  • Sch. 9 Pt. 2 para. 66 revoked by 1996 c. 23 s. 107(2) Sch. 4 (Amendment could not be applied. The relevant affected text is not available on legislation.gov.uk)
  • art. 2B inserted by 2016 c. 2 (N.I.) s. 2(1)
  • art. 208ZA applied (with modifications) by S.I. 2021/716, reg. 37A (as inserted) by S.I. 2023/1399 reg. 12 (This amendment not applied to Legislation.gov.uk. S. 208ZA is inserted by the Insolvency (Amendment) Act (Northern Ireland) 2016 (c. 2), s. 1(1) which is currently prospective.)
  • art. 208ZA-208ZB inserted by 2016 c. 2 (N.I.) s. 1(1)
  • art. 208ZB applied (with modifications) by S.I. 2021/716, reg. 37A (as inserted) by S.I. 2023/1399 reg. 12 (This amendment not applied to Legislation.gov.uk. S. 208ZB is inserted by the Insolvency (Amendment) Act (Northern Ireland) 2016 (c. 2), s. 1(1) which is currently prospective.)
  • art. 345A-345B inserted by 2016 c. 2 (N.I.) s. 1(2)

  1. Introductory Text

  2. PART I INTRODUCTORY

    1. 1.Title and commencement

    2. 2.General interpretation

    3. 2A. Proceedings under EU Regulation: modified definition of property

    4. 3.“Act as insolvency practitioner”

    5. 4.“Associate”

    6. Interpretation for Parts 1A to 7

      1. 5.Interpretation

      2. 6.“Insolvency” and“go into liquidation”

      3. 7.“Connected with a company”

      4. 8.“Member of a company”

    7. Parts 7A to 10

      1. 9.Interpretation

      2. 10.“Security”, etc.

      3. 11.“Bankrupt's estate”

    8. Interpretation for this Order . . .

      1. 12.“Receiver or manager”

      2. 13.“Contributory”

  3. Parts 1A to 7 COMPANY INSOLVENCY; COMPANIES WINDING UP

  4. PART 1A Moratorium

    1. CHAPTER 1 Introductory

      1. 13A.Overview

      2. 13AA.Eligible companies

    2. CHAPTER 2 Obtaining a moratorium

      1. 13B.Obtaining a moratorium by filing documents at High Court

      2. 13BA.Obtaining a moratorium for company subject to winding-up petition

      3. 13BB.Obtaining a moratorium for other overseas companies

      4. 13BC.The relevant documents

      5. 13BD.Beginning of moratorium and appointment of monitor

      6. 13BE.Obligations to notify where moratorium comes into force

    3. CHAPTER 3 Length of moratorium

      1. Initial period

        1. 13C.End of the moratorium

      2. Extension of moratorium

        1. 13CA.Extension by directors without creditor consent

        2. 13CB.Extension by directors with creditor consent

        3. 13CC.Creditor consent for the purposes of Article 13CB

        4. 13CD.Extension by High Court on application of directors

        5. 13CE.Extension while proposal for CVA pending

        6. 13CF.Extension by High Court in the course of other proceedings

      3. Early termination on certain grounds

        1. 13CG.Company enters into insolvency procedure etc

      4. Obligations to notify change in end of moratorium

        1. 13CH.Obligations to notify change in end of moratorium

    4. CHAPTER 4 Effects of moratorium

      1. Introductory

        1. 13D.Overview and construction of references to payment holidays

      2. Publicity about moratorium

        1. 13DA.Publicity about moratorium

      3. Effect on creditors etc

        1. 13DB.Restrictions on insolvency proceedings etc

        2. 13DC.Restrictions on enforcement and legal proceedings

        3. 13DD.Floating charges

        4. 13DE.Enforcement of security granted during moratorium

      4. Notification of insolvency proceedings

        1. 13DF.Duty of directors to notify monitor of insolvency proceedings etc

      5. Restrictions on transactions

        1. 13DG.Restrictions on obtaining credit

        2. 13DH.Restrictions on grant of security etc

        3. 13DI.Prohibition on entering into market contracts etc

      6. Restrictions on payments and disposal of property

        1. 13DJ.Restrictions on payment of certain pre-moratorium debts

        2. 13DK.Restrictions on disposal of property

        3. 13DL.Restrictions on disposal of hire-purchase property

      7. Disposals of property free from charges etc

        1. 13DM.Disposal of charged property free from charge

        2. 13DN.Disposal of hire-purchase property

      8. Effect of contravention of certain provisions of Chapter

        1. 13DO.Contravention of certain requirements imposed under this Chapter

    5. CHAPTER 5 The monitor

      1. 13E.Status of monitor

      2. 13EA.Monitoring

      3. 13EB.Provision of information to monitor

      4. 13EC.Application by monitor for directions

      5. 13ED.Termination of moratorium by monitor

      6. 13EE.Replacement of monitor or appointment of additional monitor

      7. 13EF.Application of Part where two or more persons act as monitor

      8. 13EG.Presumption of validity

    6. CHAPTER 6 Challenges

      1. 13F.Challenge to monitor’s actions

      2. 13FA.Challenges to monitor remuneration in insolvency proceedings

      3. 13FB.Challenge to directors’ actions

      4. 13FC.Challenge brought by Board of the Pension Protection Fund

    7. CHAPTER 7 Offences: general

      1. 13G.Offence of fraud etc during or in anticipation of moratorium

      2. 13GA.Offence of false representation etc to obtain a moratorium

      3. 13GB.Prosecution of delinquent officers of company

    8. CHAPTER 8 Miscellaneous and general

      1. Special rules for certain kinds of company etc

        1. 13H.Regulated companies: modifications to this Part

        2. 13HA.Power to modify this Part etc in relation to certain companies

        3. 13HB.Power to make provision in connection with pension schemes

      2. Floating charges

        1. 13HC.Void provisions in floating charge documents

      3. Interpretation of this Part

        1. 13HD.Meaning of “pre-moratorium debt” and “moratorium debt”

        2. 13HE.Interpretation of this Part: general

      4. Regulations

        1. 13HF.Regulations

  5. PART II COMPANY VOLUNTARY ARRANGEMENTS

    1. The proposal

      1. 14.Those who may propose an arrangement

      2. 14A.Moratorium

      3. 15.Procedure where nominee is not the liquidator or administrator

      4. 16.Summoning of meetings

    2. Consideration and implementation of proposal

      1. 17.Decisions of meetings

      2. 17A.Approval of arrangement

      3. 18.Effect of approval

      4. 19.Challenge of decisions

      5. 19A.False representations, etc.

      6. 20.Implementation of proposal

      7. 20A.Prosecution of delinquent officers of company

      8. 20B.Arrangements coming to an end prematurely

  6. PART III ADMINISTRATION

    1. 21.Administration

  7. PART III ADMINISTRATION ORDERS

    1. Making, etc., of administration order

      1. 22.Application for order

      2. 23.Effect of application

      3. 24.Effect of order

      4. 25.Notification of order

    2. Administrators

      1. 26.Appointment of administrator

      2. 27.General powers

      3. 28.Power to deal with charged property, etc.

      4. 29.General duties

      5. 30.Discharge or variation of administration order

      6. 31.Vacation of office

      7. 32.Release of administrator

    3. Ascertainment and investigation of company's affairs

      1. 33.Information to be given by administrator

      2. 34.Statement of affairs to be submitted to administrator

    4. Administrator's proposals

      1. 35.Statement of proposals

      2. 36.Consideration of proposals by creditors' meeting

      3. 37.Approval of substantial revisions

    5. Miscellaneous

      1. 38.Creditors' committee

      2. 39.Protection of interests of creditors and members

  8. PART IV RECEIVERSHIP

    1. General Provisions

      1. 39A.Meaning of “company”

      2. 40.Disqualification of body corporate from acting as receiver

      3. 41.Disqualification of bankrupt

      4. 42.Power of High Court to appoint official receiver

    2. Receivers and managers appointed out of court

      1. 43.Time from which appointment is effective

      2. 44.Liability for invalid appointment

      3. 45.Application to High Court for directions

      4. 46.Power of High Court to fix remuneration

      5. 47.Liability for contracts, etc.

      6. 48.Receivership accounts to be delivered to registrar

    3. Provisions applicable to every receivership

      1. 49.Notification that receiver or manager appointed

      2. 50.Payment of debts out of assets subject to floating charge

      3. 51.Enforcement of duty to make returns

    4. Administrative receivers: general

      1. 52.General powers

      2. 53.Power to dispose of charged property, etc.

