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- Original (As enacted)
Insolvency Act 1986 is up to date with all changes known to be in force on or before 20 August 2024. There are changes that may be brought into force at a future date.
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.
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
The First Group of Parts Company Insolvency; Companies Winding Up
Chapter 3 Length of moratorium
Chapter 4 Effects of moratorium
Chapter 8 Miscellaneous and general
Part I Company Voluntary Arrangements
Chapter II Receivers (Scotland)
CHAPTER IV PROHIBITION OF APPOINTMENT OF ADMINISTRATIVE RECEIVER
Part IV Winding Up of Companies Registered under the Companies Acts
Chapter II Voluntary Winding Up (Introductory and General)
Chapter V Provisions Applying to both kinds of Voluntary Winding Up
Chapter VI Winding Up by the Court
Chapter VIII Provisions of General Application in Winding Up
Part VI Miscellaneous Provisions Applying to Companies Which are Insolvent or in Liquidation
The Second Group of Parts Insolvency of Individuals; Bankruptcy
CHAPTER A1 Adjudicators: bankruptcy applications by debtors and bankruptcy orders
Chapter I The court: bankruptcy petitions and bankruptcy orders
Chapter II Protection of Bankrupt’s Estate and Investigation of His Affairs
Chapter III Trustees in Bankruptcy
Chapter IV Administration by Trustee
Distribution of bankrupt’s estate
Chapter V Effect of Bankruptcy on Certain Rights Transacttions, Etc.
Part XII Preferential and non-preferential debts in Company and Individual Insolvency
Part XIII Insolvency Practitioners and their Qualification
Restrictions on unqualified persons acting as liquidator, trustee in bankruptcy, etc.
Court sanction of insolvency practitioners in public interest cases
Part XVI Provisions Against Debt Avoidance (England and Wales only)
SCHEDULES
Moratorium: Eligible companies
2.Companies subject to, or recently subject to, moratorium or an insolvency procedure
2B.Registered social landlord under Part 2 of the Housing (Scotland) Act 2010
7.Companies that are party to market contracts or subject to market charges, etc
10.Operators of payment systems, infrastructure providers etc
11.Recognised investment exchanges, clearing houses and CSDs
16.(1) For the purposes of paragraph 15 “public-private partnership project”...
21.(1) The Welsh Ministers may by regulations amend this Schedule—...
22.(1) The Scottish Ministers may by regulations amend this Schedule—...
Moratorium: contract or other instrument involving financial services
Moratorium where directors propose voluntary arrangement
(1) This paragraph applies where there is an uncrystallised floating...
(1) Every invoice, order for goods or services, business letter...
(1) Subject to sub-paragraph (2), the company may only dispose...
(1) Subject to sub-paragraph (2), the company may only make...
(1) This paragraph applies where— (a) any property of the...
Consideration and implementation of voluntary arrangement
(1) Subject to sub-paragraph (2), a company meeting summoned under...
(1) The conditions which may be imposed when a moratorium...
(1) This paragraph applies where in accordance with paragraph 32...
(1) Sub-paragraph (2) applies to references to one of the...
(1) This paragraph applies where a decision approving a voluntary...
(1) Subject to the following provisions of this paragraph, any...
(1) This paragraph applies where a voluntary arrangement has taken...
60.(1) The administrator of a company has the powers specified...
60A.(1) The Secretary of State may by regulations make provision...
61.The administrator of a company— (a) may remove a director...
62.The administrator of a company may— (a) call a meeting...
66.If the debts and other liabilities payable under paragraph 64A...
68.(1) Subject to sub-paragraph (2), the administrator of a company...
91.(1) Where the administrator was appointed by administration order, the...
92.Where the administrator was appointed under paragraph 14 the holder...
93.(1) Where the administrator was appointed under paragraph 22(1) by...
94.(1) Where the administrator was appointed under paragraph 22(2) the...
95.The court may replace an administrator on the application of...
96.Substitution of administrator: competing floating charge-holder
97.Substitution of administrator appointed by company or directors: creditors’ decision
101.(1) This paragraph applies where two or more persons are...
102.(1) This paragraph applies where two or more persons are...
103.(1) Where a company is in administration, a person may...
108.(1) A period specified in paragraph 49(5) ... or 51(2)...
109.Where a period is extended under paragraph 107 or 108,...
113.Where property in Scotland is disposed of under paragraph 70...
114.In Scotland, where goods in the possession of a company...
115.(1) In Scotland, the administrator of a company may make,...
116.In Scotland, the administrator in making any payment in accordance...
Powers of Administrator or Administrative Receiver
3.Power to raise or borrow money and grant security therefor...
4.Power to appoint a solicitor or accountant or other professionally...
6.Power to refer to arbitration any question affecting the company....
