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Insolvency Act 1986
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Changes over time for: Section 406
Alternative versions:
- 01/02/1991- Amendment
- 02/04/2001- Amendment
- 01/12/2020
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Insolvency Act 1986, Section 406 is up to date with all changes known to be in force on or before 01 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.
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406[F1Interest 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) [F2or 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.
Textual Amendments
F1S. 406: sidenote substituted (2.4.2001) by 2000 c. 39, s. 13(2)(b); S.I. 2001/766, art. 2 (subject to transitional provisions in art. 3)
F2Words in s. 406 substituted (2.4.2001) by 2000 c. 39, s. 13(2)(a); S.I. 2001/766, art. 2 (subject to transitional provisions in art. 3)
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