Terrorism Act 2000

Insolvency practitioners in the Islands and designated countries U.K.

52 (1) An order may be made under this paragraph to secure that an Islands or external insolvency practitioner has the same rights under this Part of this Schedule in relation to— U.K.

(a) property situated in England and Wales,

(b) property situated in Scotland, or

(c) property situated in Northern Ireland,

as he would have if he were an insolvency practitioner in that part of the United Kingdom.

(2) The Secretary of State may make an order—

(a) under sub-paragraph (1)(a) with the concurrence of the Lord Chancellor;

(b) under sub-paragraph (1)(b).

(3) An order under sub-paragraph (1)(c)—

(a) may be made by the Department of Enterprise, Trade and Investment in Northern Ireland,

(b) shall be a statutory rule for the purposes of the M1 Statutory Rules (Northern Ireland) Order 1979, and

(c) shall be subject to negative resolution within the meaning of section 41(6) of the M2 Interpretation (Northern Ireland) Act 1954.

(4) An order under this paragraph may, in particular, include—

(a) provision which modifies the rights under this Part of this Schedule which are to be conferred under the order;

(b) provision as to the manner in which the rights conferred under the order are to be exercised;

(c) provision as to the conditions subject to which those rights are to be exercised, including the obtaining of leave from a court;

(d) provision for empowering a court granting such leave to impose such conditions as it thinks fit.

(5) An order under this paragraph may make different provision for different purposes.

(6) In this paragraph—

• “Islands or external insolvency practitioner” means a person exercising under the insolvency law of a relevant country or territory functions corresponding to those exercised by insolvency practitioners under the insolvency law of any part of the United Kingdom,

• “insolvency law” has the same meaning as in section 426(10) of the M3 Insolvency Act 1986, except that the reference to a relevant country or territory shall be construed in accordance with this paragraph, and

• “relevant country or territory” means—

  (a)

  any of the Channel Islands,

  (b)

  the Isle of Man, or

  (c)

  any country or territory designated as mentioned in paragraph 14, 28 or 44.

Marginal Citations

M1 S.I. 1979/1573 (N.I. 12).

M2 1954 c. 33 (N.I.).

M3 1986 c. 45.