      3. 54.Agency and liability for contracts

      4. 55.Vacation of office

    5. Administrative receivers: ascertainment and investigation of company's affairs

      1. 56.Information to be given by administrative receiver

      2. 57.Statement of affairs to be submitted

      3. 58.Report by administrative receiver

      4. 59.Committee of creditors

    6. Prohibition of appointment of administrative receiver

      1. 59A.Floating charge holder not to appoint administrative receiver

      2. 59B.First exception: capital market

      3. 59C.Second exception: public-private partnership

      4. 59D.Third exception: utilities

      5. 59E.Fourth exception: urban regeneration projects

      6. 59F.Fifth exception: project finance

      7. 59G.Sixth exception: financial market

      8. 59H.Seventh exception: registered housing association

      9. 59I.Eighth exception: licence companies

      10. 59J.Articles 59A to 59I: supplementary

  9. PART V WINDING UP OF COMPANIES REGISTERED UNDER the Companies Act 2006

    1. CHAPTER I PRELIMINARY

      1. Introductory

        1. 60.Scheme of this Part

      2. Contributories

        1. 61.Liability as contributories of present and past members

        2. 62.Directors with unlimited liability

        3. 63.Liability of past directors and shareholders

        4. 64.Limited company formerly unlimited

        5. 65.Unlimited company formerly limited

        6. 66.Nature of contributory's liability

        7. 67.Contributories in case of death of a member

        8. 68.Effect of contributory's bankruptcy

        9. 69.Companies registered but not formed under the Companies Act 2006

    2. CHAPTER II VOLUNTARY WINDING UP (INTRODUCTORY AND GENERAL)

      1. Resolutions for, and commencement of, voluntary winding up

        1. 70.Circumstances in which company may be wound up voluntarily

        2. 71.Notice of resolution to wind up voluntarily

        3. 72.Commencement of voluntary winding up

      2. Consequences of resolution to wind up

        1. 73.Effect on business and status of company

        2. 74.Avoidance of share transfers, etc., after winding‐up resolution

      3. Declaration of solvency

        1. 75.Statutory declaration of solvency

        2. 76.Distinction between “members'” and “creditors'” voluntary winding up

    3. CHAPTER III MEMBERS' VOLUNTARY WINDING UP

      1. 77.Appointment of liquidator

      2. 78.Power to fill vacancy in office of liquidator

      3. 79.General company meeting at each year's end

      4. 80.Final meeting prior to dissolution

      5. 81.Effect of company's insolvency

      6. 82.Conversion to creditors' voluntary winding up

    4. CHAPTER IV CREDITORS' VOLUNTARY WINDING UP

      1. 83.Application of this Chapter

      2. 84.Meeting of creditors

      3. 85.Directors to lay statement of affairs before creditors

      4. 86.Appointment of liquidator

      5. 87.Appointment of liquidation committee

      6. 88.Creditors' meeting where winding up converted under Article 82

      7. 89.Cesser of directors' powers

      8. 90.Vacancy in office of liquidator

      9. 91.Meetings of company and creditors at each year's end

      10. 92.Final meeting prior to dissolution

    5. CHAPTER V PROVISIONS APPLYING TO BOTH KINDS OF VOLUNTARY WINDING UP

      1. 93.Distribution of company's property

      2. 94.Appointment or removal of liquidator by the High Court

      3. 95.Notice by liquidator of his appointment

      4. 96.Acceptance of shares, etc., as consideration for sale of company's property

      5. 97.Dissent from arrangement under Article 96

      6. 98.Reference of questions to the High Court

      7. 99.No liquidator appointed or nominated by company

      8. 100.Expenses of voluntary winding up

      9. 101.Saving for certain rights

    6. CHAPTER VI WINDING UP BY THE HIGH COURT

      1. Grounds and effect of winding‐up petition

        1. 102.Circumstances in which company may be wound up by the High Court

        2. 103.Definition of inability to pay debts; the statutory demand

        3. 104.Application for winding up

        4. 104A. Petition for winding up on grounds of public interest

        5. 104B. Petition for winding up of SE

        6. 104C.Petition for winding up of SCE

        7. 105.Powers of High Court on hearing of petition

        8. 106.Power to stay or restrain proceedings against company

        9. 107.Avoidance of property dispositions, etc.

        10. 108.Avoidance of sequestration or distress

      2. Commencement of winding up

        1. 109.Commencement of winding up by the High Court

        2. 110.Consequences of winding‐up order

      3. Investigation procedures

        1. 111.Company's statement of affairs

        2. 112.Investigation by official receiver

        3. 113.Public examination of officers

        4. 114.Enforcement of Article 113

      4. Appointment of liquidator

        1. 115.Appointment and powers of provisional liquidator

        2. 116.Functions of official receiver in relation to office of liquidator

        3. 117.Appointment by Department

        4. 118.Choice of liquidator at meetings of creditors and contributories

        5. 119.Appointment by the High Court following administration or voluntary arrangement

      5. Liquidation committees

        1. 120.Liquidation committee

      6. The liquidator's functions

        1. 121.General functions in winding up by the High Court

        2. 122.Custody of company's property

        3. 123.Vesting of company property in liquidator

        4. 124.Duty to summon final meeting

        5. 124A.Official receiver’s duty to send statement to registrar about other proceedings—

      7. General powers of High Court

        1. 125.Power to stay winding up

        2. 126.Settlement of list of contributories and application of assets

        3. 127.Debts due from contributory to company

        4. 128.Power to make calls

        5. 129.Payment into bank of money due to company

        6. 130.Order on contributory to be conclusive evidence

        7. 131.Power to exclude creditors not proving in time

        8. 132.Adjustment of rights of contributories

        9. 133.Inspection of books by creditors, etc.

        10. 134.Payment of expenses of winding up

        11. 135.Power to arrest absconding contributory

        12. 136.Powers of High Court to be cumulative

        13. 137.Delegation of powers to liquidator

    7. CHAPTER VII LIQUIDATORS

      1. Preliminary

        1. 138.Style and title of liquidators

        2. 139.Corrupt inducement affecting appointment

      2. Liquidator's powers and duties

        1. 140.Voluntary winding up

        2. 141.Creditors' voluntary winding up

        3. 142.Winding up by the High Court

        4. 143.Supplementary powers

        5. 144.Enforcement of liquidator's duty to make returns, etc.

      3. Removal: vacation of office

        1. 145.Removal, etc. (voluntary winding up)

        2. 146.Removal, etc. (winding up by the High Court)

      4. Release of liquidator

        1. 147.Release (voluntary winding up)

        2. 148.Release (winding up by the High Court)

    8. CHAPTER VIII PROVISIONS OF GENERAL APPLICATION IN WINDING UP

      1. Moratorium: order of priority of payment of debts

        1. 148A.Moratorium debts etc: priority

      2. Preferential debts

        1. 149.Preferential debts (general provision)

        2. 150.Preferential charge on goods distrained , etc

      3. Non-preferential debts

        1. 150ZZA.Non-preferential debts of financial institutions

      4. Property subject to floating charge

        1. 150ZA.Payment of expenses of winding up

        2. 150A.Share of assets for unsecured creditors

      5. Special managers

        1. 151.Power to appoint special manager

      6. Disclaimer

        1. 152.Power to disclaim onerous property

        2. 153.Disclaimer of leaseholds

        3. 154.Land subject to rentcharge

        4. 155.Powers of High Court (general)

        5. 156.Powers of High Court (leaseholds)

      7. Miscellaneous matters

        1. 157.Rescission of contracts by the High Court

        2. 158.Power to make over assets to employees

        3. 159.Notification that company is in liquidation

        4. 160.Interest on debts

        5. 161.Company's books to be evidence

        6. 162.Information as to pending liquidations

        7. 163.Resolutions passed at adjourned meetings

        8. 164.Meeting to ascertain wishes of creditors or contributories

        9. 165.Affidavits, etc., in United Kingdom and elsewhere

    9. CHAPTER IX DISSOLUTION OF COMPANIES AFTER WINDING UP

      1. 166.Dissolution (voluntary winding up)

      2. 167.Early dissolution

      3. 168.Consequence of notice under Article 167

      4. 169.Dissolution otherwise than under Article 167

    10. CHAPTER X MALPRACTICE BEFORE AND DURING LIQUIDATION; PENALISATION OF COMPANIES AND COMPANY OFFICERS; INVESTIGATIONS AND PROSECUTIONS

      1. Offences of fraud, deception, etc.

        1. 170.Fraud, etc., in anticipation of winding up

        2. 171.Transactions in fraud of creditors

        3. 172.Misconduct in course of winding up

        4. 173.Falsification of company's books

        5. 174.Material omissions from statement relating to company's affairs

        6. 175.False representations to creditors

      2. Penalisation of directors and officers

        1. 176.Summary remedy against delinquent directors, liquidators, etc.

        2. 177.Fraudulent trading

        3. 178.Wrongful trading

        4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        5. 179.Proceedings under Articles 177 and 178

        6. 180.Restriction on re‐use of company names

        7. 181.Personal liability for debts, following contravention of Article 180

      3. Investigation and prosecution of malpractice

        1. 182.Prosecution of delinquent officers and members of company

        2. 183.Obligations arising under Article 182

  10. PART VI WINDING UP OF UNREGISTERED COMPANIES

    1. 184.Meaning of “unregistered company”

    2. 185.Winding up of unregistered companies

    3. 186.Inability to pay debts: unpaid creditor for £750 or more

    4. 187.Inability to pay debts: debt remaining unsatisfied after action brought

    5. 188.Inability to pay debts: other cases

    6. 189.Company incorporated outside Northern Ireland may be wound up though dissolved

    7. 190.Contributories in winding up of unregistered company

    8. 191.Power of High Court to stay or restrain proceedings

    9. 192.Actions stayed on winding‐up order

    10. 193.Provisions of this Part to be cumulative

  11. PART VII MISCELLANEOUS PROVISIONS APPLYING TO COMPANIES WHICH ARE INSOLVENT OR IN LIQUIDATION

    1. Office‐holders

      1. 194.Holders of office to be qualified insolvency practitioners

      2. 195.Appointment to office of two or more persons

      3. 196.Validity of office‐holder's acts

    2. Management by administrators, liquidators, etc.

      1. 197.Supplies of water, electricity, etc.

      2. 197A.Further protection of essential supplies

      3. 197B.Protection of supplies of goods and services

      4. 197C.Powers to amend Article 197B and Schedule 2ZZA

      5. 198.Getting in the company's property

      6. 199.Duty to co‐operate with office‐holder

      7. 200.Inquiry into company's dealings, etc.

      8. 201.High Court's enforcement powers under Article 200

    3. Adjustment of prior transactions (administration and liquidation)

      1. 202.Transactions at an undervalue

      2. 203.Preferences

      3. 204.“Relevant time” under Articles 202, 203

      4. 205.Orders under Articles 202, 203

      5. 206.Extortionate credit transactions

      6. 207.Avoidance of certain floating charges

      7. 208.Unenforceability of liens on books, etc.

