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The Insolvency (Northern Ireland) Order 1989, Section 15 is up to date with all changes known to be in force on or before 30 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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15.—(1 )F1 This Article applies where the nominee under Article 14 is not the liquidator or administrator of the company F2....
(2) The nominee shall, within 28 days (or such longer period as the High Court may allow) after he is given notice of the proposal for a voluntary arrangement, submit a report to the Court stating—
(a)[F3whether, in his opinion, the proposed voluntary arrangement has a reasonable prospect of being approved and implemented,]
[F3(aa)]F1whether, in his opinion, meetings of the company and of its creditors should be summoned to consider the proposal, and
(b )F1if in his opinion such meetings should be summoned, the date on which, and time and place at which, he proposes the meetings should be held.
(3 )F1 For the purposes of enabling the nominee to prepare his report, the person intending to make the proposal shall submit to the nominee—
(a)a document setting out the terms of the proposed voluntary arrangement, and
(b)a statement of the company's affairs containing—
(i)such particulars of its creditors and of its debts and other liabilities and of its assets as may be prescribed, and
(ii)such other information as may be prescribed.
[F4(4) The High Court may—
(a )F1on an application made by the person intending to make the proposal, in a case where the nominee has failed to submit the report required by this Article or has died, or
(b )F1on an application made by that person or the nominee, in a case where it is impracticable or inappropriate for the nominee to continue to act as such,
direct that the nominee be replaced as such by another person qualified to act as an insolvency practitionerF5... in relation to the voluntary arrangement.]
F1mod. by SR 2004/307
F2Words in art. 15(1) omitted (26.6.2020) by virtue of Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 7 para. 7 (with ss. 2(2), 5(2))
F5Words in art. 15(4) repealed (1.4.2016) by Insolvency (Amendment) Act (Northern Ireland) 2016 (c. 2), s. 28(2), Sch. 3 para. 5, Sch. 4; S.R. 2016/203, art. 2
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