The Insolvency (Northern Ireland) Order 1989PART IINTRODUCTORY1Title and commencement2General interpretation2A Proceedings under EU Regulation: modified definition of property3“Act as insolvency practitioner”4“Associate”Interpretation for Parts 1A to 7 5Interpretation6“Insolvency” and“go into liquidation”7“Connected with a company”8“Member of a company”Parts 7A to 109Interpretation10“Security”, etc.11“Bankrupt's estate”Interpretation for this Order . . . 12“Receiver or manager”13“Contributory”Parts 1A to 7COMPANY INSOLVENCY; COMPANIES WINDING UPPART 1AMoratoriumCHAPTER 1Introductory13AOverview13AAEligible companiesCHAPTER 2Obtaining a moratorium13BObtaining a moratorium by filing documents at High Court13BAObtaining a moratorium for company subject to winding-up petition13BBObtaining a moratorium for other overseas companies13BCThe relevant documents13BDBeginning of moratorium and appointment of monitor13BEObligations to notify where moratorium comes into forceCHAPTER 3Length of moratoriumInitial period13CEnd of the moratoriumExtension of moratorium13CAExtension by directors without creditor consent13CBExtension by directors with creditor consent13CCCreditor consent for the purposes of Article 13CB13CDExtension by High Court on application of directors13CEExtension while proposal for CVA pending13CFExtension by High Court in the course of other proceedingsEarly termination on certain grounds13CGCompany enters into insolvency procedure etcObligations to notify change in end of moratorium13CHObligations to notify change in end of moratoriumCHAPTER 4Effects of moratoriumIntroductory13DOverview and construction of references to payment holidaysPublicity about moratorium13DAPublicity about moratoriumEffect on creditors etc13DBRestrictions on insolvency proceedings etc13DCRestrictions on enforcement and legal proceedings13DDFloating charges13DEEnforcement of security granted during moratoriumNotification of insolvency proceedings13DFDuty of directors to notify monitor of insolvency proceedings etcRestrictions on transactions13DGRestrictions on obtaining credit13DHRestrictions on grant of security etc13DIProhibition on entering into market contracts etcRestrictions on payments and disposal of property13DJRestrictions on payment of certain pre-moratorium debts13DKRestrictions on disposal of property13DLRestrictions on disposal of hire-purchase propertyDisposals of property free from charges etc13DMDisposal of charged property free from charge13DNDisposal of hire-purchase propertyEffect of contravention of certain provisions of Chapter13DOContravention of certain requirements imposed under this ChapterCHAPTER 5The monitor13EStatus of monitor13EAMonitoring13EBProvision of information to monitor13ECApplication by monitor for directions13EDTermination of moratorium by monitor13EEReplacement of monitor or appointment of additional monitor13EFApplication of Part where two or more persons act as monitor13EGPresumption of validityCHAPTER 6Challenges13FChallenge to monitor’s actions13FAChallenges to monitor remuneration in insolvency proceedings13FBChallenge to directors’ actions13FCChallenge brought by Board of the Pension Protection FundCHAPTER 7Offences: general13GOffence of fraud etc during or in anticipation of moratorium13GAOffence of false representation etc to obtain a moratorium13GBProsecution of delinquent officers of companyCHAPTER 8Miscellaneous and generalSpecial rules for certain kinds of company etc13HRegulated companies: modifications to this Part13HAPower to modify this Part etc in relation to certain companies13HBPower to make provision in connection with pension schemesFloating charges13HCVoid provisions in floating charge documentsInterpretation of this Part13HDMeaning of “pre-moratorium debt” and “moratorium debt”13HEInterpretation of this Part: generalRegulations13HFRegulationsPART IICOMPANY VOLUNTARY ARRANGEMENTSThe proposal14Those who may propose an arrangement14A Moratorium15Procedure where nominee is not the liquidator or administrator16Summoning of meetingsConsideration and implementation of proposal17Decisions of meetings17A Approval of arrangement18Effect of approval19Challenge of decisions19A False representations, etc.20Implementation of proposal20A Prosecution of delinquent officers of company20BArrangements coming to an end prematurelyPART IIIADMINISTRATION21AdministrationPART IIIADMINISTRATION ORDERSMaking, etc., of administration order22Application for order23Effect of application24Effect of order25Notification of orderAdministrators26Appointment of administrator27General powers28Power to deal with charged property, etc.29General duties30Discharge or variation of administration order31Vacation of office32Release of administratorAscertainment and investigation of company's affairs33Information to be given by administrator34Statement of affairs to be submitted to administratorAdministrator's proposals35Statement of proposals36Consideration of proposals by creditors' meeting37Approval of substantial revisionsMiscellaneous38Creditors' committee39Protection of interests of creditors and membersPART IVRECEIVERSHIPGeneral Provisions39AMeaning of “company”40Disqualification of body corporate from acting as receiver41Disqualification of bankrupt42Power of High Court to appoint official receiverReceivers and managers appointed out of court43Time from which appointment is effective44Liability for invalid appointment45Application to High Court for directions46Power of High Court to fix remuneration47Liability for contracts, etc.48Receivership accounts to be delivered to registrarProvisions applicable to every receivership49Notification that receiver or manager appointed50Payment of debts out of assets subject to floating charge51Enforcement of duty to make returnsAdministrative receivers: general52General powers53Power to dispose of charged property, etc.54Agency and liability for contracts55Vacation of officeAdministrative receivers: ascertainment and investigation of company's affairs56Information to be given by administrative receiver57Statement of affairs to be submitted58Report by administrative receiver59Committee of creditorsProhibition of appointment of administrative receiver59AFloating charge holder not to appoint administrative receiver59BFirst exception: capital market59CSecond exception: public-private partnership59DThird exception: utilities59EFourth exception: urban regeneration projects59FFifth exception: project finance59GSixth exception: financial market59HSeventh exception: registered housing association59IEighth exception: licence companies59JArticles 59A to 59I: supplementaryPART VWINDING UP OF COMPANIES REGISTERED UNDER the Companies Act 2006CHAPTER IPRELIMINARYIntroductory60Scheme of this PartContributories61Liability as contributories of present and past members62Directors with unlimited liability63Liability of past directors and shareholders64Limited company formerly unlimited65Unlimited company formerly limited66Nature of contributory's liability67Contributories in case of death of a member68Effect of contributory's bankruptcy69Companies registered but not formed under the Companies Act 2006CHAPTER IIVOLUNTARY WINDING UP (INTRODUCTORY AND GENERAL)Resolutions for, and commencement of, voluntary winding up70Circumstances in which company may be wound up voluntarily71Notice of resolution to wind up voluntarily72Commencement of voluntary winding upConsequences of resolution to wind up73Effect on business and status of company74Avoidance of share transfers, etc., after winding‐up resolutionDeclaration of solvency75Statutory declaration of solvency76Distinction between “members'” and “creditors'” voluntary winding upCHAPTER IIIMEMBERS' VOLUNTARY WINDING UP77Appointment of liquidator78Power to fill vacancy in office of liquidator79General company meeting at each year's end80Final meeting prior to dissolution81Effect of company's insolvency82Conversion to creditors' voluntary winding upCHAPTER IVCREDITORS' VOLUNTARY WINDING UP83Application of this Chapter84Meeting of creditors85Directors to lay statement of affairs before creditors86Appointment of liquidator87Appointment of liquidation committee88Creditors' meeting where winding up converted under Article 8289Cesser