  12. PARTS 7A TO 10 INSOLVENCY OF INDIVIDUALS; BANKRUPTCY

  13. PART 7A DEBT RELIEF ORDERS

    1. Preliminary

      1. 208A.Debt relief orders

    2. Applications for a debt relief order

      1. 208B.Making of application

      2. 208C.Duty of official receiver to consider and determine application

      3. 208D.Presumptions applicable to the determination of an application

    3. Making and effect of debt relief order

      1. 208E.Making of debt relief orders

      2. 208F.Effect of debt relief order on administration order

      3. 208G.Moratorium from qualifying debts

      4. 208H.The moratorium period

      5. 208I.Discharge from qualifying debts

    4. Duties of debtor

      1. 208J.Providing assistance to official receiver, etc.

    5. Objections, investigations and revocation

      1. 208K.Objections and investigations

      2. 208L.Power of official receiver to revoke or amend a debt relief order

    6. Role of the High Court

      1. 208M.Powers of High Court in relation to debt relief orders

      2. 208N.Inquiry into debtor's dealings and property

    7. Offences

      1. 208O.False representations and omissions

      2. 208P.Concealment or falsification of documents

      3. 208Q.Fraudulent disposal of property

      4. 208R.Fraudulent dealing with property obtained on credit

      5. 208S.Obtaining credit or engaging in business

      6. 208T.Offences: supplementary

    8. Supplementary

      1. 208U.Approved intermediaries

      2. 208V.Debt relief restrictions orders and undertakings

      3. 208W.Register of debt relief orders, etc.

      4. 208X.Interpretation

  14. PART VIII INDIVIDUAL VOLUNTARY ARRANGEMENTS

    1. CHAPTER I DEEDS OF ARRANGEMENT

      1. 209.Deeds of arrangement to which this Chapter applies

      2. Registration of deeds of arrangement

        1. 210.Registrar and deputy registrar

        2. 211.Mode of registration

        3. 212.Form of register

        4. 213.Rectification of register

      3. Avoidance of deeds of arrangement

        1. 214.Avoidance of unregistered deeds of arrangement

        2. 215.Avoidance of deeds of arrangement unless assented to by a majority of the creditors

        3. 216.Deeds otherwise void or voidable

      4. Provisions as to trustees

        1. 217.Notice to creditors of avoidance of deed

        2. 218.Trustee acting when deed of arrangement void

        3. 219.Protection of trustees under void deeds

        4. 220.Payment of expenses incurred by trustees

        5. 221.Security by trustee

        6. 222.Transmission of accounts

        7. 223.Preferential payment to creditor

      5. Miscellaneous

        1. 224.Applications to the High Court

        2. 225.Inspection of register, etc., certified copies and evidence

    2. CHAPTER II VOLUNTARY ARRANGEMENTS

      1. Moratorium for insolvent debtor

        1. 226.Interim order of High Court

        2. 227.Application for interim order

        3. 228.Effect of application

        4. 229.Cases in which interim order can be made

        5. 230.Nominee's report on debtor's proposal

      2. Procedure where no interim order made

        1. 230A.Debtor's proposal and nominee's report

      3. Creditors' meeting

        1. 231.Summoning of creditors' meeting

      4. Consideration and implementation of debtor's proposal

        1. 232.Decisions of creditors' meeting

        2. 233.Report of decisions to High Court

        3. 234.Effect of approval

        4. 235.Additional effect on undischarged bankrupt

        5. 236.Challenge of meeting's decision

        6. 236A. False representations etc.

        7. 236B.Prosecution of delinquent debtors

        8. 236C.Arrangements coming to an end prematurely

        9. 237.Implementation and supervision of approved voluntary arrangement

      5. Fast-track voluntary arrangement

        1. 237A.Availability

        2. 237B.Decision

        3. 237C.Result

        4. 237D.Approval of voluntary arrangement

        5. 237E.Implementation

        6. 237F.Revocation

        7. 237G.Offences

  15. PART IX BANKRUPTCY

    1. CHAPTER I BANKRUPTCY PETITIONS; BANKRUPTCY ORDERS

      1. Preliminary

        1. 238.Who may present a bankruptcy petition

        2. 239.Conditions to be satisfied in respect of debtor

        3. 240.Other preliminary conditions

      2. Creditor's petition

        1. 241.Grounds of creditor's petition

        2. 242.Definition of “inability to pay”, etc.; the statutory demand

        3. 243.Creditor with security

        4. 244.Expedited petition

        5. 245.Proceedings on creditor's petition

      3. Debtor's petition

        1. 246.Grounds of debtor's petition

        2. 247.Appointment of insolvency practitioner by the High Court

        3. 248.Action on report of insolvency practitioner

        4. 248A. Debtor who meets conditions for a debt relief order

        5. 249.Summary administration

      4. Other cases for special consideration

        1. 250.Default in connection with voluntary arrangement

        2. 251.Petition in respect of a solicitor

      5. Commencement and duration of bankruptcy; discharge

        1. 252.Commencement and continuance

        2. 253.Duration

        3. 254.Discharge where bankrupt is a solicitor

        4. 255.Effect of discharge

        5. 255A.Post-discharge restrictions

        6. 256.Power of High Court to annul bankruptcy order

    2. CHAPTER II PROTECTION OF BANKRUPT'S ESTATE AND INVESTIGATION OF HIS AFFAIRS

      1. 256A.Bankrupt's home ceasing to form part of estate

      2. 257.Restrictions on dispositions of property

      3. 258.Restriction on proceedings and remedies

      4. 259.Power to appoint interim receiver

      5. 260.Receivership pending appointment of trustee

      6. 261.Statement of affairs

      7. 262.Investigatory duties of official receiver

      8. 263.Public examination of bankrupt

      9. 264.Duties of bankrupt in relation to official receiver

    3. CHAPTER III TRUSTEES IN BANKRUPTCY

      1. Tenure of office as trustee

        1. 265.Power to make appointments

        2. 266.Summoning of meeting to appoint first trustee

        3. 267.Power of creditors to requisition meeting

        4. 268.Failure of meeting to appoint trustee

        5. 269.Appointment of trustee by Department

        6. 270.Special cases

        7. 271.Removal of trustee; vacation of office

        8. 272.Release of trustee

        9. 273.Vacancy in office of trustee

      2. Control of trustee

        1. 274.Creditors' committee

        2. 275.Exercise by Department of functions of creditors' committee

        3. 276.General control of trustee by the High Court

        4. 277.Liability of trustee

    4. CHAPTER IV ADMINISTRATION BY TRUSTEE

      1. Preliminary

        1. 278.General functions of trustee

      2. Acquisition, control and realisation of bankrupt's estate

        1. 279.Vesting of bankrupt's estate in trustee

        2. 279A. Property subject to restraint order

        3. 279AA.Property released from detention

        4. 279B. Property in respect of which receivership or administration order made

        5. 279BA.Property in respect of which realisation order made

        6. 279C. Property subject to certain orders where confiscation order discharged or quashed

        7. 280.After‐acquired property

        8. 281.Vesting in trustee of certain items of excess value

        9. 282.Time‐limit for notice under Article 280 or 281

        10. 283.Income payments orders

        11. 283A.Income payments agreement

        12. 284.Acquisition by trustee of control

        13. 285.Obligation to surrender control to trustee

        14. 286.Charge on bankrupt's home

        15. 286A.Low value home: application for sale, possession or charge

        16. 287.Powers of trustee

      3. Disclaimer of onerous property

        1. 288.Disclaimer (general power)

        2. 289.Notice requiring trustee's decision

        3. 290.Disclaimer of leaseholds

        4. 291.Disclaimer of dwelling house

        5. 292.Disclaimer of land subject to rentcharge

        6. 293.High Court order vesting disclaimed property

        7. 294.Order under Article 293 in respect of leaseholds

      4. Distribution of bankrupt's estate

        1. 295.Proof of debts

        2. 296.Mutual credit and set‐off

        3. 297.Distribution by means of dividend

        4. 298.Claims by unsatisfied creditors

        5. 299.Distribution of property in specie

        6. 300.Priority of debts

        7. 301.Preferential charge on goods distrained

        8. 302.Debts to spouse or civil partner

        9. 303.Final distribution

        10. 304.Final meeting

        11. 305.Saving for bankrupt's home

      5. Supplemental

        1. 306.Duties of bankrupt in relation to trustee

        2. 307.Stay of distribution in case of second bankruptcy

        3. 308.Adjustment between earlier and later bankruptcy estates

    5. CHAPTER V EFFECT OF BANKRUPTCY ON CERTAIN RIGHTS, TRANSACTIONS, ETC.

      1. Rights of occupation

        1. 309.Rights of occupation, etc., of bankrupt's spouse or civil partner

        2. 310.Rights of occupation of bankrupt

        3. 311.Payments in respect of premises occupied by bankrupt

      2. Adjustment of prior transactions, etc.

        1. 312.Transactions at an undervalue

        2. 313.Preferences

        3. 314.“Relevant time” under Articles 312, 313

        4. 315.Orders under Articles 312, 313

        5. 315A. Recovery of excessive pension contributions

        6. 315B.Orders under Article 315A

        7. 315C.Orders under Article 315A: supplementary

        8. 315D. Recovery of excessive contributions in pension-sharing cases

        9. 315E.Orders under Article 312 or 313 in respect of pension-sharing transactions

        10. 315F.Orders under Article 312 or 313 in pension-sharing cases: supplementary

        11. 316.Extortionate credit transactions

        12. 317.Avoidance of general assignment of book debts

        13. 318.Contracts to which bankrupt is a party

        14. 319.Apprenticeships, etc.

        15. 320.Unenforceability of liens on books, etc.

