Insolvency Act 1986

436 Expressions used generally. E+W+S

In this Act, except in so far as the context otherwise requires (and subject to Parts VII and XI)—

• [F1 “agricultural charge” has the same meaning as in the M1 Agricultural Credits Act 1928;

• “agricultural receiver” means a receiver appointed under an agricultural charge;]

• “the appointed day” means the day of which this Act comes into force under section 443;

• “associate” has the meaning given by section 435;

• “business” includes a trade or profession;

• “the Companies Act” means the M2 Companies Act 1985;

• “conditional sale agreement” and “hire-purchase agreement” have the same meanings as in the M3 Consumer Credit Act 1974;

• [F1 “corporate member” means an insolvent member which is a company;

• “the court”, in relation to an insolvent partnership, means the court which has jurisdiction to wind up the partnership;]

• [F2 “the EC Regulation” means Council Regulation (EC) No. 1346/2000;]

• [F1 “individual member” means an insolvent member who is an individual;

• “insolvency order” means—

  (a)

  in the case of an insolvent partnership or a corporate member, a winding-up order; and

  (b)

  in the case of an individual member, a bankruptcy order;

• “insolvency petition” means, in the case of a petition presented to the court—

  (a)

  against a corporate member, a petition for its winding up by the court;

  (b)

  against an individual member, a petition for a bankruptcy order to be made against that individual,

  where the petition is presented in conjunction with a petition for the winding up of the partnership by the court as an unregistered company under the Act;

• “insolvency proceedings” means any proceedings under the Act, this Order or the M4 Insolvency Rules 1986

• “insolvent member” means a member of an insolvent partnership, against whom an insolvency petition is being or has been presented;

• “joint bankruptcy petition” means a petition by virtue of article 11 of this Order;

• “joint debt” means a debt of an insolvent partnership in respect of which an order is made by virtue of Part IV or V of this Order;

• “joint estate” means the partnership property of an insolvent partnership in respect of which an order is made by virtue of Part IV or V of this Order;

• “joint expenses” means expenses incurred in the winding up of an insolvent partnership or in the winding up of the business of an insolvent partnership and the administration of its property;

• “limited partner” has the same meaning as in the M5 Limited Partnerships Act 1907;

• “member” means a member of a partnership and any person who is liable as a partner within the meaning of section 14 of the M6 Partnership Act 1890;]

• “modifications” includes additions, alterations and omissions and cognate expressions shall be construed accordingly;

• [F1 “officer”, in relation to an insolvent partnership, means—

  (a)

  a member; or

  (b)

  a person who has management or control of the partnership business;

• “partnership property” has the same meaning as in the Partnership Act 1890;

• “postponed debt” means a debt the payment of which is postponed by or under any provision of the Act or of any other enactment;]

• “property” includes money, goods, things in action, land and every description of property wherever situated and also obligations and every description of interest, whether present or future or vested or contingent, arising out of, or incidental to, property;

• “records” includes computer records and other non-documentary records;

• [F1 “responsible insolvency practitioner” means—

  (a)

  in winding up, the liquidator of an insolvent partnership or corporate member; and

  (b)

  in bankruptcy, the trustee of the estate of an individual member,

  and in either case includes the official receiver when so acting;

• “separate debt” means a debt for which a member of a partnership is liable, other than a joint debt;

• “separate estate” means the property of an insolvent member against whom an insolvency order has been made;

• “separate expenses” means expenses incurred in the winding up of a corporate member, or in the bankruptcy of an individual member; and]

• “subordinate legislation” has the same meaning as in the M7 Interpretation Act 1978; and

• “transaction” includes a gift, agreement or arrangement, and references to entering into a transaction shall be construed accordingly.

• [F1 “trustee of the partnership” means a person authorised by order made by virtue of article 11 of this Order to wind up the business of an insolvent partnership and to administer its property.]

Textual Amendments

F1 S. 436(1): definitions added (1.12.1994) by S.I. 1994/2421, art. 2(1)(2)

F2 Words in s. 436 inserted (3.5.2002) by S.I. 2002/1037, reg. 4

Modifications etc. (not altering text)

C1 S. 436 applied with modifications by S.I. 1986/1999, art. 3, Sch. 1 Pt. II

C2 S. 436 applied (with modifications) (6.4.2001) by S.S.I. 2001/128, reg. 4(1), Sch. 2

C3 S. 436 modified (6.4.2001) by S.S.I. 2001/128, reg. 4(2), Sch. 3

Marginal Citations

M1 1928 c.43.

M2 1985 c. 6.

M3 1974 c. 39.

M4 S.I. 1986/1925, amended by S.I. 1987/1919, S.I. 1989/397, S.I. 1991/495 and S.I. 1993/602.

M5 1907 c.24.

M6 1890 c.39.

M7 1978 c. 30.