of directors' powers90Vacancy in office of liquidator91Meetings of company and creditors at each year's end92Final meeting prior to dissolutionCHAPTER VPROVISIONS APPLYING TO BOTH KINDS OF VOLUNTARY WINDING UP93Distribution of company's property94Appointment or removal of liquidator by the High Court95Notice by liquidator of his appointment96Acceptance of shares, etc., as consideration for sale of company's property97Dissent from arrangement under Article 9698Reference of questions to the High Court99No liquidator appointed or nominated by company100Expenses of voluntary winding up101Saving for certain rightsCHAPTER VIWINDING UP BY THE HIGH COURTGrounds and effect of winding‐up petition102Circumstances in which company may be wound up by the High Court103Definition of inability to pay debts; the statutory demand104Application for winding up104A Petition for winding up on grounds of public interest104B Petition for winding up of SE104CPetition for winding up of SCE105Powers of High Court on hearing of petition106Power to stay or restrain proceedings against company107Avoidance of property dispositions, etc.108Avoidance of sequestration or distressCommencement of winding up109Commencement of winding up by the High Court110Consequences of winding‐up orderInvestigation procedures111Company's statement of affairs112Investigation by official receiver113Public examination of officers114Enforcement of Article 113Appointment of liquidator115Appointment and powers of provisional liquidator116Functions of official receiver in relation to office of liquidator117Appointment by Department118Choice of liquidator at meetings of creditors and contributories119Appointment by the High Court following administration or voluntary arrangementLiquidation committees120Liquidation committeeThe liquidator's functions121General functions in winding up by the High Court122Custody of company's property123Vesting of company property in liquidator124Duty to summon final meeting124AOfficial receiver’s duty to send statement to registrar about other proceedings—General powers of High Court125Power to stay winding up126Settlement of list of contributories and application of assets127Debts due from contributory to company128Power to make calls129Payment into bank of money due to company130Order on contributory to be conclusive evidence131Power to exclude creditors not proving in time132Adjustment of rights of contributories133Inspection of books by creditors, etc.134Payment of expenses of winding up135Power to arrest absconding contributory136Powers of High Court to be cumulative137Delegation of powers to liquidatorCHAPTER VIILIQUIDATORSPreliminary138Style and title of liquidators139Corrupt inducement affecting appointmentLiquidator's powers and duties140Voluntary winding up141Creditors' voluntary winding up142Winding up by the High Court143Supplementary powers144Enforcement of liquidator's duty to make returns, etc.Removal: vacation of office145Removal, etc. (voluntary winding up)146Removal, etc. (winding up by the High Court)Release of liquidator147Release (voluntary winding up)148Release (winding up by the High Court)CHAPTER VIIIPROVISIONS OF GENERAL APPLICATION IN WINDING UPMoratorium: order of priority of payment of debts148AMoratorium debts etc: priorityPreferential debts149Preferential debts (general provision)150Preferential charge on goods distrained , etc Non-preferential debts150ZZANon-preferential debts of financial institutionsProperty subject to floating charge150ZAPayment of expenses of winding up150AShare of assets for unsecured creditorsSpecial managers151Power to appoint special managerDisclaimer152Power to disclaim onerous property153Disclaimer of leaseholds154Land subject to rentcharge155Powers of High Court (general)156Powers of High Court (leaseholds)Miscellaneous matters157Rescission of contracts by the High Court158Power to make over assets to employees159Notification that company is in liquidation160Interest on debts161Company's books to be evidence162Information as to pending liquidations163Resolutions passed at adjourned meetings164Meeting to ascertain wishes of creditors or contributories165Affidavits, etc., in United Kingdom and elsewhereCHAPTER IXDISSOLUTION OF COMPANIES AFTER WINDING UP166Dissolution (voluntary winding up)167Early dissolution168Consequence of notice under Article 167169Dissolution otherwise than under Article 167CHAPTER XMALPRACTICE BEFORE AND DURING LIQUIDATION; PENALISATION OF COMPANIES AND COMPANY OFFICERS; INVESTIGATIONS AND PROSECUTIONSOffences of fraud, deception, etc.170Fraud, etc., in anticipation of winding up171Transactions in fraud of creditors172Misconduct in course of winding up173Falsification of company's books174Material omissions from statement relating to company's affairs175False representations to creditorsPenalisation of directors and officers176Summary remedy against delinquent directors, liquidators, etc.177Fraudulent trading178Wrongful trading. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .179Proceedings under Articles 177 and 178180Restriction on re‐use of company names181Personal liability for debts, following contravention of Article 180Investigation and prosecution of malpractice182Prosecution of delinquent officers and members of company183Obligations arising under Article 182PART VIWINDING UP OF UNREGISTERED COMPANIES184Meaning of “unregistered company”185Winding up of unregistered companies186Inability to pay debts: unpaid creditor for £750 or more187Inability to pay debts: debt remaining unsatisfied after action brought188Inability to pay debts: other cases189Company incorporated outside Northern Ireland may be wound up though dissolved190Contributories in winding up of unregistered company191Power of High Court to stay or restrain proceedings192Actions stayed on winding‐up order193Provisions of this Part to be cumulativePART VIIMISCELLANEOUS PROVISIONS APPLYING TO COMPANIES WHICH ARE INSOLVENT OR IN LIQUIDATIONOffice‐holders194Holders of office to be qualified insolvency practitioners195Appointment to office of two or more persons196Validity of office‐holder's actsManagement by administrators, liquidators, etc.197Supplies of water, electricity, etc.197AFurther protection of essential supplies197BProtection of supplies of goods and services197CPowers to amend Article 197B and Schedule 2ZZA198Getting in the company's property199Duty to co‐operate with office‐holder200Inquiry into company's dealings, etc.201High Court's enforcement powers under Article 200Adjustment of prior transactions (administration and liquidation)202Transactions at an undervalue203Preferences204“Relevant time” under Articles 202, 203205Orders under Articles 202, 203206Extortionate credit transactions207Avoidance of certain floating charges208Unenforceability of liens on books, etc.PARTS 7A TO 10INSOLVENCY OF INDIVIDUALS; BANKRUPTCYPART 7ADEBT RELIEF ORDERSPreliminary208ADebt relief ordersApplications for a debt relief order208BMaking of application208CDuty of official receiver to consider and determine application208DPresumptions applicable to the determination of an applicationMaking and effect of debt relief order208EMaking of debt relief orders208FEffect of debt relief order on administration order208GMoratorium from qualifying debts208HThe moratorium period208IDischarge from qualifying debtsDuties of debtor208JProviding assistance to official receiver, etc.Objections, investigations and revocation208KObjections and investigations208LPower of official receiver to revoke or amend a debt relief orderRole of the High Court208MPowers of High Court in relation to debt relief orders208NInquiry into debtor's dealings and propertyOffences208OFalse representations and omissions208PConcealment or falsification of documents208QFraudulent disposal of property208RFraudulent dealing with property obtained on credit208SObtaining credit or engaging in business208TOffences: supplementarySupplementary208UApproved intermediaries208VDebt relief restrictions orders and undertakings208WRegister of debt relief orders, etc.208XInterpretationPART VIIIINDIVIDUAL VOLUNTARY ARRANGEMENTSCHAPTER IDEEDS OF ARRANGEMENT209Deeds of arrangement to which this Chapter appliesRegistration of