        16. 320A. Arbitration agreements to which bankrupt is party.

    6. CHAPTER VI BANKRUPTCY OFFENCES

      1. Preliminary

        1. 321.Scheme of this Chapter

        2. 322.Definitions for the purposes of this Chapter

        3. 323.Defence of innocent intention

      2. Wrongdoing by the bankrupt before and after bankruptcy

        1. 324.Non‐disclosure

        2. 325.Concealment of property

        3. 326.Concealment of books and papers; falsification

        4. 327.False statements

        5. 328.Fraudulent disposal of property

        6. 329.Absconding

        7. 330.Fraudulent dealing with property obtained on credit

        8. 331.Obtaining credit; engaging in business

        9. 332.Failure to keep proper accounts of business

        10. 333.Gambling

    7. CHAPTER VII POWERS OF HIGH COURT IN BANKRUPTCY

      1. 334.General control of High Court

      2. 335.Power of arrest

      3. 336.Seizure of bankrupt's property

      4. 337.Inquiry into bankrupt's dealings and property

      5. 338.High Court's enforcement powers under Article 337

      6. 339.Provision corresponding to Article 337, where interim receiver appointed

      7. 340.Order for production of documents by Inland Revenue

      8. 341.Power to appoint special manager

      9. 342.Re‐direction of bankrupt's letters, etc.

  16. PART X INDIVIDUAL INSOLVENCY: GENERAL PROVISIONS

    1. 343.Supplies of water, electricity, etc.

    2. 344.Time‐limits

    3. 345.Formal defects

  17. PARTS XI TO XIV MISCELLANEOUS MATTERS BEARING ON BOTH COMPANY AND INDIVIDUAL INSOLVENCY

  18. PART XI PREFERENTIAL AND NON-PREFERENTIAL DEBTS IN COMPANY AND INDIVIDUAL INSOLVENCY

    1. 346.Categories of preferential debts

    2. 347.“The relevant date”

    3. 347A.Financial institutions and their non-preferential debts

  19. PART XII INSOLVENCY PRACTITIONERS AND THEIR QUALIFICATION

    1. Restrictions on unqualified persons acting as liquidator, trustee in bankruptcy, etc.

      1. 348.Acting as insolvency practitioner without qualification

      2. 348A.Authorisation of nominees and supervisors

      3. 348B.Official receiver as nominee or supervisor

    2. The requisite qualification, and the means of obtaining it

      1. 349.Persons not qualified to act as insolvency practitioners

      2. 349A.Authorisation

      3. 349B.Partial authorisation: acting in relation to partnerships

      4. 350.Recognised professional bodies

      5. 350A.Application for recognition as recognised professional body

    3. Regulatory objectives

      1. 350B.Application of regulatory objectives

      2. 350C.Meaning of “regulatory functions” and “regulatory objectives”

    4. Oversight of recognised professional bodies

      1. 350D.Directions

      2. 350E.Directions: procedure

      3. 350F.Financial penalty

      4. 350G.Financial penalty: procedure

      5. 350H.Appeal against financial penalty

      6. 350I.Recovery of financial penalties

      7. 350J.Reprimand

      8. 350K.Reprimand: procedure

    5. Revocation etc. of recognition

      1. 350L.Revocation of recognition at instigation of Department

      2. 350M.Orders under Article 350L: procedure

      3. 350N.Revocation of recognition at request of body

    6. Court sanction of insolvency practitioners in public interest cases

      1. 350O.Direct sanction orders

      2. 350P.Application for, and power to make, direct sanctions order

      3. 350Q.Direct sanctions order: conditions

      4. 350R.Direct sanctions direction instead of order

    7. General

      1. 350S.Power for Department to obtain information

      2. 350T.Compliance orders

      3. 351.Authorisation by competent authority

      4. 352.Grant, refusal and withdrawal of authorisation

      5. 353.Notices

      6. 354.Right to make representations

  20. PART XIII PUBLIC ADMINISTRATION

    1. Official receivers

      1. 355.Appointment, etc., of official receivers

      2. 356.Functions and status of official receivers

      3. 357.Deputy official receivers

    2. Insolvency Account

      1. 358.Insolvency Account

      2. 358A.Adjustment of balances

    3. Insolvency rules

      1. [[[359.Insolvency rules

      2. 360.Committee to review rules under Article 359

    4. Fees

      1. [[[361.Fees orders

      2. 361A.Fees orders (supplementary)

    5. Specification, increase and reduction of money sums relevant in the operation of this Order

      1. 362.Monetary limits

    6. Insolvency practice

      1. 363.Regulations for purposes of Part XII

    7. Other order‐making powers

      1. 364.Insolvent partnerships

      2. 365.Insolvent estates of deceased persons

      3. 365A.Insolvent estates: joint tenancies

      4. 366.Formerly authorised banks

      5. 366A.Meaning of “relevant offence”

  21. PART XIV MISCELLANEOUS

    1. Provisions against debt avoidance

      1. 367.Transactions defrauding creditors

      2. 368.Those who may apply for an order under Article 367

      3. 369.Provision which may be made by order under Article 367

    2. Disqualifications, reviews and reports

      1. 370.Assembly disqualification

      2. 370A.Irrelevance of privilege

      3. 371.Review, etc., by High Court of its orders

      4. 372.Annual report

    3. Legal proceedings

      1. 373.Prosecution and punishment of offences

      2. 374.Summary proceedings

      3. [[375.Admissibility in evidence of statements of affairs, etc.

    4. Supplemental

      1. 376.Judicial notice of court documents

      2. 377.Exemption from stamp duty

      3. 378.Crown application

      4. 379.Transitional provisions and savings

      5. Art.380 rep. by 1996 NI 16

      6. Art.381—Amendments

      7. Art.382—Repeals

  22. PART 15 SUPPLEMENTARY PROVISIONS

    1. 383.Introductory

    2. 384.Representation of corporations at meetings

    3. 385.Legal professional privilege

    4. 386.Enforcement of company's filing obligations

    5. 387.Application of filing obligations to overseas companies

  23. SCHEDULES

    1. SCHEDULE ZA1

      MORATORIUM: ELIGIBLE COMPANIES

      1. Eligible companies

        1. 1.A company is “ eligible ” for the purposes of...

      2. Companies subject to, or recently subject to, moratorium or an insolvency procedure

        1. 2.(1) A company is excluded from being eligible if—

      3. Insurance companies

        1. 3.(1) A company is excluded from being eligible if—

      4. Banks

        1. 4.(1) A company is excluded from being eligible if—

      5. Electronic money institutions

        1. 5.A company is excluded from being eligible if it is...

      6. Investment banks and investment firms

        1. 6.(1) A company is excluded from being eligible if it...

      7. Companies that are party to market contracts or subject to market charges, etc

        1. 7.(1) A company is excluded from being eligible if it...

      8. Participants in designated systems

        1. 8.A company is excluded from being eligible if—

      9. Payment institutions

        1. 9.A company is excluded from being eligible if it is...

      10. Operators of payment systems, infrastructure providers etc

        1. 10.A company is excluded from being eligible if—

      11. Recognised investment exchanges, clearing houses and CSDs

        1. 11.A company is excluded from being eligible if it is...

      12. Securitisation companies

        1. 12.A company is excluded from being eligible if it is...

      13. Parties to capital market arrangement

        1. 13.(1) A company is excluded from being eligible if, on...

        2. 14.(1) For the purposes of paragraph 13 an investment is...

      14. Public-private partnership project companies

        1. 15.(1) A company is excluded from being eligible if, on...

        2. 16.(1) For the purposes of paragraph 15 “ public-private partnership...

        3. 17.(1) For the purposes of paragraph 15 a project has...

      15. Overseas companies with corresponding functions

        1. 18.A company is excluded from being eligible if its registered...

      16. Interpretation of Schedule

        1. 19.(1) This paragraph applies for the purposes of this Schedule....

      17. Power to amend Schedule

        1. 20.(1) Regulations may amend this Schedule, apart from paragraph 2,...

    2. SCHEDULE ZA2

      MORATORIUM: CONTRACT OR OTHER INSTRUMENT INVOLVING FINANCIAL SERVICES

      1. Introductory

        1. 1.For the purposes of Article 13D “ contract or other...

      2. Financial contracts

        1. 2.(1) This paragraph applies to a financial contract.

      3. Securities financing transactions

        1. 3.(1) This paragraph applies to— (a) a securities financing transaction,...

      4. Derivatives

        1. 4.(1) This paragraph applies to— (a) a derivative, and

      5. Spot contracts

        1. 5.(1) This paragraph applies to— (a) a spot contract, and...

      6. Capital market investments

        1. 6.(1) This paragraph applies to an agreement which is, or...

      7. Contracts forming part of a public-private partnership

        1. 7.This paragraph applies to a contract forming part of a...

      8. Market contracts

        1. 8.This paragraph applies to a market contract within the meaning...

      9. Qualifying collateral arrangements and qualifying property transfers

        1. 9.This paragraph applies to qualifying collateral arrangements and qualifying property...

      10. Contracts secured by certain charges or arrangements

        1. 10.This paragraph applies to a contract where any obligation under...

      11. Default arrangements and transfer orders

        1. 11.This paragraph applies to a contract which is included in...

      12. Card-based payment transactions

        1. 12.This paragraph applies to a contract to accept and process...

      13. Power to amend Schedule

        1. 13.(1) Regulations may amend this Schedule so as to change...

    3. SCHEDULE A1

      MORATORIUM WHERE DIRECTORS PROPOSE VOLUNTARY ARRANGEMENT

      1. PART I INTRODUCTORY

        1. Interpretation

          1. 1.. . . . . . . . . ....

        2. Eligible companies

          1. 2.. . . . . . . . . ....

          2. 3.. . . . . . . . . ....

