Insolvency Act 2000

1. Introductory Text

2. Voluntary arrangements

   1. 1. Moratorium where directors propose voluntary arrangement.

   2. 2. Company voluntary arrangements.

   3. 3. Individual voluntary arrangements.

   4. 4. Qualification or authorisation of nominees and supervisors.

3. Disqualification of company directors etc.

   1. 5. Disqualification orders.

   2. 6. Disqualification undertakings.

   3. 7. Effect of Northern Irish disqualifications.

   4. 8. Amendments.

4. Miscellaneous

   1. 9. Administration orders.

   2. 10. Investigation and prosecution of malpractice.

   3. 11. Restriction on use of answers obtained under compulsion.

   4. 12. Insolvent estates of deceased persons.

   5. 13. Bankruptcy: interest on sums held in Insolvency Services Account.

   6. 14. Model law on cross-border insolvency.

5. General

   1. 15. Amendments of Financial Services and Markets Act 2000 and repeals.

   2. 16. Commencement.

   3. 17. Extent.

   4. 18. Short title.

6. SCHEDULES

   1. SCHEDULE 1

      Moratorium where directors propose voluntary arrangement

      1. Amendments of the Insolvency Act 1986

         1. 1. The Insolvency Act 1986 is amended as provided in this...

         2. 2. After section 1 there is inserted— Moratorium. (1) Where the directors of an eligible company intend to...

         3. 3. In section 2(1) (procedure where nominee is not the liquidator...

         4. 4. Before Schedule 1 there is inserted— SCHEDULE A1 Moratorium where...

         5. 5. In section 27(3)(a) (protection of interests of creditors and members...

         6. 6. In section 122(1) (grounds on which company may be wound...

         7. 7. In section 124 (application for winding up of company), after...

         8. 8. (1) Section 233 (conditions which may be imposed on supply...

         9. 9. In section 387 (date which determines existence and amount of...

         10. 10. After section 417 there is inserted— Money sums (company moratorium)....

         11. 11. In section 432(4) (offences by bodies corporate), at the end...

         12. 12. In Schedule 10 (punishment of offences), before the entry relating...

   2. SCHEDULE 2

      Company voluntary arrangements

      1. Part I Amendments of the Insolvency Act 1986

         1. 1. The Insolvency Act 1986 is amended as follows.

         2. 2. In section 1(2) (proposal for a voluntary arrangement), for “in...

         3. 3. In section 2 (procedure where nominee is not the liquidator...

         4. 4. In section 4(2) (decisions of meetings), for “in relation to...

         5. 5. After section 4 there is inserted— Approval of arrangement. (1) This section applies to a decision, under section 4,...

         6. 6. In section 5 (effect of approval of voluntary arrangement)—

         7. 7. (1) Section 6 (challenge of decisions) is amended as follows....

         8. 8. After that section there is inserted— False representations, etc. (1) If, for the purpose of obtaining the approval of...

         9. 9. In section 7 (implementation of proposal)— (a) in subsection (1),...

         10. 10. After that section there is inserted— Prosecution of delinquent officers...

         11. 11. In section 387(2)(b) (date which determines existence and amount of...

         12. 12. In Schedule 10 (punishment of offences), before the entry relating...

      2. Part II Amendments of the Building Societies Act 1986

         1. 13. (1) The Authoritymay appoint one or more competent persons to...

         2. 14. (1) Schedule 15A to the Building Societies Act 1986 (application...

   3. SCHEDULE 3

      Individual voluntary arrangements

      1. 1. The Insolvency Act 1986 is amended as follows.

      2. 2. In section 252 (interim order of court)—

      3. 3. In section 253 (application for interim order)—

      4. 4. In section 254 (effect of application), in subsection (1)—

      5. 5. In section 255 (cases in which interim order can be...

      6. 6. In section 256 (nominee’s report on debtor’s proposal)—

      7. 7. After section 256 there is inserted— Procedure where no interim...

      8. 8. In section 257 (summoning of creditors’ meeting), in subsection (1)—...

      9. 9. In section 258 (decisions of creditors’ meeting), in subsection (3),...

      10. 10. In section 260 (effect of approval), for subsection (2)(b) there...

      11. 11. (1) In section 262 (challenge of meeting’s decision), in subsection...

      12. 12. After that section there is inserted— False representations etc. (1) If for the purpose of obtaining the approval of...

      13. 13. In section 263 (implementation and supervision of approved voluntary arrangement)—...

      14. 14. In section 347 (distress, etc.)— (a) in subsection (1), after...

      15. 15. In section 387 (date which determines existence and amount of...

      16. 16. In Schedule 10 (punishment of offences), after the entry relating...

   4. SCHEDULE 4

      Minor and consequential amendments about disqualification of company directors etc.

      1. Part I Amendments of the Company Directors Disqualification Act 1986

         1. 1. The Company Directors Disqualification Act 1986 is amended in accordance...

         2. 2. In section 1(3) (disqualification orders), after “an order” there is...

         3. 3. In section 2(1) (disqualification on conviction of indictable offence), for...

         4. 4. In section 4 (disqualification for fraud, etc., in winding up),...

         5. 5. (1) In section 6 (disqualification of unfit directors)—

         6. 6. In section 7 (applications to court under section 6; reporting...

         7. 7. In section 9 (matters for determining unfitness of directors)—

         8. 8. In section 13 (criminal penalties)— (a) after “disqualification order or”...

         9. 9. In section 14(1) (offences by body corporate), after “disqualification order”...

         10. 10. (1) Section 15 (personal liability for company’s debts where person...

         11. 11. (1) In section 16 (application for disqualification order), in subsection...

         12. 12. (1) For section 17 (application for leave under an order)...

         13. 13. (1) Section 18 (register of disqualification orders) is amended as...

         14. 14. (1) Section 21 (interaction with Insolvency Act 1986) is amended...

         15. 15. (1) Section 22 (interpretation) is amended as follows.

      2. Part II Consequential amendments of other enactments

         1. Insolvency Act 1986 (c. 45)

            1. 16. (1) The Insolvency Act 1986 is amended as follows.

         2. Law Reform (Miscellaneous Provisions) (Scotland) Act 1990 (c. 40.)

            1. 17. In section 8(1)(d) of the Law Reform (Miscellaneous Provisions) (Scotland)...

         3. Charities Act 1993 (c. 10)

            1. 18. In section 72 of the Charities Act 1993 (persons disqualified...

         4. Pensions Act 1995 (c. 26)

            1. 19. (1) The Pensions Act 1995 is amended as follows.

         5. Police Act 1996 (c. 16)

            1. 20. In paragraph 11(1)(c) of Schedule 2, and paragraph 7(1)(c) of...

         6. Housing Act 1996 (c. 52)

            1. 21. In paragraph 4(2)(b) of Schedule 1 to the Housing Act...

         7. Police Act 1997 (c. 50)

            1. 22. (1) The Police Act 1997 is amended as follows.

   5. SCHEDULE 5

      Repeals