Prospective
3(1)Section 429 of the Insolvency Act 1986 (disabilities on revocation of administration order against an individual) is amended as follows.E+W
(2)For subsections (1) and (2) substitute—
“(1)This section applies if [F1the county court] revokes an administration order made in respect of an individual (“the debtor”) on one of the relevant grounds.
(2)The court may, at the time it revokes the administration order, make an order directing that this section and section 12 of the Company Directors Disqualification Act 1986 shall apply to the debtor for such period, not exceeding one year, as may be specified in the order.
(2A)Each of the following is a relevant ground—
(a)the debtor had failed to make two payments (whether consecutive or not) required by the order;
(b)at the time the order was made—
(i)the total amount of the debtor's qualifying debts was more than the prescribed maximum for the purposes of Part 6 of the 1984 Act, but
(ii)because of information provided, or not provided, by the debtor, that amount was thought to be less than, or the same as, the prescribed maximum.”
(3)In subsection (3) for “a person” in the first place substitute “ an individual ”.
(4)In subsection (4) for “a person” substitute “ an individual ”.
(5)In subsection (5) for “person” substitute “ individual ”.
Textual Amendments
F1Words in Sch. 16 para. 3(2) substituted (22.4.2014) by Crime and Courts Act 2013 (c. 22), s. 61(3), Sch. 9 para. 52; S.I. 2014/954, art. 2(c) (with art. 3) (with transitional provisions and savings in S.I. 2014/956, arts. 3-11)
4(1)Section 440 (extent: Scotland) is amended as follows.E+W
(2)In subsection (2)(c) (provisions in the third Group of Parts that do not extend to Scotland) for “section 429(1) and (2)” substitute “ section 429(1) to (2A) ”.