          3. 4.. . . . . . . . . ....

        3. Capital market arrangement

          1. 5.. . . . . . . . . ....

        4. Public private partnership

          1. 6.. . . . . . . . . ....

        5. Liability under an arrangement

          1. 7.. . . . . . . . . ....

        6. Interpretation of capital market arrangement

          1. 8.. . . . . . . . . ....

        7. Capital market investment

          1. 9.. . . . . . . . . ....

          2. 10.. . . . . . . . . ....

        8. Debt

          1. 11.. . . . . . . . . ....

        9. Interpretation of project company

          1. 12.. . . . . . . . . ....

        10. Public-private partnership project

          1. 13.. . . . . . . . . ....

        11. Step-in rights

          1. 14.. . . . . . . . . ....

        12. “Person”

          1. 15.. . . . . . . . . ....

          2. 16.. . . . . . . . . ....

      2. PART II OBTAINING A MORATORIUM

        1. Nominee's statement

          1. 17.. . . . . . . . . ....

        2. Documents to be submitted to High Court

          1. 18.. . . . . . . . . ....

        3. Duration of moratorium

          1. 19.. . . . . . . . . ....

        4. Notification of beginning of moratorium

          1. 20.. . . . . . . . . ....

          2. 21.. . . . . . . . . ....

        5. Notification of end of moratorium

          1. 22.. . . . . . . . . ....

      3. PART III EFFECTS OF MORATORIUM

        1. Effect on creditors, etc.

          1. 23.. . . . . . . . . ....

          2. 24.. . . . . . . . . ....

          3. 25.. . . . . . . . . ....

        2. Effect on company

          1. 26.. . . . . . . . . ....

        3. Company invoices, etc.

          1. 27.. . . . . . . . . ....

        4. Obtaining credit during moratorium

          1. 28.. . . . . . . . . ....

        5. Disposals and payments

          1. 29.. . . . . . . . . ....

          2. 30.. . . . . . . . . ....

        6. Disposal of charged property, etc.

          1. 31.. . . . . . . . . ....

          2. 32.. . . . . . . . . ....

        7. Market contracts, etc.

          1. 33.. . . . . . . . . ....

      4. PART IV NOMINEES

        1. Monitoring of company's activities

          1. 34.. . . . . . . . . ....

        2. Withdrawal of consent to act

          1. 35.. . . . . . . . . ....

        3. Challenge of nominee's actions, etc.

          1. 36.. . . . . . . . . ....

          2. 37.. . . . . . . . . ....

        4. Replacement of nominee by High Court

          1. 38.(1) The High Court may— (a) on an application made...

      5. PART V CONSIDERATION AND IMPLEMENTATION OF VOLUNTARY ARRANGEMENT

        1. Summoning of meetings

          1. 39.. . . . . . . . . ....

        2. Conduct of meetings

          1. 40.. . . . . . . . . ....

        3. Approval of voluntary arrangement

          1. 41.(1) The meetings summoned under paragraph 39 shall decide whether...

        4. Extension of moratorium

          1. 42.. . . . . . . . . ....

          2. 43.(1) The conditions which may be imposed when a moratorium...

          3. 44.. . . . . . . . . ....

        5. Moratorium committee

          1. 45.. . . . . . . . . ....

        6. Effectiveness of decisions

          1. 46.. . . . . . . . . ....

        7. Effect of approval of voluntary arrangement

          1. 47.. . . . . . . . . ....

        8. Challenge of decisions

          1. 48.. . . . . . . . . ....

        9. Implementation of voluntary arrangement

          1. 49.(1) This paragraph applies where a voluntary arrangement approved by...

      6. PART VI MISCELLANEOUS

        1. Challenge of directors' actions

          1. 50.. . . . . . . . . ....

        2. Offences

          1. 51.. . . . . . . . . ....

          2. 52.. . . . . . . . . ....

        3. Void provisions in floating charge documents

          1. 53.. . . . . . . . . ....

        4. Functions of the Financial Conduct Authority and the Prudential Regulation Authority

          1. 54.. . . . . . . . . ....

        5. Subordinate legislation

          1. 55.. . . . . . . . . ....

    4. SCHEDULE B1

      ADMINISTRATION

      1. ARRANGEMENT OF SCHEDULE

      2. INTRODUCTORY

        1. Interpretation

          1. 1.(1) In this Schedule— “ administrative receiver ” has the...

        2. Non-UK companies

          1. 1A.A company incorporated outside the United Kingdom that has a...

      3. NATURE OF ADMINISTRATION

        1. Administration

          1. 2.(1) For the purposes of this Order “ administrator ”...

          2. 3.A person may be appointed as administrator of a company—...

        2. Purpose of administration

          1. 4.(1) The administrator of a company must perform his functions...

          2. 5.The administrator of a company must perform his functions as...

        3. Status of administrator

          1. 6.An administrator is an officer of the High Court (whether...

        4. General restrictions

          1. 7.A person may be appointed as administrator of a company...

          2. 8.A person may not be appointed as administrator of a...

          3. 9.(1) A person may not be appointed as administrator of...

          4. 10.(1) A person may not be appointed as administrator of...

      4. APPOINTMENT OF ADMINISTRATOR BY HIGH COURT

        1. Administration order

          1. 11.An administration order is an order appointing a person as...

        2. Conditions for making order

          1. 12.The High Court may make an administration order in relation...

        3. Administration application

          1. 13.(1) An application to the High Court for an administration...

        4. Powers of High Court

          1. 14.(1) On hearing an administration application the High Court may—...

      5. APPOINTMENT OF ADMINISTRATOR BY HOLDER OF FLOATING CHARGE

        1. Power to appoint

          1. 15.(1) The holder of a qualifying floating charge in respect...

        2. Restrictions on power to appoint

          1. 16.(1) A person may not appoint an administrator under paragraph...

          2. 17.An administrator may not be appointed under paragraph 15 while...

          3. 18.An administrator of a company may not be appointed under...

        3. Notice of appointment

          1. 19.(1) A person who appoints an administrator of a company...

        4. Commencement of appointment

          1. 20.The appointment of an administrator under paragraph 15 takes effect...

          2. 21.A person who appoints an administrator under paragraph 15—

        5. Invalid appointment: indemnity

          1. 22.(1) This paragraph applies where— (a) a person purports to...

      6. APPOINTMENT OF ADMINISTRATOR BY COMPANY OR DIRECTORS

        1. Power to appoint

          1. 23.(1) A company may appoint an administrator.

        2. Restrictions on power to appoint

          1. 24.(1) This paragraph applies where an administrator of a company...

          2. 25.(1) If a moratorium for a company under Schedule A1...

          3. 26.An administrator of a company may not be appointed under...

        3. Notice of intention to appoint

          1. 27.(1) A person who proposes to make an appointment under...

          2. 28.(1) A person who gives notice of intention to appoint...

          3. 29.(1) An appointment may not be made under paragraph 23...

        4. Notice of appointment

          1. 30.(1) A person who appoints an administrator of a company...

          2. 31.In a case in which no person is entitled to...

        5. Commencement of appointment

          1. 32.The appointment of an administrator under paragraph 23 takes effect...

          2. 33.A person who appoints an administrator under paragraph 23—

          3. 34.If before the requirements of paragraph 30 are satisfied the...

        6. Invalid appointment: indemnity

          1. 35.(1) This paragraph applies where— (a) a person purports to...

      7. ADMINISTRATION APPLICATION — SPECIAL CASES

        1. Application by holder of floating charge

          1. 36.(1) This paragraph applies where an administration application in respect...

        2. Intervention by holder of floating charge

          1. 37.(1) This paragraph applies where— (a) an administration application in...

        3. Application where company in liquidation

          1. 38.(1) This paragraph applies where the holder of a qualifying...

          2. 39.(1) The liquidator of a company may make an administration...

        4. Effect of administrative receivership

          1. 40.(1) Where there is an administrative receiver of a company...

      8. EFFECT OF ADMINISTRATION

        1. Dismissal of pending winding-up petition

          1. 41.(1) A petition for the winding up of a company—...

        2. Dismissal of administrative or other receiver

          1. 42.(1) When an administration order takes effect in respect of...

        3. Moratorium on insolvency proceedings

          1. 43.(1) This paragraph applies to a company in administration.

        4. Moratorium on other legal process

          1. 44.(1) This paragraph applies to a company in administration.

        5. Interim moratorium

          1. 45.(1) This paragraph applies where an administration application in respect...

        6. Publicity

          1. 46.(1) While a company is in administration, every business document...

      9. PROCESS OF ADMINISTRATION

        1. Announcement of administrator's appointment

          1. 47.(1) This paragraph applies where a person becomes the administrator...

        2. Statement of company's affairs

          1. 48.(1) As soon as is reasonably practicable after appointment the...

          2. 49.(1) A person required to submit a statement of affairs...

        3. Administrator's proposals

          1. 50.(1) The administrator of a company shall make a statement...

        4. Creditors' meeting

          1. 51.(1) In this Schedule “ creditors' meeting ” means a...

        5. Requirement for initial creditors' meeting

          1. 52.(1) Each copy of an administrator's statement of proposals sent...

          2. 53.(1) Paragraph 52(1) shall not apply where the statement of...

        6. Business and result of initial creditors' meeting

          1. 54.(1) An initial creditors' meeting to which an administrator's proposals...

        7. Revision of administrator's proposals

          1. 55.(1) This paragraph applies where— (a) an administrator's proposals have...

        8. Failure to obtain approval of administrator's proposals

          1. 56.(1) This paragraph applies where an administrator reports to the...

        9. Further creditors' meetings

          1. 57.(1) The administrator of a company shall summon a creditors'...

        10. Creditors' committee

          1. 58.(1) A creditors' meeting may establish a creditors' committee.