deeds of arrangement210Registrar and deputy registrar211Mode of registration212Form of register213Rectification of registerAvoidance of deeds of arrangement214Avoidance of unregistered deeds of arrangement215Avoidance of deeds of arrangement unless assented to by a majority of the creditors216Deeds otherwise void or voidableProvisions as to trustees217Notice to creditors of avoidance of deed218Trustee acting when deed of arrangement void219Protection of trustees under void deeds220Payment of expenses incurred by trustees221Security by trustee222Transmission of accounts223Preferential payment to creditorMiscellaneous224Applications to the High Court225Inspection of register, etc., certified copies and evidenceCHAPTER IIVOLUNTARY ARRANGEMENTSMoratorium for insolvent debtor226Interim order of High Court227Application for interim order228Effect of application229Cases in which interim order can be made230Nominee's report on debtor's proposal Procedure where no interim order made230ADebtor's proposal and nominee's reportCreditors' meeting231Summoning of creditors' meetingConsideration and implementation of debtor's proposal232Decisions of creditors' meeting233Report of decisions to High Court234Effect of approval235Additional effect on undischarged bankrupt236Challenge of meeting's decision236A False representations etc.236BProsecution of delinquent debtors236CArrangements coming to an end prematurely237Implementation and supervision of approved voluntary arrangementFast-track voluntary arrangement237AAvailability237BDecision237CResult237DApproval of voluntary arrangement237EImplementation237FRevocation237GOffencesPART IXBANKRUPTCYCHAPTER IBANKRUPTCY PETITIONS; BANKRUPTCY ORDERSPreliminary238Who may present a bankruptcy petition239Conditions to be satisfied in respect of debtor240Other preliminary conditionsCreditor's petition241Grounds of creditor's petition242Definition of “inability to pay”, etc.; the statutory demand243Creditor with security244Expedited petition245Proceedings on creditor's petitionDebtor's petition246Grounds of debtor's petition247Appointment of insolvency practitioner by the High Court248Action on report of insolvency practitioner248A Debtor who meets conditions for a debt relief order249Summary administrationOther cases for special consideration250Default in connection with voluntary arrangement251Petition in respect of a solicitorCommencement and duration of bankruptcy; discharge252Commencement and continuance253Duration254Discharge where bankrupt is a solicitor255Effect of discharge255APost-discharge restrictions256Power of High Court to annul bankruptcy orderCHAPTER IIPROTECTION OF BANKRUPT'S ESTATE AND INVESTIGATION OF HIS AFFAIRS256ABankrupt's home ceasing to form part of estate257Restrictions on dispositions of property258Restriction on proceedings and remedies259Power to appoint interim receiver260Receivership pending appointment of trustee261Statement of affairs262Investigatory duties of official receiver263Public examination of bankrupt264Duties of bankrupt in relation to official receiverCHAPTER IIITRUSTEES IN BANKRUPTCYTenure of office as trustee265Power to make appointments266Summoning of meeting to appoint first trustee267Power of creditors to requisition meeting268Failure of meeting to appoint trustee269Appointment of trustee by Department270Special cases271Removal of trustee; vacation of office272Release of trustee273Vacancy in office of trusteeControl of trustee274Creditors' committee275Exercise by Department of functions of creditors' committee276General control of trustee by the High Court277Liability of trusteeCHAPTER IVADMINISTRATION BY TRUSTEEPreliminary278General functions of trusteeAcquisition, control and realisation of bankrupt's estate279Vesting of bankrupt's estate in trustee279A Property subject to restraint order279AAProperty released from detention279B Property in respect of which receivership or administration order made279BAProperty in respect of which realisation order made279C Property subject to certain orders where confiscation order discharged or quashed280After‐acquired property281Vesting in trustee of certain items of excess value282Time‐limit for notice under Article 280 or 281283Income payments orders283AIncome payments agreement284Acquisition by trustee of control285Obligation to surrender control to trustee286Charge on bankrupt's home286ALow value home: application for sale, possession or charge287Powers of trusteeDisclaimer of onerous property288Disclaimer (general power)289Notice requiring trustee's decision290Disclaimer of leaseholds291Disclaimer of dwelling house292Disclaimer of land subject to rentcharge293High Court order vesting disclaimed property294Order under Article 293 in respect of leaseholdsDistribution of bankrupt's estate295Proof of debts296Mutual credit and set‐off297Distribution by means of dividend298Claims by unsatisfied creditors299Distribution of property in specie300Priority of debts301Preferential charge on goods distrained302Debts to spouse or civil partner303Final distribution304Final meeting305Saving for bankrupt's homeSupplemental306Duties of bankrupt in relation to trustee307Stay of distribution in case of second bankruptcy308Adjustment between earlier and later bankruptcy estatesCHAPTER VEFFECT OF BANKRUPTCY ON CERTAIN RIGHTS, TRANSACTIONS, ETC.Rights of occupation309Rights of occupation, etc., of bankrupt's spouse or civil partner310Rights of occupation of bankrupt311Payments in respect of premises occupied by bankruptAdjustment of prior transactions, etc.312Transactions at an undervalue313Preferences314“Relevant time” under Articles 312, 313315Orders under Articles 312, 313315A Recovery of excessive pension contributions315BOrders under Article 315A315COrders under Article 315A: supplementary315D Recovery of excessive contributions in pension-sharing cases315EOrders under Article 312 or 313 in respect of pension-sharing transactions315FOrders under Article 312 or 313 in pension-sharing cases: supplementary316Extortionate credit transactions317Avoidance of general assignment of book debts318Contracts to which bankrupt is a party319Apprenticeships, etc.320Unenforceability of liens on books, etc.320A Arbitration agreements to which bankrupt is party.CHAPTER VIBANKRUPTCY OFFENCESPreliminary321Scheme of this Chapter322Definitions for the purposes of this Chapter323Defence of innocent intentionWrongdoing by the bankrupt before and after bankruptcy324Non‐disclosure325Concealment of property326Concealment of books and papers; falsification327False statements328Fraudulent disposal of property329Absconding330Fraudulent dealing with property obtained on credit331Obtaining credit; engaging in business332Failure to keep proper accounts of business333GamblingCHAPTER VIIPOWERS OF HIGH COURT IN BANKRUPTCY334General control of High Court335Power of arrest336Seizure of bankrupt's property337Inquiry into bankrupt's dealings and property338High Court's enforcement powers under Article 337339Provision corresponding to Article 337, where interim receiver appointed340Order for production of documents by Inland Revenue341Power to appoint special manager342Re‐direction of bankrupt's letters, etc.PART XINDIVIDUAL INSOLVENCY: GENERAL PROVISIONS343Supplies of water, electricity, etc.344Time‐limits345Formal defectsPARTS XI TO XIVMISCELLANEOUS MATTERS BEARING ON BOTH COMPANY AND INDIVIDUAL INSOLVENCYPART XIPREFERENTIAL AND NON-PREFERENTIAL DEBTS IN COMPANY AND INDIVIDUAL INSOLVENCY346Categories of preferential debts347“The relevant date”347AFinancial institutions and their non-preferential debtsPART XIIINSOLVENCY PRACTITIONERS AND THEIR QUALIFICATIONRestrictions on unqualified persons acting as liquidator, trustee in bankruptcy, etc.348Acting as insolvency practitioner without qualification348A Authorisation of nominees and supervisors348BOfficial receiver as nominee or supervisorThe requisite qualification, and the means of obtaining it349Persons not qualified to act as insolvency practitioners349AAuthorisation349BPartial authorisation: acting in relation to partnerships350Recognised professional bodies350AApplication for recognition as recognised professional bodyRegulatory objectives350BApplication of regulatory objectives350CMeaning