7.Power to effect and maintain insurances in respect of the...
12.Power to do all such things (including the carrying out...
13.Power to make any payment which is necessary or incidental...
16.Power to transfer to subsidiaries of the company the whole...
18.Power to make any arrangement or compromise on behalf of...
20.Power to rank and claim in the bankruptcy, insolvency, sequestration...
22.Power to change the situation of the company’s registered office....
23.Power to do all other things incidental to the exercise...
Powers of a Scottish Receiver (Additional to Those Conferred on him by the Instrument of Charge)
3.Power to raise or borrow money and grant security therefor...
4.Power to appoint a solicitor or accountant or other professionally...
6.Power to refer to arbitration all questions affecting the company....
7.Power to effect and maintain insurances in respect of the...
12.Power to do all such things (including the carrying out...
13.Power to make any payment which is necessary or incidental...
16.Power to make any arrangement or compromise on behalf of...
19.Power to to transfer to subsidiaries of the company the...
20.Power to rank and claim in the bankruptcy, insolvency, sequestration...
22.Power to change the situation of the company’s registered office....
23.Power to do all other things incidental to the exercise...
EXCEPTIONS TO PROHIBITION ON APPOINTMENT OF ADMINISTRATIVE RECEIVER: SUPPLEMENTARY PROVISIONS
Orders in Course of Winding Up Pronounced in Vacation (Scotland)
Protection of supplies under section 233B: exclusions
Debt relief restrictions orders and undertakings
Powers of Trustee in Bankruptcy
2.Power to bring, institute or defend any action or legal...
2A.Power to bring legal proceedings under section 339, 340 or...
5.Power, where any right, option or other power forms part...
6.Power to refer to arbitration, or compromise on such terms...
7.Power to make such compromise or other arrangement as may...
8.Power to make such compromise or other arrangement as ay...
The Categories of Preferential Debts
Category 4: Contributions to occupational pension schemes, etc.
Category 6A: Debts owed to the Financial Services Compensation Scheme
Category 7: Deposits covered by Financial Services Compensation Scheme
Insolvency Practitioners Tribunal
Provisions Capable of Inclusion in Company Insolvency Rules
8.Provision with respect to the certification of any person as,...
8A.(1) Provision about the making of decisions by creditors and...
9.The following provision with respect to meetings of a company’s...
9A.Provision about how a company's creditors may nominate a person...
10.(1) Provision as to the establishment, functions, membership and proceedings...
11.Provision as to the manner in which any requirement that...
13.Provision with respect to the manner of the distribution of...
14.Provision which, with or without modifications, applies in relation to...
14A.Provision about the application of section 176A of this Act...
15.Provision as to the amount, or manner of determining the...
16.Provision with respect to the manner in which moneys received...
16A.Provision enabling the Secretary of State to set the rate...
17.Provision as to the fees, costs, charges and other expenses...
18.Provision as to the fees, costs, charges and other expenses...
19.Provision as to the fees, costs, charges and other expenses...
20.Provision requiring registrars and other officers of courts having jurisdiction...
21.Provision requiring a creditor, member or contributory, or such a...
22.Provision as to the manner in which public examinations under...
23.Provision imposing requirements with respect to— (a) the preparation and...
24.Provision requiring the person who is the supervisor of a...
26.Provision imposing requirements in connection with the carrying out of...
Provisions Capable of Inclusion in Individual Insolvency Rules
Register of debt relief orders and debt relief restrictions orders etc
Administration of individual insolvency
11.Provision with respect to the certification of the appointment of...
11A.(1) Provision about the making of decisions by creditors, including...
12.The following provision with respect to meetings of creditors—
12A.Provision about how a bankrupt's creditors may appoint a person...
13.Provision as to the establishment, functions, membership and proceedings of...
14.Provision as to the manner in which any requirement that...
15.Provision as to the manner in which any requirement imposed...
18.Provision with respect to the manner of the distribution of...
19.Provision modifying the application of Parts VIII to XI of...
20.Provision as to the amount, or manner of determining the...
21.Provision with respect to the manner in which moneys received...
21A.Provision enabling the Secretary of State to set the rate...
22.Provision as to the fees, costs, charges and other expenses...
23.Provision as to the fees, costs, charges and other expenses...
24.Provision requiring registrars and other officers of courts having jurisdiction...
24A.Provision requiring adjudicators— (a) to keep files and other records...
24B.Provision requiring an adjudicator to make returns to the Secretary...
24C.Provision requiring official receivers— (a) to keep files and other...
24D.Provision requiring a person to whom notice is given under...
25.Provision requiring a creditor or a committee established under section...
26.Provision as to the manner in which public examinations under...
27.Provision imposing requirements with respect to— (a) the preparation and...
28.Provision requiring the person who is the supervisor of a...
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