- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
(1)Section 218 of the [1986 c. 45.] Insolvency Act 1986 (prosecution of delinquent officers and members of company) is amended as follows.
(2)In subsection (1), for “to the prosecuting authority” there is substituted—
“(a)in the case of a winding up in England and Wales, to the Secretary of State, and
(b)in the case of a winding up in Scotland, to the Lord Advocate”.
(3)Subsection (2) is omitted.
(4)In subsection (4)—
(a)for the words from the beginning of paragraph (a) to “that authority” in paragraph (b) there is substituted “forthwith report the matter—
(a)in the case of a winding up in England and Wales, to the Secretary of State, and
(b)in the case of a winding up in Scotland, to the Lord Advocate,
and shall furnish to the Secretary of State or (as the case may be) the Lord Advocate”,
(b)for “the authority” there is substituted “the Secretary of State or (as the case may be) the Lord Advocate”.
(5)For subsection (5) there is substituted—
“(5)Where a report is made to the Secretary of State under subsection (4) he may, for the purpose of investigating the matter reported to him and such other matters relating to the affairs of the company as appear to him to require investigation, exercise any of the powers which are exercisable by inspectors appointed under section 431 or 432 of the Companies Act to investigate a company’s affairs.”
(6)In subsection (6)(b), “to the prosecuting authority” is omitted.
(7)In section 219 of that Act (obligations arising under section 218)—
(a)in subsection (1), for “under section 218(5)” there is substituted “in consequence of a report made to him under section 218(4)” and for “that subsection” there is substituted “section 218(5)”,
(b)in subsection (3), for “the prosecuting authority” and “that authority” there is substituted “the Director of Public Prosecutions, the Lord Advocate”,
(c)in subsection (4), for “prosecuting authority” there is substituted “Director of Public Prosecutions, the Lord Advocate”.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: