Enterprise Act 2002

264 Individual voluntary arrangement

(1) Schedule 22 (which makes provision about individual voluntary arrangements) shall have effect.

(2) The Secretary of State may by order amend the Insolvency Act 1986 so as to extend the provisions of sections 263B to 263G (which are inserted by Schedule 22 and provide a fast-track procedure for making an individual voluntary arrangement) to some or all cases other than those specified in section 263A as inserted by Schedule 22.

(3) An order under subsection (2)—

(a) must be made by statutory instrument, and

(b) may not be made unless a draft has been laid before and approved by each House of Parliament.

(4) An order under subsection (2) may make—

(a) consequential provision (which may include provision amending the Insolvency Act 1986 or another enactment);

(b) transitional provision.