- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
(This note is not part of the Rules)
These Rules amend the Insolvency (Scotland) Rules 1986 (S.I. 1986/1915).
As a result of the changes made to the law on administration by the Enterprise Act 2002 (c. 40) a company can move between administration and liquidation. The amendments in Rules 3 and 4 enable creditors to make their claim as at the date of the administration. The amendments provide that the relevant date is the date of the commencement of the administration.
Rule 5 inserts a new Rule 7.36 into the Insolvency (Scotland) Rules 1986. This rule allows a creditor or, where a company is involved, a director or contributor to request details of time spent on a liquidation or receivership from an insolvency practitioner. These details are the number of hours spent on the case, the grades and wages of the staff involved and the hours spent on the case by each grade of staff.
Rule 6 provides that the report of a final meeting in a Creditors' Voluntary Winding Up is to be reported to the Accountant in Bankruptcy instead of the registrar of companies.
Rule 7 provides that these changes only have effect as regards companies which have gone into liquidation on or after the commencement date.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Executive Note sets out a brief statement of the purpose of a Scottish Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Scottish Statutory Instrument accessible to readers who are not legally qualified and accompany any Scottish Statutory Instrument or Draft Scottish Statutory Instrument laid before the Scottish Parliament from July 2005 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: