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Changes over time for: Section 406


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 01/12/2020.
Changes to legislation:
Insolvency Act 1986, Section 406 is up to date with all changes known to be in force on or before 06 March 2025. 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.

Changes to Legislation
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406[Interest on money received by liquidators or trustees in bankruptcy and invested.]E+W
Where under rules made by virtue of paragraph 16 of Schedule 8 to this Act(investment of money received by company liquidators) [or paragraph 21 of Schedule 9 to this Act (investment of money received by trustee in bankruptcy) a company or a bankrupt’s estate] has become entitled to any sum by way of interest, the Secretary of State shall certify that sum and the amount of tax payable on it to the National Debt Commissioners; and the Commissioners shall pay, out of the Investment Account—
(a)into the Insolvency Services Account, the sum so certified less the amount of tax so certified, and
(b)to the Commissioners of Inland Revenue, the amount of tax so certified.
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