of “regulatory functions” and “regulatory objectives”Oversight of recognised professional bodies350DDirections350EDirections: procedure350FFinancial penalty350GFinancial penalty: procedure350HAppeal against financial penalty350IRecovery of financial penalties350JReprimand350KReprimand: procedureRevocation etc. of recognition350LRevocation of recognition at instigation of Department350MOrders under Article 350L: procedure350NRevocation of recognition at request of bodyCourt sanction of insolvency practitioners in public interest cases350ODirect sanction orders350PApplication for, and power to make, direct sanctions order350QDirect sanctions order: conditions350RDirect sanctions direction instead of orderGeneral350SPower for Department to obtain information350TCompliance orders351Authorisation by competent authority352Grant, refusal and withdrawal of authorisation353Notices354Right to make representationsPART XIIIPUBLIC ADMINISTRATIONOfficial receivers355Appointment, etc., of official receivers356Functions and status of official receivers357Deputy official receiversInsolvency Account358Insolvency Account358AAdjustment of balancesInsolvency rules[[[359Insolvency rules360Committee to review rules under Article 359Fees[[[361Fees orders361AFees orders (supplementary)Specification, increase and reduction of money sums relevant in the operation of this Order362Monetary limitsInsolvency practice363Regulations for purposes of Part XIIOther order‐making powers364Insolvent partnerships365Insolvent estates of deceased persons365A Insolvent estates: joint tenancies366Formerly authorised banksPART XIVMISCELLANEOUSProvisions against debt avoidance367Transactions defrauding creditors368Those who may apply for an order under Article 367369Provision which may be made by order under Article 367Disqualifications, reviews and reports370Assembly disqualification370AIrrelevance of privilege371Review, etc., by High Court of its orders372Annual reportLegal proceedings373Prosecution and punishment of offences374Summary proceedings[[375Admissibility in evidence of statements of affairs, etc.Supplemental376Judicial notice of court documents377Exemption from stamp duty378Crown application379Transitional provisions and savingsArt.380 rep. by 1996 NI 16 Art.381—Amendments Art.382—Repeals PART 15SUPPLEMENTARY PROVISIONS383Introductory384Representation of corporations at meetings385Legal professional privilege386Enforcement of company's filing obligations387Application of filing obligations to overseas companiesSCHEDULESSCHEDULE ZA1MORATORIUM: ELIGIBLE COMPANIESEligible companies1A company is “ eligible ” for the purposes of...Companies subject to, or recently subject to, moratorium or an insolvency procedure2(1) A company is excluded from being eligible if— Insurance companies3(1) A company is excluded from being eligible if— Banks4(1) A company is excluded from being eligible if— Electronic money institutions5A company is excluded from being eligible if it is...Investment banks and investment firms6(1) A company is excluded from being eligible if it...Companies that are party to market contracts or subject to market charges, etc7(1) A company is excluded from being eligible if it...Participants in designated systems8A company is excluded from being eligible if— Payment institutions9A company is excluded from being eligible if it is...Operators of payment systems, infrastructure providers etc10A company is excluded from being eligible if— Recognised investment exchanges, clearing houses and CSDs11A company is excluded from being eligible if it is...Securitisation companies12A company is excluded from being eligible if it is...Parties to capital market arrangement13(1) A company is excluded from being eligible if, on...14(1) For the purposes of paragraph 13 an investment is...Public-private partnership project companies15(1) A company is excluded from being eligible if, on...16(1) For the purposes of paragraph 15 “ public-private partnership...17(1) For the purposes of paragraph 15 a project has...Overseas companies with corresponding functions18A company is excluded from being eligible if its registered...Interpretation of Schedule19(1) This paragraph applies for the purposes of this Schedule....Power to amend Schedule20(1) Regulations may amend this Schedule, apart from paragraph 2,...SCHEDULE ZA2MORATORIUM: CONTRACT OR OTHER INSTRUMENT INVOLVING FINANCIAL SERVICESIntroductory1For the purposes of Article 13D “ contract or other...Financial contracts2(1) This paragraph applies to a financial contract. Securities financing transactions3(1) This paragraph applies to— (a) a securities financing transaction,...Derivatives4(1) This paragraph applies to— (a) a derivative, and Spot contracts5(1) This paragraph applies to— (a) a spot contract, and...Capital market investments6(1) This paragraph applies to an agreement which is, or...Contracts forming part of a public-private partnership7This paragraph applies to a contract forming part of a...Market contracts8This paragraph applies to a market contract within the meaning...Qualifying collateral arrangements and qualifying property transfers9This paragraph applies to qualifying collateral arrangements and qualifying property...Contracts secured by certain charges or arrangements10This paragraph applies to a contract where any obligation under...Default arrangements and transfer orders11This paragraph applies to a contract which is included in...Card-based payment transactions12This paragraph applies to a contract to accept and process...Power to amend Schedule13(1) Regulations may amend this Schedule so as to change...SCHEDULE A1MORATORIUM WHERE DIRECTORS PROPOSE VOLUNTARY ARRANGEMENTPART IINTRODUCTORYInterpretation1. . . . . . . . . ....Eligible companies2. . . . . . . . . ....3. . . . . . . . . ....4. . . . . . . . . ....Capital market arrangement5. . . . . . . . . ....Public private partnership6. . . . . . . . . ....Liability under an arrangement7. . . . . . . . . ....Interpretation of capital market arrangement8. . . . . . . . . ....Capital market investment9. . . . . . . . . ....10. . . . . . . . . ....Debt11. . . . . . . . . ....Interpretation of project company12. . . . . . . . . ....Public-private partnership project13. . . . . . . . . ....Step-in rights14. . . . . . . . . ....“Person”15. . . . . . . . . ....16. . . . . . . . . ....PART IIOBTAINING A MORATORIUMNominee's statement17. . . . . . . . . ....Documents to be submitted to High Court18. . . . . . . . . ....Duration of moratorium19. . . . . . . . . ....Notification of beginning of moratorium20. . . . . . . . . ....21. . . . . . . . . ....Notification of end of moratorium22. . . . . . . . . ....PART IIIEFFECTS OF MORATORIUMEffect on creditors, etc.23. . . . . . . . . ....24. . . . . . . . . ....25. . . . . . . . . ....Effect on company26. . . . . . . . . ....Company invoices, etc.27. . . . . . . . . ....Obtaining credit during moratorium28. . . . . . . . . ....Disposals and payments29. . . . . . . . . ....30. . . . . . . . . ....Disposal of charged property, etc.31. . . . . . . . . ....32. . . . . . . . . ....Market contracts, etc.33. . . . . . . . . ....PART IVNOMINEESMonitoring of company's activities34. . . . . . . . . ....Withdrawal of consent to act35. . . . . . . . . ....Challenge of nominee's actions, etc.36. . . . . . . . . ....37. . . . . . . . . ....Replacement of nominee by High Court38(1) The High Court may— (a) on an application made...PART VCONSIDERATION AND IMPLEMENTATION OF VOLUNTARY ARRANGEMENTSummoning of meetings39. . . . . . . . . ....Conduct of meetings40. . . . . . . . . ....Approval of voluntary arrangement41(1) The meetings summoned under paragraph 39 shall decide whether...Extension of moratorium42. . . . . . . . . ....43(1) The conditions which may be imposed when a moratorium...44. . . . . . . . . ....Moratorium committee45. . . . . . . . . ....Effectiveness of decisions46. . . . . . . . . ....Effect of approval of voluntary arrangement47. . . . . . . . . ....Challenge of decisions48. . . . . . . . . ....Implementation of voluntary arrangement49(1) This paragraph applies where a voluntary arrangement approved by...PART VIMISCELLANEOUSChallenge of directors' actions50. . . . . . . . . ....Offences51. . . . . . . . . ....52. . . . . . . . . ....Void provisions in floating charge documents53. . . . . . . . . ....Functions of the Financial Conduct Authority and the Prudential Regulation Authority54. . . . . . . . . ....Subordinate legislation55. . . . . . . . . ....SCHEDULE B1ADMINISTRATIONARRANGEMENT OF SCHEDULEINTRODUCTORYInterpretation1(1) In this Schedule— “ administrative receiver ” has the...Non-UK companies1AA company incorporated outside the United Kingdom that has a...NATURE OF ADMINISTRATIONAdministration2(1) For the purposes of this Order “ administrator ”...3A person may be appointed as administrator of a company—...Purpose of administration4(1) The administrator of a company must perform his functions...5The administrator of a company must perform his functions as...Status of administrator6An administrator is an officer of the High Court (whether...General restrictions7A person may be appointed as administrator of a company...8A person may not be appointed as administrator of a...9(1) A person may not be appointed as administrator of...10(1) A person may not be appointed as administrator of...APPOINTMENT OF ADMINISTRATOR BY HIGH COURTAdministration order11An administration order is an order appointing a person as...Conditions for making order12The High Court may make an administration order in relation...Administration application13(1) An application to the High Court for an administration...Powers of High Court14(1) On hearing an administration application the High Court may—...APPOINTMENT OF ADMINISTRATOR BY HOLDER OF FLOATING CHARGEPower to appoint15(1) The holder of a qualifying floating charge in respect...Restrictions on power to appoint16(1) A person may not appoint an administrator under paragraph...17An administrator may not be appointed under paragraph 15 while...18An administrator of a company may not be appointed under...Notice of appointment19(1) A person who appoints an administrator of a company...Commencement of appointment20The appointment of an administrator under paragraph 15 takes effect...21A person who appoints an administrator under paragraph 15— Invalid appointment: indemnity22(1) This paragraph applies where— (a) a person purports to...APPOINTMENT OF ADMINISTRATOR BY COMPANY OR DIRECTORSPower to appoint23(1) A company may appoint an administrator. Restrictions on power to appoint24(1) This paragraph applies where an administrator of a company...25(1) If a moratorium for a company under Schedule A1...26An administrator of a company may not be appointed under...Notice of intention to appoint27(1) A person who proposes to make an appointment under...28(1) A person who gives notice of intention to appoint...29(1) An appointment may not be made under paragraph 23...Notice of appointment30(1) A person who appoints an administrator of a company...31In a case in which no person is entitled to...Commencement of appointment32The appointment of an administrator under paragraph 23 takes effect...33A person who appoints an administrator under paragraph 23— 34If before the requirements of paragraph 30 are satisfied the...Invalid appointment: indemnity35(1) This paragraph applies where— (a) a person purports to...ADMINISTRATION APPLICATION — SPECIAL CASESApplication by holder of floating charge36(1) This paragraph applies where an administration application in respect...Intervention by holder of floating charge37(1) This paragraph applies where— (a) an administration application in...Application where company in liquidation38(1) This paragraph applies where the holder of a qualifying...39(1) The liquidator of a company may make an administration...Effect of administrative receivership40(1) Where there is an administrative receiver of a company...EFFECT OF ADMINISTRATIONDismissal of pending winding-up petition41(1) A petition for the winding up of a company—...Dismissal of administrative or other receiver42(1) When an administration order takes effect in respect of...Moratorium on insolvency proceedings43(1) This paragraph applies to a company in administration. Moratorium on other legal process44(1) This paragraph applies to a company in administration. Interim moratorium45(1) This paragraph applies where an administration application in respect...Publicity46(1) While a company is in administration, every business document...PROCESS OF ADMINISTRATIONAnnouncement of administrator's appointment47(1) This paragraph applies where a person becomes the administrator...Statement of company's affairs48(1) As soon as is reasonably practicable after appointment the...49(1) A person required to submit a statement of affairs...Administrator's proposals50(1) The administrator of a company shall make a statement...Creditors' meeting51(1) In this Schedule “ creditors' meeting ” means a...Requirement for initial creditors' meeting52(1) Each copy of an administrator's statement of proposals sent...53(1) Paragraph 52(1) shall not apply where the statement of...Business and result of initial creditors' meeting54(1) An initial creditors' meeting to which an administrator's proposals...Revision of administrator's proposals55(1) This paragraph applies where— (a) an administrator's proposals have...Failure to obtain approval of administrator's proposals56(1) This paragraph applies where an administrator reports to the...Further creditors' meetings57(1) The administrator of a company shall summon a creditors'...Creditors' committee58(1) A creditors' meeting may establish a creditors' committee. Correspondence instead of creditors' meeting59(1) Anything which is required or permitted by or under...FUNCTIONS OF ADMINISTRATORGeneral powers60(1) The administrator of a company may do anything necessary...61(1) The administrator of a company has the powers specified...61A(1) Regulations may make provision for— (a) prohibiting, or 62The administrator of a company— (a) may remove a director...63The administrator of a company may call a meeting of...64The administrator of a company may apply to the High...65(1) A company in administration or an officer of a...Distribution65A(1) This paragraph applies where a company enters administration before...66(1) If the assets of a company are sufficient to...67If the debts or other liabilities payable under paragraph 65A...General duties68The administrator of a company shall on his appointment take...69(1) Subject to sub-paragraph (2), the administrator of a company...Administrator as agent of company70In exercising his functions under this Schedule the administrator of...Charged property: floating charge71(1) The administrator of a company may dispose of or...Charged property: non-floating charge72(1) The High Court may by order enable the administrator...Hire-purchase property73(1) The High Court may by order enable the administrator...Protection for priority creditor74(1) An administrator's statement of proposals under paragraph 50 may...Challenge to administrator's conduct of company75(1) A creditor or member of a company in administration...Misfeasance76(1) The High Court may examine the conduct of a...ENDING ADMINISTRATIONAutomatic end of administration77(1) The appointment of an administrator shall cease to have...78(1) An order of the High Court under paragraph 77—...79(1) In paragraph 77(2)(b) “ consent ” means consent of—...Court ending administration on application of administrator80(1) On the application of the administrator of a company...Termination of administration where objective achieved81(1) This paragraph applies where an administrator of a company...Court ending administration on application of creditor82(1) On the application of a creditor of a company...Public interest winding-up83(1) This paragraph applies where a winding-up order is made...Moving from administration to creditors' voluntary liquidation84(1) This paragraph applies where the administrator of a company...Moving from administration to dissolution85(1) If the administrator of a company thinks that the...Discharge of administration order where administration ends86(1) This paragraph applies where— (a) the High Court makes...Notice to registrar where administration ends87(1) This paragraph applies where the High Court makes an...REPLACING