C2C8C3C4C5C6C7 Part III Receivership
Pts. 1-4, 6, 7 applied to limited liability partnerships (with modifications) (E.W.S.) (6.4.2001) by S.I. 2001/1090, reg. 5, Schs. 3, 4 (as amended (4.3.2004) by S.I. 2004/355, art. 10 and (1.10.2005) by S.I. 2005/1989, reg. 3, Sch. 2 (with reg. 4) and (8.12.2017) by The Insolvency (Miscellaneous Amendments) Regulations 2017 (S.I. 2017/1119), reg. 1(1), Sch. 1 Pts. 2, 3)
Pt. 3 (ss. 28-72) extended by S.I. 1989/638, regs. 19(1), 21
First Group of Parts (Pts. 1-7) applied (with modifications) (15.12.2006) by The Banks (Former Authorised Institutions) (Insolvency) Order 2006 (S.I. 2006/3107), art. 3, Sch. (as amended (1.4.2013) by S.I. 2013/472, art. 1(1), Sch. 2 para. 117; and (13.3.2018) by S.I. 2018/208, regs. 1(3), 11
Pt. 3: power to apply or incorporate conferred (6.4.2001) by 2000 c. 12, s. 14; S.I. 2000/3316, art. 2
Pts. 1-4 applied (with modifications) in part (2.1.2013) by The Charitable Incorporated Organisations (Insolvency and Dissolution) Regulations 2012 (S.I. 2012/3013), reg. 1, Sch. paras. 1(2)(a)(3)-(7)
Pt. 3 applied (with modifications) by Building Societies Act 1986 (1986 c. 53), Sch. 15A Pt. 2 (as amended (28.6.2016) by S.I. 2016/679, art. 1(1)(4), 4(2)(3); and (13.3.2018) by S.I. 2018/208, regs. 1(3), 2(3))
C1 Chapter I Receivers and Managers (England and Wales)
Pt. III Chapter 1 (ss. 28-49) applied (with modifications) (1.12.1997) by 1986 c. 53, Sch. 15A (as inserted by 1997 c. 32, s. 39(2), Sch. 6 para. 1(2)(a); S.I. 1997/2668, art. 2, Sch. Pt. I(i))
Preliminary and general provisions
28F1 Extent of this Chapter.
1
In this Chapter “company” means a company registered under the Companies Act 2006 in England and Wales or Scotland.
2
This Chapter does not apply to receivers appointed under Chapter 2 of this Part (Scotland).
29 Definitions.
1
It is hereby declared that, except where the context otherwise requires—
a
any reference in F2. . . this Act to a receiver or manager of the property of a company, or to a receiver of it, includes a receiver or manager, or (as the case may be) a receiver of part only of that property and a receiver only of the income arising from the property or from part of it; and
b
any reference in F2. . . this Act to the appointment of a receiver or manager under powers contained in an instrument includes an appointment made under powers which, by virtue of any enactment, are implied in and have effect as if contained in an instrument.
2
In this Chapter “administrative receiver” means—
a
a receiver or manager of the whole (or substantially the whole) of a company’s property appointed by or on behalf of the holders of any debentures of the company secured by a charge which, as created, was a floating charge, or by such a charge and one or more other securities; or
b
a person who would be such a receiver or manager but for the appointment of some other person as the receiver of part of the company’s property.
30 Disqualification of body corporate from acting as receiver.
A body corporate is not qualified for appointment as receiver of the property of a company, and any body corporate which acts as such a receiver is liable to a fine.
F431 Disqualification of bankrupt F3 or person in respect of whom a debt relief order is made
1
A person commits an offence if he acts as receiver or manager of the property of a company on behalf of debenture holders while—
a
he is an undischarged bankrupt,
F5aa
a moratorium period under a debt relief order applies in relation to him, or
b
a bankruptcy restrictions order F6or a debt relief restrictions order is in force in respect of him.
2
A person guilty of an offence under subsection (1) shall be liable to imprisonment, a fine or both.
3
This section does not apply to a receiver or manager acting under an appointment made by the court.
32 Power for court to appoint official receiver.
Where application is made to the court to appoint a receiver on behalf of the debenture holders or other creditors of a company which is being wound up by the court, the official receiver may be appointed.
Pts. 1-7 (ss. 1-251) applied (with modifications) by S.I. 1989/1276, arts. 2, 3
Pt. 3 applied (with modifications) (4.4.2006) by The Cross-Border Insolvency Regulations 2006 (S.I. 2006/1030), reg. 3