        11. Correspondence instead of creditors' meeting

          1. 59.(1) Anything which is required or permitted by or under...

      10. FUNCTIONS OF ADMINISTRATOR

        1. General powers

          1. 60.(1) The administrator of a company may do anything necessary...

          2. 61.(1) The administrator of a company has the powers specified...

          3. 61A.(1) Regulations may make provision for— (a) prohibiting, or

          4. 62.The administrator of a company— (a) may remove a director...

          5. 63.The administrator of a company may call a meeting of...

          6. 64.The administrator of a company may apply to the High...

          7. 65.(1) A company in administration or an officer of a...

        2. Distribution

          1. 65A.(1) This paragraph applies where a company enters administration before...

          2. 66.(1) If the assets of a company are sufficient to...

          3. 67.If the debts or other liabilities payable under paragraph 65A...

        3. General duties

          1. 68.The administrator of a company shall on his appointment take...

          2. 69.(1) Subject to sub-paragraph (2), the administrator of a company...

        4. Administrator as agent of company

          1. 70.In exercising his functions under this Schedule the administrator of...

        5. Charged property: floating charge

          1. 71.(1) The administrator of a company may dispose of or...

        6. Charged property: non-floating charge

          1. 72.(1) The High Court may by order enable the administrator...

        7. Hire-purchase property

          1. 73.(1) The High Court may by order enable the administrator...

        8. Protection for priority creditor

          1. 74.(1) An administrator's statement of proposals under paragraph 50 may...

        9. Challenge to administrator's conduct of company

          1. 75.(1) A creditor or member of a company in administration...

        10. Misfeasance

          1. 76.(1) The High Court may examine the conduct of a...

      11. ENDING ADMINISTRATION

        1. Automatic end of administration

          1. 77.(1) The appointment of an administrator shall cease to have...

          2. 78.(1) An order of the High Court under paragraph 77—...

          3. 79.(1) In paragraph 77(2)(b) “ consent ” means consent of—...

        2. Court ending administration on application of administrator

          1. 80.(1) On the application of the administrator of a company...

        3. Termination of administration where objective achieved

          1. 81.(1) This paragraph applies where an administrator of a company...

        4. Court ending administration on application of creditor

          1. 82.(1) On the application of a creditor of a company...

        5. Public interest winding-up

          1. 83.(1) This paragraph applies where a winding-up order is made...

        6. Moving from administration to creditors' voluntary liquidation

          1. 84.(1) This paragraph applies where the administrator of a company...

        7. Moving from administration to dissolution

          1. 85.(1) If the administrator of a company thinks that the...

        8. Discharge of administration order where administration ends

          1. 86.(1) This paragraph applies where— (a) the High Court makes...

        9. Notice to registrar where administration ends

          1. 87.(1) This paragraph applies where the High Court makes an...

      12. REPLACING ADMINISTRATOR

        1. Resignation of administrator

          1. 88.(1) An administrator may resign only in prescribed circumstances.

        2. Removal of administrator from office

          1. 89.The High Court may by order remove an administrator from...

        3. Administrator ceasing to be qualified

          1. 90.(1) The administrator of a company shall vacate office if...

        4. Supplying vacancy in office of administrator

          1. 91.Paragraphs 92 to 96 apply where an administrator—

          2. 92.(1) Where the administrator was appointed by administration order, the...

          3. 93.Where the administrator was appointed under paragraph 15 the holder...

          4. 94.(1) Where the administrator was appointed under paragraph 23(1) by...

          5. 95.(1) Where the administrator was appointed under paragraph 23(2) the...

          6. 96.The High Court may replace an administrator on the application...

        5. Substitution of administrator: competing floating charge-holder

          1. 97.(1) This paragraph applies where an administrator of a company...

        6. Substitution of administrator appointed by company or directors: creditors' meeting

          1. 98.(1) This paragraph applies where— (a) an administrator of a...

        7. Vacation of office: discharge from liability

          1. 99.(1) Where a person ceases to be the administrator of...

        8. Vacation of office: charges and liabilities

          1. 100.(1) This paragraph applies where a person ceases to be...

      13. GENERAL

        1. Joint and concurrent administrators

          1. 101.(1) In this Schedule— (a) a reference to the appointment...

          2. 102.(1) This paragraph applies where two or more persons are...

          3. 103.(1) This paragraph applies where two or more persons are...

          4. 104.(1) Where a company is in administration, a person may...

        2. Presumption of validity

          1. 105.An act of the administrator of a company is valid...

        3. Majority decision of directors

          1. 106.A reference in this Schedule to something done by the...

        4. Penalties

          1. 107.(1) A person who is guilty of an offence under...

        5. Extension of time limit

          1. 108.(1) Where a provision of this Schedule provides that a...

          2. 109.(1) A period specified in paragraph 50(5), 51(1)(b) or 52(2)...

          3. 110.Where a period is extended under paragraph 108 or 109,...

        6. Amendment of provision about time

          1. 111.(1) The Department may by order amend a provision of...

    5. SCHEDULE 1

      POWERS OF ADMINISTRATOR OR ADMINISTRATIVE RECEIVER

      1. 1.Power to take possession of, collect and get in the...

      2. 2.Power to sell or otherwise dispose of the company's property,...

      3. 3.Without prejudice to Article 28 or 30 of the Property...

      4. 4.Power to raise or borrow money and grant security therefor...

      5. 5.Power to appoint a solicitor or accountant or other professionally...

      6. 6.Power to bring or defend any action or other legal...

      7. 7.Power to refer to arbitration any question affecting the company....

      8. 8.Power to effect and maintain insurances in respect of the...

      9. 9.Power to use the company's seal.

      10. 10.Power to do all acts and to execute in the...

      11. 11.Power to draw, accept, make and endorse any bill of...

      12. 12.Power to appoint any agent to do any business which...

      13. 13.Power to do all such things (including the carrying out...

      14. 14.Power to make any payment which is necessary or incidental...

      15. 15.Power to carry on the business of the company.

      16. 16.Power to establish subsidiaries of the company.

      17. 17.Power to transfer to subsidiaries of the company the whole...

      18. 18.Power to grant or accept a surrender of a lease...

      19. 19.Power to make any arrangement or compromise on behalf of...

      20. 20.Power to call up any uncalled capital of the company....

      21. 21.Power to rank and claim in the bankruptcy, insolvency or...

      22. 22.Power to present or defend a petition for the winding...

      23. 23.Power to change the situation of the company's registered office....

      24. 24.Power to do all other things incidental to the exercise...

    6. SCHEDULE 1A

      EXCEPTIONS TO PROHIBITION ON APPOINTMENT OF ADMINISTRATIVE RECEIVER: SUPPLEMENTARY PROVISIONS

      1. Capital market arrangement

        1. 1.For the purposes of Article 59B an arrangement is a capital market arrangement if—

      2. Capital market investment

        1. 2.For the purposes of Article 59B an investment is a capital market investment if it—

        2. 3.(1) An investment is also a capital market investment for...

      3. “Agreement”

        1. 4.or the purposes of Articles 59B and 59F and this Schedule “

      4. Debt

        1. 5.he debt of at least £50 million referred to in Article 59B(1)(a) or 59F(2)(a)—

      5. Step-in rights

        1. 6.For the purposes of Articles 59C to 59F a project has “

      6. Project company

        1. 7.For the purposes of Articles 59C to 59F a company is a “

      7. “Resources”

        1. 8.In Article 59C “

      8. “Public body”

        1. 9.In Article 59C “

      9. Regulated business

        1. 10.For the purposes of Article 59D a business is regulated if it is carried on—

      10. “Person”

        1. 11.A reference to a person in this Schedule includes a reference to a partnership or

    7. SCHEDULE 2

      POWERS OF LIQUIDATOR IN A WINDING UP

      1. PART I POWERS EXERCISABLE WITH SANCTION

        1. 1.Power to pay any class of creditors in full.

        2. 2.Power to make any compromise or arrangement with creditors or persons claiming to be creditors,...

        3. 3.Power to compromise, on such terms as may be agreed—...

        4. 3A.Power to bring legal proceedings under Article 177, 178, 202, 203 or 367.

      2. PART II POWERS EXERCISABLE WITHOUT SANCTION IN VOLUNTARY WINDING UP, WITH SANCTION IN WINDING UP BY THE HIGH COURT

        1. 4.Power to bring or defend any action or other legal proceeding in the name and...

        2. 5.Power to carry on the business of the company so far as may be necessary...

      3. PART III POWERS EXERCISABLE WITHOUT SANCTION IN ANY WINDING UP

        1. 6.Power to sell any part of the company's property, including...

        2. 7.Without prejudice to Article 28 or 30 of the Property...

        3. 7A.Power to compromise, on such terms as may be agreed—...

        4. 8.Power to do all acts and execute, in the name...

        5. 8A.Power to use the company's seal.

        6. 9.Power to prove, rank and claim in the bankruptcy or...

        7. 10.Power to draw, accept, make and endorse any bill of...

        8. 11.Power to raise on the security of the assets of...

        9. 12.(1) Power to take out in his official name letters...

        10. 13.Power to appoint an agent to do any business which...

        11. 14.Power to do all such other things as may be...

    8. SCHEDULE 2ZZA

      PROTECTION OF SUPPLIES UNDER ARTICLE 197B: EXCLUSIONS

      1. PART 1 ESSENTIAL SUPPLIES

        1. Essential supplies

          1. 1.(1) Article 197B(3) and (4) do not apply in relation...

      2. PART 2 PERSONS INVOLVED IN FINANCIAL SERVICES

        1. Introductory

          1. 2.Article 197B does not apply in relation to a contract...

        2. Insurers

          1. 3.(1) This paragraph applies where either the company or the...

        3. Banks

          1. 4.(1) This paragraph applies where either the company or the...

        4. Electronic money institutions

          1. 5.This paragraph applies where either the company or the supplier...

        5. Investment banks and investment firms

          1. 6.(1) This paragraph applies where either the company or the...

        6. Payment institutions

          1. 7.This paragraph applies where either the company or the supplier...

        7. Operators of payment systems, infrastructure providers etc

          1. 8.This paragraph applies where either the company or the supplier...

        8. Recognised investment exchanges etc

          1. 9.This paragraph applies where either the company or the supplier...

        9. Securitisation companies

          1. 10.This paragraph applies where either the company or the supplier...

        10. Overseas activities

          1. 11.This paragraph applies where either the company or the supplier...

      3. PART 3 CONTRACTS INVOLVING FINANCIAL SERVICES

        1. Introductory

          1. 12.To the extent that anything to which any of paragraphs...

        2. Financial contracts

          1. 13.(1) This paragraph applies to a financial contract.

        3. Securities financing transactions

          1. 14.(1) This paragraph applies to— (a) a securities financing transaction,...

        4. Derivatives

          1. 15.(1) This paragraph applies to— (a) a derivative, and

        5. Spot contracts

          1. 16.(1) This paragraph applies to— (a) a spot contract, and...

        6. Capital market investments

          1. 17.(1) This paragraph applies to an agreement which is, or...

        7. Contracts forming part of a public-private partnership

          1. 18.This paragraph applies to a contract forming part of a...

      4. PART 4 OTHER EXCLUSIONS

        1. Financial markets and insolvency

          1. 19.Nothing in Article 197B affects the operation of—

        2. Set-off and netting

          1. 20.Nothing in Article 197B affects any set-off or netting arrangements...

        3. Aircraft equipment

          1. 21.Nothing in Article 197B affects the International Interests in Aircraft...

    9. SCHEDULE 2ZA

      CONDITIONS FOR MAKING A DEBT RELIEF ORDER

      1. PART 1 CONDITIONS WHICH MUST BE MET

        1. Connection with Northern Ireland

          1. 1.(1) The debtor— (a) is domiciled in Northern Ireland on the application date; or (b)...

        2. Debtor's previous insolvency history

          1. 2.The debtor is not, on the determination date— (a) an undischarged bankrupt; (b) subject to...

          2. 3.A debtor's petition for the debtor's bankruptcy under Part 9— (a) has not been presented...

          3. 4.A creditor's petition for the debtor's bankruptcy under Part 9— (a) has not been presented...

          4. 5.A debt relief order has not been made in relation to the debtor in the...

        3. Limit on debtor's overall indebtedness

          1. 6.(1) The total amount of the debtor's debts on the determination date, other than unliquidated...

        4. Limit on debtor's monthly surplus income

          1. 7.(1) The debtor's monthly surplus income (if any) on the determination date does not exceed...

        5. Limit on value of debtor's property

          1. 8.(1) The total value of the debtor's property on the determination date does not exceed...

      2. PART 2 OTHER CONDITIONS

        1. 9.(1) The debtor has not entered into a transaction with any person at an undervalue...

        2. 10.(1) The debtor has not given a preference to any person during the period between—...

    10. SCHEDULE 2ZB

      DEBT RELIEF RESTRICTIONS ORDERS AND UNDERTAKINGS

      1. Debt relief restrictions order

        1. 1.(1) A debt relief restrictions order may be made by the High Court in relation...

      2. Grounds for making order

        1. 2.(1) The High Court shall grant an application for a debt relief restrictions order if...

      3. Timing of application for order

        1. 3.An application for a debt relief restrictions order in respect of a debtor may be...

      4. Duration of order

        1. 4.(1) A debt relief restrictions order— (a) comes into force when it is made, and...

      5. Interim debt relief restrictions order

        1. 5.(1) This paragraph applies at any time between— (a) the institution of an application for...

        2. 6.(1) This paragraph applies to a case in which both an interim debt relief restrictions...

      6. Debt relief restrictions undertaking

        1. 7.(1) A debtor may offer a debt relief restrictions undertaking to the Department. (2) In...

        2. 8.A reference in a statutory provision to a person in respect of whom a debt...

        3. 9.(1) A debt relief restrictions undertaking— (a) comes into force on being accepted by the...

      7. Effect of revocation of debt relief order

        1. 10.Unless the High Court directs otherwise, the revocation at any time of a debt relief...

    11. SCHEDULE 2A

      BANKRUPTCY RESTRICTIONS ORDER AND UNDERTAKING

      1. Bankruptcy restrictions order

        1. 1.(1) A bankruptcy restrictions order may be made by the High Court. (2) An order...

      2. Grounds for making order

        1. 2.(1) The High Court shall grant an application for a bankruptcy restrictions order if it...

      3. Timing of application for order

        1. 3.(1) An application for a bankruptcy restrictions order in respect of a bankrupt must be...

      4. Duration of order

        1. 4.(1) A bankruptcy restrictions order— (a) shall come into force when it is made, and...

      5. Interim bankruptcy restrictions order

        1. 5.(1) This paragraph applies at any time between— (a) the institution of an application for...

        2. 6.(1) This paragraph applies to a case in which both an interim bankruptcy restrictions order...

      6. Bankruptcy restrictions undertaking

        1. 7.(1) A bankrupt may offer a bankruptcy restrictions undertaking to the Department. (2) In determining...

        2. 8.A reference in a statutory provision to a person in respect of whom a bankruptcy...

        3. 9.(1) A bankruptcy restrictions undertaking— (a) shall come into force on being accepted by the...

      7. Effect of annulment of bankruptcy order

        1. 10.Where a bankruptcy order is annulled under Article 256(1)(a)— (a) any bankruptcy restrictions order, interim...

        2. 11.Where a bankruptcy order is annulled under Article 235, 237D or 256(1)(b)— (a) the annulment...

      8. Registration

        1. 12.The Department shall maintain a register of— (a) bankruptcy restrictions orders, (b) interim bankruptcy restrictions...

    12. SCHEDULE 3

      POWERS OF TRUSTEE IN BANKRUPTCY

      1. PART I POWERS EXERCISABLE WITH SANCTION

        1. 1.Power to carry on any business of the bankrupt so far as may be necessary...

        2. 2.Power to bring, institute or defend any action or legal proceedings relating to the property...

        3. 2A.Power to bring legal proceedings under Article 312, 313 or 367.

        4. 3.Power to accept as the consideration for the sale of any property comprised in the...

        5. 4.Power to mortgage or pledge any part of the property comprised in the bankrupt's estate...

        6. 5.Power, where any right, option or other power forms part of the bankrupt's estate, to...

        7. 6.Power to refer to arbitration, or compromise on such terms...

        8. 7.Power to make such compromise or other arrangement as may be thought expedient with creditors,...

        9. 8.Power to make such compromise or other arrangement as may...

      2. PART II POWERS EXERCISABLE WITHOUT SANCTION

        1. 9.Power to sell any part of the property for the...

        2. 10.Without prejudice to Article 28 or 30 of the Property...

        3. 10A.Power to refer to arbitration, or compromise on such terms...

        4. 10B.Power to make such compromise or other arrangement as may...

        5. 11.Power to give receipts for any money received by him,...

        6. 12.Power to prove, rank, claim and draw a dividend in...

        7. 13.Power to exercise in relation to any property comprised in...

        8. 14.Power to deal with any property comprised in the estate...

      3. PART III ANCILLARY POWERS

        1. 15.For the purposes of, or in connection with, the exercise of any of his powers...

    13. SCHEDULE 4

      THE CATEGORIES OF PREFERENTIAL DEBTS

      1. Category 1: Debts due to Inland Revenue

        1. 1.. . . . . . . . . ....

        2. 2.. . . . . . . . . ....

      2. Category 2: Debts due to Customs and Excise

        1. 3.. . . . . . . . . ....

        2. 3A.. . . . . . . . . ....

        3. 3B.. . . . . . . . . ....

        4. 3C.. . . . . . . . . ....

        5. 4.. . . . . . . . . ....

        6. 5.. . . . . . . . . ....

        7. 5A.. . . . . . . . . ....

        8. 5B.. . . . . . . . . ....

        9. 5C.. . . . . . . . . ....

      3. Category 3: Social security contributions

        1. 6.. . . . . . . . . ....

        2. 7.. . . . . . . . . ....

      4. Category 4: Contributions to occupational pension schemes, etc.

        1. 8.Any sum which is owed by the debtor and is...

      5. Category 5: Remuneration, etc., of employees

        1. 9.So much of any amount which— (a) is owed by...

        2. 10.An amount owed by way of accrued holiday remuneration, in...

        3. 11.So much of any sum owed in respect of money...

        4. 12.So much of any amount which— (a) is ordered (whether...

      6. Interpretation for Category 5

        1. 13.(1) For the purposes of paragraphs 9 to 12, a...

        2. 14.(1) This paragraph relates to a case in which a...

        3. 15.Without prejudice to paragraphs 13 and 14—

      7. Orders under Category 5

        1. 16.An order under paragraph 9 or 12—

      8. Category 6: Levies on coal and steel production

        1. 17.Any sums due at the relevant date from the debtor...

      9. Category 6A: Debts owed to the Financial Services Compensation Scheme

        1. 17A.Any debt owed by the debtor to the scheme manager...

      10. Category 7: Deposits covered by Financial Services Compensation Scheme

        1. 18.So much of any amount owed at the relevant date...

      11. Category 8: Other deposits

        1. 19.So much of any amount owed at the relevant date...

        2. 20.An amount owed at the relevant date by the debtor...

      12. Interpretation for Categories 6A, 7 and 8

        1. 21.(A1) In paragraph 17A “ the scheme manager ” has...