ADMINISTRATORResignation of administrator88(1) An administrator may resign only in prescribed circumstances. Removal of administrator from office89The High Court may by order remove an administrator from...Administrator ceasing to be qualified90(1) The administrator of a company shall vacate office if...Supplying vacancy in office of administrator91Paragraphs 92 to 96 apply where an administrator— 92(1) Where the administrator was appointed by administration order, the...93Where the administrator was appointed under paragraph 15 the holder...94(1) Where the administrator was appointed under paragraph 23(1) by...95(1) Where the administrator was appointed under paragraph 23(2) the...96The High Court may replace an administrator on the application...Substitution of administrator: competing floating charge-holder97(1) This paragraph applies where an administrator of a company...Substitution of administrator appointed by company or directors: creditors' meeting98(1) This paragraph applies where— (a) an administrator of a...Vacation of office: discharge from liability99(1) Where a person ceases to be the administrator of...Vacation of office: charges and liabilities100(1) This paragraph applies where a person ceases to be...GENERALJoint and concurrent administrators101(1) In this Schedule— (a) a reference to the appointment...102(1) This paragraph applies where two or more persons are...103(1) This paragraph applies where two or more persons are...104(1) Where a company is in administration, a person may...Presumption of validity105An act of the administrator of a company is valid...Majority decision of directors106A reference in this Schedule to something done by the...Penalties107(1) A person who is guilty of an offence under...Extension of time limit108(1) Where a provision of this Schedule provides that a...109(1) A period specified in paragraph 50(5), 51(1)(b) or 52(2)...110Where a period is extended under paragraph 108 or 109,...Amendment of provision about time111(1) The Department may by order amend a provision of...SCHEDULE 1POWERS OF ADMINISTRATOR OR ADMINISTRATIVE RECEIVER1Power to take possession of, collect and get in the property of the company and,...2Power to sell or otherwise dispose of the company's property, including the goodwill and book...3Without prejudice to Article 28 or 30 of the Property...4Power to raise or borrow money and grant security therefor over the property of the...5Power to appoint a solicitor or accountant or other professionally qualified person to assist him...6Power to bring or defend any action or other legal proceedings in the name and...7Power to refer to arbitration any question affecting the company.8Power to effect and maintain insurances in respect of the business and property of the...9Power to use the company's seal.10Power to do all acts and to execute in the name and on behalf of...11Power to draw, accept, make and endorse any bill of exchange or promissory note in...12Power to appoint any agent to do any business which he is unable to do...13Power to do all such things (including the carrying out of works) as may be...14Power to make any payment which is necessary or incidental to the performance of his...15Power to carry on the business of the company.16Power to establish subsidiaries of the company.17Power to transfer to subsidiaries of the company the whole or any part of the...18Power to grant or accept a surrender of a lease or tenancy of any of...19Power to make any arrangement or compromise on behalf of the company.20Power to call up any uncalled capital of the company.21Power to rank and claim in the bankruptcy, insolvency or liquidation of any person indebted...22Power to present or defend a petition for the winding up of the company.23Power to change the situation of the company's registered office.24Power to do all other things incidental to the exercise of the foregoing powers.SCHEDULE 1AEXCEPTIONS TO PROHIBITION ON APPOINTMENT OF ADMINISTRATIVE RECEIVER: SUPPLEMENTARY PROVISIONSCapital market arrangement1For the purposes of Article 59B an arrangement is a capital market arrangement if—Capital market investment2For the purposes of Article 59B an investment is a capital market investment if it—3An investment is also a capital market investment for the purposes of Article 59B if“Agreement”4or the purposes of Articles 59B and 59F and this Schedule “Debt5he debt of at least £50 million referred to in Article 59B(1)(a) or 59F(2)(a)—Step-in rights6For the purposes of Articles 59C to 59F a project has “Project company7For the purposes of Articles 59C to 59F a company is a ““Resources”8In Article 59C ““Public body”9In Article 59C “Regulated business10For the purposes of Article 59D a business is regulated if it is carried on—“Person”11A reference to a person in this Schedule includes a reference to a partnership orSCHEDULE 2POWERS OF LIQUIDATOR IN A WINDING UPPART IPOWERS EXERCISABLE WITH SANCTION1Power to pay any class of creditors in full.2Power to make any compromise or arrangement with creditors or persons claiming to be creditors,...3Power to compromise, on such terms as may be agreed—...3APower to bring legal proceedings under Article 177, 178, 202, 203 or 367.PART IIPOWERS EXERCISABLE WITHOUT SANCTION IN VOLUNTARY WINDING UP, WITH SANCTION IN WINDING UP BY THE HIGH COURT4Power to bring or defend any action or other legal proceeding in the name and...5Power to carry on the business of the company so far as may be necessary...PART IIIPOWERS EXERCISABLE WITHOUT SANCTION IN ANY WINDING UP6Power to sell any part of the company's property, including...7Without prejudice to Article 28 or 30 of the Property...7APower to compromise, on such terms as may be agreed—...8Power to do all acts and execute, in the name...8APower to use the company's seal. 9Power to prove, rank and claim in the bankruptcy or...10Power to draw, accept, make and endorse any bill of...11Power to raise on the security of the assets of...12(1) Power to take out in his official name letters...13Power to appoint an agent to do any business which...14Power to do all such other things as may be...SCHEDULE 2ZZAPROTECTION OF SUPPLIES UNDER ARTICLE 197B: EXCLUSIONSPART 1ESSENTIAL SUPPLIESEssential supplies1(1) Article 197B(3) and (4) do not apply in relation...PART 2PERSONS INVOLVED IN FINANCIAL SERVICESIntroductory2Article 197B does not apply in relation to a contract...Insurers3(1) This paragraph applies where either the company or the...Banks4(1) This paragraph applies where either the company or the...Electronic money institutions5This paragraph applies where either the company or the supplier...Investment banks and investment firms6(1) This paragraph applies where either the company or the...Payment institutions7This paragraph applies where either the company or the supplier...Operators of payment systems, infrastructure providers etc8This paragraph applies where either the company or the supplier...Recognised investment exchanges etc9This paragraph applies where either the company or the supplier...Securitisation companies10This paragraph applies where either the company or the supplier...Overseas activities11This paragraph applies where either the company or the supplier...PART 3CONTRACTS INVOLVING FINANCIAL SERVICESIntroductory12To the extent that anything to which any of paragraphs...Financial contracts13(1) This paragraph applies to a financial contract. Securities financing transactions14(1) This paragraph applies to— (a) a securities financing transaction,...Derivatives15(1) This paragraph applies to— (a) a derivative, and Spot contracts16(1) This paragraph applies to— (a) a spot contract, and...Capital market investments17(1) This paragraph applies to an agreement which is, or...Contracts forming part of a public-private partnership18This paragraph applies to a contract forming part of a...PART 4OTHER EXCLUSIONSFinancial markets and insolvency19Nothing in Article 197B affects the operation of— Set-off and netting20Nothing in Article 197B affects any set-off or netting arrangements...Aircraft equipment21Nothing in Article 197B affects the International Interests in Aircraft...SCHEDULE 2ZACONDITIONS FOR MAKING A DEBT RELIEF ORDERPART 1CONDITIONS WHICH MUST BE METConnection