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The Insolvency Rules 1986

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Changes over time for: Section 4.91

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Debt in foreign currencyE+W

4.91.—(1) For the purpose of proving a debt incurred or payable in a currency other than sterling, the amount of the debt shall be converted into sterling at the official exchange rate prevailing on the date when the company went into liquidation.

(2) “The official exchange rate” is the middle market rate at the Bank of England, as published for the date in question. In the absence of any such published rate, it is such rate as the court determines.

Commencement Information

I1Rule 4.91 in force at 29.12.1986, see rule 0.1

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