      13. Category 9: Certain HMRC debts

        1. 22.(1) Any amount owed at the relevant date by the...

    14. SCHEDULE 5

      PROVISIONS CAPABLE OF INCLUSION IN COMPANY INSOLVENCY RULES

      1. High Court

        1. 1.(1) Provision for regulating the practice and procedure of the High Court so far as...

        2. 2.Provision conferring rights of audience, in the High Court so far as relating to, and...

      2. Notices, etc.

        1. 3.Provision requiring notice of any proceedings in connection with or arising out of the insolvency...

        2. 4.Provision with respect to the form, manner of serving, contents and proof of any petition,...

        3. 5.Provision specifying the persons to whom any notice is to be given.

      3. Registration of voluntary arrangements

        1. 6.Provision for the registration of voluntary arrangements approved under Part II, including provision for the...

      4. Provisional liquidator

        1. 7.Provision as to the manner in which a provisional liquidator appointed under Article 115 is...

      5. Conduct of insolvency

        1. 8.Provision with respect to the certification of any person as,...

        2. 9.The following provision with respect to meetings of a company's creditors, contributories or members— (a)...

        3. 10.(1) Provision as to the functions, membership and proceedings of a committee established under Article...

        4. 11.Provision as to the manner in which any requirement that may be imposed on a...

        5. 12.Provision as to the debts that may be proved in a winding up, as to...

        6. 13.Provision with respect to the manner of the distribution of the property of a company...

        7. 14.Provision which, with or without modifications, applies in relation to the winding up of companies...

        8. 14A.Provision about the application of Article 150A which may include, in particular— (a) provision enabling...

      6. Administration

        1. 14B.Provision which—

      7. Financial provisions

        1. 15.Provision as to the amount, or manner of determining the amount, payable to the liquidator,...

        2. 16.Provision with respect to the manner in which money received by the liquidator of a...

        3. 16A.Provision enabling the Department to set the rate of interest paid on sums which have...

        4. 17.Provision as to the costs that may be treated as the expenses of a winding...

        5. 18.Provision as to the costs that may be treated as properly incurred by the administrator...

        6. 19.Provision as to the costs that may be incurred for any of the purposes of...

      8. Information and records

        1. 20.Provision requiring officers of the High Court— (a) to keep books and other records with...

        2. 21.Provision requiring a creditor, member or contributory, or such a committee as is mentioned in...

        3. 22.Provision as to the manner in which public examinations under Articles 113 and 114 and...

        4. 23.Provision imposing requirements with respect to— (a) the preparation and keeping by the liquidator, administrator...

        5. 24.Provision requiring the person who is the supervisor of a voluntary arrangement approved under Part...

        6. 25.Provision as to the manner in which the liquidator of a company is to act...

        7. 26.Provision imposing requirements in connection with the carrying out of functions under Article 10(4) of...

      9. General

        1. 27.Provision conferring power on the Department to make regulations with respect to so much of...

        2. 28.Provision conferring a discretion on the High Court.

        3. 29.Provision conferring power on the High Court to make orders for the purpose of securing...

        4. 30.Provision making non‐compliance with any of the rules a criminal offence.

    15. SCHEDULE 6

      PROVISIONS CAPABLE OF INCLUSION IN INDIVIDUAL INSOLVENCY RULES

      1. High Court

        1. 1.Provision for regulating the practice and procedure of the High Court for the purposes of

        2. 2.Provision conferring rights of audience, in the High Court for the purposes of

      2. Notices, etc.

        1. 3.Provision requiring notice of any proceedings under

        2. 4.Provision with respect to the form, manner of serving, contents and proof of any petition,

        3. 5.Provision specifying the persons to whom any notice under

      3. Debt relief orders

        1. 5A.Provision as to the manner in which the official receiver is to carry out his...

        2. 5B.Provision as to the manner in which any requirement that may be imposed by the...

        3. 5C.Provision modifying the application of Part 7A in relation to an individual who has died...

      4. Debt relief restrictions orders and undertakings

        1. 5D.Provision about debt relief restrictions orders, interim orders and undertakings, including provision about evidence.

      5. Register of debt relief orders and debt relief restrictions orders, etc.

        1. 5E.Provision about the register required to be maintained by Article 208W and the information to...

      6. ... Voluntary arrangements

        1. 6.Provision ... for the registration of ... voluntary arrangements approved...

      7. Official receiver acting on voluntary arrangement

        1. 6A.Provision about the official receiver acting as nominee or supervisor in relation to a voluntary...

      8. Interim receiver

        1. 7.Provision as to the manner in which an interim receiver appointed under Article 259 is...

      9. Receiver or manager

        1. 8.Provision as to the manner in which the official receiver is to carry out his...

      10. Administration of individual insolvency

        1. 9.Provision with respect to the certification of the appointment of any person as trustee of

        2. 10.The following provision with respect to meetings of creditors—

        3. 11.Provision as to the functions, membership and proceedings of a creditors' committee established under Article

        4. 12.Provision as to the manner in which any requirement that may be imposed on a

        5. 13.Provision as to the manner in which any requirement imposed by virtue of Article 283(3)

        6. 14.Provision as to the terms and conditions that may be included in a charge under

        7. 15.Provision as to the debts that may be proved in any bankruptcy, as to the

        8. 16.Provision with respect to the manner of the distribution of a bankrupt's estate, including provision

        9. 17.Provision modifying the application of Parts VIII to X in relation to a debtor or

      11. Financial provisions

        1. 18.Provision as to the amount, or manner of determining the amount, payable to an interim...

        2. 19.Provision with respect to the manner in which money received by the trustee of a...

        3. 19A.Provision enabling the Department to set the rate of interest paid on sums which have...

        4. 20.Provision as to the costs that may be treated as the expenses of a bankruptcy.

        5. 21.Provision as to the costs that may be incurred for any of the purposes of...

      12. Information and records

        1. 22.Provision requiring officers of the High Court—

        2. 23.Provision requiring a creditor or a committee established under Article 274 to be supplied (on

        3. 24.Provision as to the manner in which public examinations under Article 263 and proceedings under

        4. 25.Provision imposing requirements with respect to— (a) the preparation and...

        5. 26.Provision requiring the person who is the supervisor of a voluntary arrangement approved under Part

        6. 27.Provision as to the manner in which the trustee of a bankrupt's estate is to

      13. Bankruptcy restrictions orders and undertakings

        1. 27A.Provision about bankruptcy restrictions orders, interim orders and undertakings, including—

      14. General

        1. 28.Provision conferring power on the Department to make regulations with...

        2. 29.Provision conferring a discretion on the High Court.

        3. 30.Provision making non‐compliance with any of the rules a criminal offence.

    16. SCHEDULE 7

      PUNISHMENT OF OFFENCES UNDER THIS ORDER

    17. SCHEDULE 8

      TRANSITIONAL PROVISIONS AND SAVINGS

      1. PART I COMPANY INSOLVENCY AND WINDING UP

        1. Administration orders

          1. 1.(1) Where any right to appoint an administrative receiver of a company is conferred by...

        2. Receivers and managers

          1. 2.(1) Parts IV and VII do not apply in relation to any receiver or manager...

        3. Winding up already in progress

          1. 3.(1) Subject to the following provisions of this Part, Parts V to VII do not...

        4. Statement of affairs

          1. 4.(1) Where a winding up by the High Court has commenced, or is treated as...

        5. Provisions relating to liquidator

          1. 5.(1) This paragraph applies as regards the liquidator in the case of a winding up...

        6. Saving for power to make rules

          1. 6.Paragraphs 3 to 5 are without prejudice to the power conferred by this Order under...

        7. Setting aside of preferences and other transactions

          1. 7.(1) Where a provision in Part V of this Order applies in relation to a...

      2. PART II INDIVIDUAL INSOLVENCY

        1. Bankruptcy general

          1. 8.(1) Subject to the following provisions of this Part, Parts VIII to X do not...

          2. 9.(1) In relation to any such case as is mentioned in paragraph 8(1) the references...

          3. 10.Transactions entered into before the commencement date have effect on and after that date as...

        2. Discharge from old bankruptcy

          1. 11.(1) Where a person— (a) was adjudged bankrupt before the commencement date or is adjudged...

        3. Provisions relating to trustee

          1. 12.(1) This paragraph applies as regards the trustee in the case of a person adjudged...

        4. Second bankruptcy

          1. 13.(1) Articles 307 and 308 of this Order apply with the following modifications where the...

        5. Setting aside of preferences and other transactions

          1. 14.(1) A preference given, assignment made or other transaction entered into before the commencement date...

        6. Bankruptcy offences

          1. 15.(1) Where a bankruptcy order is made under this Order on or after the commencement...

        7. Power to make rules

          1. 16.(1) The preceding provisions of this Part of this Schedule are without prejudice to the...

      3. PART III OTHER TRANSITIONAL PROVISIONS AND SAVINGS

        1. Deeds of arrangement

          1. 17.Chapter I of Part VIII does not apply in relation...

        2. Insolvency practitioners

          1. 18.Where an individual began to act as an insolvency practitioner in relation to any person...

        3. Official receiver

          1. 19.Any property vested in the Official Assignee for bankruptcy for Northern Ireland, either alone or...

        4. Transitional effect of Articles 367 to 369

          1. 20.(1) A transaction entered into before the commencement date shall not be set aside under...

        5. Periods of time

          1. 21.Where any period of time specified in any provision repealed by Article 382 and Schedule...

        6. Saving

          1. 22.The provisions of this Schedule shall have effect without prejudice to sections 28 and 29...

        7. Interpretation

          1. 23.In this Schedule— “the Bankruptcy Acts” means the Bankruptcy Acts (Northern Ireland) 1857 to 1980...

    18. Schedule 9—Amendments

    19. Schedule 10—Repeals

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