with Northern Ireland1(1) The debtor— (a) is domiciled in Northern Ireland on the application date; or (b)...Debtor's previous insolvency history2The debtor is not, on the determination date— (a) an undischarged bankrupt; (b) subject to...3A debtor's petition for the debtor's bankruptcy under Part 9— (a) has not been presented...4A creditor's petition for the debtor's bankruptcy under Part 9— (a) has not been presented...5A debt relief order has not been made in relation to the debtor in the...Limit on debtor's overall indebtedness6(1) The total amount of the debtor's debts on the determination date, other than unliquidated...Limit on debtor's monthly surplus income7(1) The debtor's monthly surplus income (if any) on the determination date does not exceed...Limit on value of debtor's property8(1) The total value of the debtor's property on the determination date does not exceed...PART 2OTHER CONDITIONS9(1) The debtor has not entered into a transaction with any person at an undervalue...10(1) The debtor has not given a preference to any person during the period between—...SCHEDULE 2ZBDEBT RELIEF RESTRICTIONS ORDERS AND UNDERTAKINGSDebt relief restrictions order1(1) A debt relief restrictions order may be made by the High Court in relation...Grounds for making order2(1) The High Court shall grant an application for a debt relief restrictions order if...Timing of application for order3An application for a debt relief restrictions order in respect of a debtor may be...Duration of order4(1) A debt relief restrictions order— (a) comes into force when it is made, and...Interim debt relief restrictions order5(1) This paragraph applies at any time between— (a) the institution of an application for...6(1) This paragraph applies to a case in which both an interim debt relief restrictions...Debt relief restrictions undertaking7(1) A debtor may offer a debt relief restrictions undertaking to the Department. (2) In...8A reference in a statutory provision to a person in respect of whom a debt...9(1) A debt relief restrictions undertaking— (a) comes into force on being accepted by the...Effect of revocation of debt relief order10Unless the High Court directs otherwise, the revocation at any time of a debt relief...SCHEDULE 2ABANKRUPTCY RESTRICTIONS ORDER AND UNDERTAKINGBankruptcy restrictions order1(1) A bankruptcy restrictions order may be made by the High Court. (2) An order...Grounds for making order2(1) The High Court shall grant an application for a bankruptcy restrictions order if it...Timing of application for order3(1) An application for a bankruptcy restrictions order in respect of a bankrupt must be...Duration of order4(1) A bankruptcy restrictions order— (a) shall come into force when it is made, and...Interim bankruptcy restrictions order5(1) This paragraph applies at any time between— (a) the institution of an application for...6(1) This paragraph applies to a case in which both an interim bankruptcy restrictions order...Bankruptcy restrictions undertaking7(1) A bankrupt may offer a bankruptcy restrictions undertaking to the Department. (2) In determining...8A reference in a statutory provision to a person in respect of whom a bankruptcy...9(1) A bankruptcy restrictions undertaking— (a) shall come into force on being accepted by the...Effect of annulment of bankruptcy order10Where a bankruptcy order is annulled under Article 256(1)(a)— (a) any bankruptcy restrictions order, interim...11Where a bankruptcy order is annulled under Article 235, 237D or 256(1)(b)— (a) the annulment...Registration12The Department shall maintain a register of— (a) bankruptcy restrictions orders, (b) interim bankruptcy restrictions...SCHEDULE 3POWERS OF TRUSTEE IN BANKRUPTCYPART IPOWERS EXERCISABLE WITH SANCTION1Power to carry on any business of the bankrupt so far as may be necessary...2Power to bring, institute or defend any action or legal proceedings relating to the property...2APower to bring legal proceedings under Article 312, 313 or 367.3Power to accept as the consideration for the sale of any property comprised in the...4Power to mortgage or pledge any part of the property comprised in the bankrupt's estate...5Power, where any right, option or other power forms part of the bankrupt's estate, to...6Power to refer to arbitration, or compromise on such terms...7Power to make such compromise or other arrangement as may be thought expedient with creditors,...8Power to make such compromise or other arrangement as may...PART IIPOWERS EXERCISABLE WITHOUT SANCTION9Power to sell any part of the property for the...10Without prejudice to Article 28 or 30 of the Property...10APower to refer to arbitration, or compromise on such terms...10BPower to make such compromise or other arrangement as may...11Power to give receipts for any money received by him,...12Power to prove, rank, claim and draw a dividend in...13Power to exercise in relation to any property comprised in...14Power to deal with any property comprised in the estate...PART IIIANCILLARY POWERS15For the purposes of, or in connection with, the exercise of any of his powers...SCHEDULE 4THE CATEGORIES OF PREFERENTIAL DEBTSCategory 1: Debts due to Inland Revenue1. . . . . . . . . ....2. . . . . . . . . ....Category 2: Debts due to Customs and Excise3. . . . . . . . . ....3A. . . . . . . . . ....3B. . . . . . . . . ....3C. . . . . . . . . ....4. . . . . . . . . ....5. . . . . . . . . ....5A. . . . . . . . . ....5B. . . . . . . . . ....5C. . . . . . . . . ....Category 3: Social security contributions6. . . . . . . . . ....7. . . . . . . . . ....Category 4: Contributions to occupational pension schemes, etc.8Any sum which is owed by the debtor and is...Category 5: Remuneration, etc., of employees9So much of any amount which— (a) is owed by...10An amount owed by way of accrued holiday remuneration, in...11So much of any sum owed in respect of money...12So much of any amount which— (a) is ordered (whether...Interpretation for Category 513(1) For the purposes of paragraphs 9 to 12, a...14(1) This paragraph relates to a case in which a...15Without prejudice to paragraphs 13 and 14— Orders under Category 516An order under paragraph 9 or 12— Category 6: Levies on coal and steel production17Any sums due at the relevant date from the debtor...Category 6A: Debts owed to the Financial Services Compensation Scheme17AAny debt owed by the debtor to the scheme manager...Category 7: Deposits covered by Financial Services Compensation Scheme18So much of any amount owed at the relevant date...Category 8: Other deposits19So much of any amount owed at the relevant date...20An amount owed at the relevant date by the debtor...Interpretation for Categories 6A, 7 and 821(A1) In paragraph 17A “ the scheme manager ” has...SCHEDULE 5PROVISIONS CAPABLE OF INCLUSION IN COMPANY INSOLVENCY RULESHigh Court1(1) Provision for regulating the practice and procedure of the High Court so far as...2Provision conferring rights of audience, in the High Court so far as relating to, and...Notices, etc.3Provision requiring notice of any proceedings in connection with or arising out of the insolvency...4Provision with respect to the form, manner of serving, contents and proof of any petition,...5Provision specifying the persons to whom any notice is to be given.Registration of voluntary arrangements6Provision for the registration of voluntary arrangements approved under Part II, including provision for the...Provisional liquidator7Provision as to the manner in which a provisional liquidator appointed under Article 115 is...Conduct of insolvency8Provision with respect to the certification of any person as,...9The following provision with respect to meetings of a company's creditors, contributories or members— (a)...10(1) Provision as to the functions, membership and proceedings of a committee established under Article...11Provision as to the manner in which any requirement that may be imposed on a...12Provision as to the debts that may be proved in a winding up, as to...13Provision with respect to the manner of the distribution of the property of a company...14Provision which, with or without modifications, applies in relation to the winding up of companies...14AProvision about the application of Article 150A which may include, in particular— (a) provision enabling...Administration14BProvision which—Financial provisions15Provision as to the amount, or manner of determining the amount, payable to the liquidator,...16Provision with respect to the manner in which money received by the liquidator of a...16AProvision enabling the Department to set the rate of interest paid on sums which have...17Provision as to the costs that may be treated as the expenses of a winding...18Provision as to the costs that may be treated as properly incurred by the administrator...19Provision as to the costs that may be incurred for any of the purposes of...Information and records20Provision requiring officers of the High Court— (a) to keep books and other records with...21Provision requiring a creditor, member or contributory, or such a committee as is mentioned in...22Provision as to the manner in which public examinations under Articles 113 and 114 and...23Provision imposing requirements with respect to— (a) the preparation and keeping by the liquidator, administrator...24Provision requiring the person who is the supervisor of a voluntary arrangement approved under Part...25Provision as to the manner in which the liquidator of a company is to act...26Provision imposing requirements in connection with the carrying out of functions under Article 10(4) of...General27Provision conferring power on the Department to make regulations with respect to so much of...28Provision conferring a discretion on the High Court.29Provision conferring power on the High Court to make orders for the purpose of securing...30Provision making non‐compliance with any of the rules a criminal offence.SCHEDULE 6PROVISIONS CAPABLE OF INCLUSION IN INDIVIDUAL INSOLVENCY RULESHigh Court1Provision for regulating the practice and procedure of the High Court for the purposes of2Provision conferring rights of audience, in the High Court for the purposes ofNotices, etc.3Provision requiring notice of any proceedings under4Provision with respect to the form, manner of serving, contents and proof of any petition,5Provision specifying the persons to whom any notice underDebt relief orders5AProvision as to the manner in which the official receiver is to carry out his...5BProvision as to the manner in which any requirement that may be imposed by the...5CProvision modifying the application of Part 7A in relation to an individual who has died...Debt relief restrictions orders and undertakings5DProvision about debt relief restrictions orders, interim orders and undertakings, including provision about evidence.Register of debt relief orders and debt relief restrictions orders, etc.5EProvision about the register required to be maintained by Article 208W and the information to...... Voluntary arrangements6Provision ... for the registration of ... voluntary arrangements approved...Official receiver acting on voluntary arrangement6AProvision about the official receiver acting as nominee or supervisor in relation to a voluntary...Interim receiver7Provision as to the manner in which an interim receiver appointed under Article 259 is...Receiver or manager8Provision as to the manner in which the official receiver is to carry out his...Administration of individual insolvency9Provision with respect to the certification of the appointment of any person as trustee of10The following provision with respect to meetings of creditors—11Provision as to the functions, membership and proceedings of a creditors' committee established under Article12Provision as to the manner in which any requirement that may be imposed on a13Provision as to the manner in which any requirement imposed by virtue of Article 283(3)14Provision as to the terms and conditions that may be included in a charge under15Provision as to the debts that may be proved in any bankruptcy, as to the16Provision with respect to the manner of the distribution of a bankrupt's estate, including provision17Provision modifying the application of Parts VIII to X in relation to a debtor orFinancial provisions18Provision as to the amount, or manner of determining the amount, payable to an interim...19Provision with respect to the manner in which money received by the trustee of a...19AProvision enabling the Department to set the rate of interest paid on sums which have...20Provision as to the costs that may be treated as the expenses of a bankruptcy.21Provision as to the costs that may be incurred for any of the purposes of...Information and records22Provision requiring officers of the High Court—23Provision requiring a creditor or a committee established under Article 274 to be supplied (on24Provision as to the manner in which public examinations under Article 263 and proceedings under25Provision imposing requirements with respect to— (a) the preparation and...26Provision requiring the person who is the supervisor of a voluntary arrangement approved under Part27Provision as to the manner in which the trustee of a bankrupt's estate is toBankruptcy restrictions orders and undertakings27AProvision about bankruptcy restrictions orders, interim orders and undertakings, including—General28Provision conferring power on the Department to make regulations with...29Provision conferring a discretion on the High Court.30Provision making non‐compliance with any of the rules a criminal offence.SCHEDULE 7PUNISHMENT OF OFFENCES UNDER THIS ORDERSCHEDULE 8TRANSITIONAL PROVISIONS AND SAVINGSPART ICOMPANY INSOLVENCY AND WINDING UPAdministration orders1(1) Where any right to appoint an administrative receiver of a company is conferred by...Receivers and managers2(1) Parts IV and VII do not apply in relation to any receiver or manager...Winding up already in progress3(1) Subject to the following provisions of this Part, Parts V to VII do not...Statement of affairs4(1) Where a winding up by the High Court has commenced, or is treated as...Provisions relating to liquidator5(1) This paragraph applies as regards the liquidator in the case of a winding up...Saving for power to make rules6Paragraphs 3 to 5 are without prejudice to the power conferred by this Order under...Setting aside of preferences and other transactions7(1) Where a provision in Part V of this Order applies in relation to a...PART IIINDIVIDUAL INSOLVENCYBankruptcy general8(1) Subject to the following provisions of this Part, Parts VIII to X do not...9(1) In relation to any such case as is mentioned in paragraph 8(1) the references...10Transactions entered into before the commencement date have effect on and after that date as...Discharge from old bankruptcy11(1) Where a person— (a) was adjudged bankrupt before the commencement date or is adjudged...Provisions relating to trustee12(1) This paragraph applies as regards the trustee in the case of a person adjudged...Second bankruptcy13(1) Articles 307 and 308 of this Order apply with the following modifications where the...Setting aside of preferences and other transactions14(1) A preference given, assignment made or other transaction entered into before the commencement date...Bankruptcy offences15(1) Where a bankruptcy order is made under this Order on or after the commencement...Power to make rules16(1) The preceding provisions of this Part of this Schedule are without prejudice to the...PART IIIOTHER TRANSITIONAL PROVISIONS AND SAVINGSDeeds of arrangement17Chapter I of Part VIII does not apply in relation...Insolvency practitioners18Where an individual began to act as an insolvency practitioner in relation to any person...Official receiver19Any property vested in the Official Assignee for bankruptcy for Northern Ireland, either alone or...Transitional effect of Articles 367 to 36920(1) A transaction entered into before the commencement date shall not be set aside under...Periods of time21Where any period of time specified in any provision repealed by Article 382 and Schedule...Saving22The provisions of this Schedule shall have effect without prejudice to sections 28 and 29...Interpretation23In this Schedule— “the Bankruptcy Acts” means the Bankruptcy Acts (Northern Ireland) 1857 to 1980...Schedule 9—AmendmentsSchedule 10—RepealsStatutory Instruments1989 No. 2405 (N.I. 19)The Insolvency (Northern Ireland) Order 198919th December 1989