415 Fees orders (individual insolvency proceedings in England and Wales).
(1) There shall be paid in respect of—
(za) the costs of persons acting as approved intermediaries under Part 7A,
(a) proceedings under Parts 7A to 11 of this Act, ...
(b) the performance by the official receiver or the Secretary of State of functions under those Parts, and
(c) the performance by an adjudicator of functions under Part 9 of this Act,
such fees as the Lord Chancellor may with the sanction of the Treasury by order direct.
(1A) An order under subsection (1) may make different provision for different purposes, including by reference to the manner or form in which proceedings are commenced.
(2) The Treasury may by order direct by whom and in what manner the fees are to be collected and accounted for.
(3) The Lord Chancellor may, with the sanction of the Treasury, by order provide for sums to be deposited, by such persons, in such manner and in such circumstances as may be specified in the order, by way of security for—
(a) fees payable by virtue of this section, and
(b) fees payable to any person who has prepared an insolvency practitioner’s report under section 274 in Chapter I of Part IX.
(4) An order under this section may contain such incidental, supplemental and transitional provisions as may appear to the Lord Chancellor or, as the case may be, the Treasury, necessary or expedient.
(5) An order under this section shall be made by statutory instrument and, after being made, shall be laid before each House of Parliament.
(6) Fees payable by virtue of this section shall be paid into the Consolidated Fund.
(7) Nothing in this section prejudices any power to make rules of court.
(A1) The Secretary of State—
(a) may by order require a person or body to pay a fee in connection with the grant or maintenance of a designation of that person or body as a competent authority under section 251U, and
(b) may refuse to grant, or may withdraw, any such designation where a fee is not paid.
(1) The Secretary of State—
(a) may by order require a body to pay a fee in connection with the grant or maintenance of recognition of the body under section 391, and
(b) may refuse recognition, or revoke an order of recognition under section 391(1) or (2) by a further order, where a fee is not paid.
(1A) Fees under subsection (1) may vary according to whether the body is recognised under section 391(1) (body providing full and partial authorisation) or under section 391(2) (body providing partial authorisation).
(1B) In setting under subsection (1) the amount of a fee in connection with maintenance of recognition, the matters to which the Secretary of State may have regard include, in particular, the costs of the Secretary of State in connection with any functions under sections 391D, 391E, 391J, 391K and 391N.
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) The Secretary of State may by order require the payment of fees in respect of—
(a) the operation of the Insolvency Services Account;
(b) payments into and out of that Account.
(4) The following provisions of section 414 apply to fees under this section as they apply to fees under that section—
(a) subsection (3) (manner of payment),
(b) subsection (5) (additional provision),
(c) subsection (6) (statutory instrument),
(d) subsection (7) (payment into Consolidated Fund), and
(e) subsection (9) (saving for rules of court).
(5) Section 391M applies for the purposes of an order under subsection (1)(b) as it applies for the purposes of a revocation order made under section 391L.
(1) The Secretary of State may by regulations increase or reduce any of the money sums for the time being specified in the following provisions of Part A1—
(a) section A25(1) (maximum amount of credit which company may obtain without disclosing moratorium);
(b) section A28(2) (maximum amount for certain payments without obtaining monitor consent etc);
(c) section A46(2) (minimum value of company property concealed or fraudulently removed, affecting criminal liability of company’s officer).
(2) Regulations under this section may contain such transitional provisions as may appear to the Secretary of State necessary or expedient.
(3) Regulations under this section are to be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.
(1) The Secretary of State may by order in a statutory instrument increase or reduce any of the money sums for the time being specified in the following provisions in the first Group of Parts—
section 117(2) (amount of company’s share capital determining whether county court has jurisdiction to wind it up);
section 120(3) (the equivalent as respects sheriff court jurisdiction in Scotland);
section 123(1)(a) (minimum debt for service of demand on company by unpaid creditor);
section 184(3) (minimum value of judgment, affecting sheriff’s duties on levying execution);
section 206(1)(a) and (b) (minimum value of company property concealed or fraudulently removed, affecting criminal liability of company’s officer).
(2) An order under this section may contain such transitional provisions as may appear to the Secretary of State necessary or expedient.
(3) No order under this section increasing or reducing any of the money sums for the time being specified in section 117(2), 120(3) or 123(1)(a) shall be made unless a draft of the order has been laid before and approved by a resolution of each House of Parliament.
(4) A statutory instrument containing an order under this section, other than an order to which subsection (3) applies, is subject to annulment in pursuance of a resolution of either House of Parliament.
The Secretary of State may by regulations in a statutory instrument increase or reduce the money sum for the time being specified in section 222(1) (minimum debt for service of demand on unregistered company by unpaid creditor); but such regulations shall not be made unless a draft of the statutory instrument containing them has been approved by resolution of each House of Parliament.
(1) The Secretary of State may by order prescribe amounts for the purposes of the following provisions in the second Group of Parts—
section 251S(4) (maximum amount of credit which a person in respect of whom a debt relief order is made may obtain without disclosure of his status);
section 273 (minimum value of debtor’s estate determining whether immediate bankruptcy order should be made; small bankruptcies level);
section 313A (value of property below which application for sale, possession or charge to be dismissed);
section 346(3) (minimum amount of judgment, determining whether amount recovered on sale of debtor’s goods is to be treated as part of his estate in bankruptcy);
section 354(1) and (2) (minimum amount of concealed debt, or value or property concealed or removed, determining criminal liability under the section);
section 358 (minimum value of property taken by a bankrupt out of England and Wales, determining his criminal liability);
section 360(1) (maximum amount of credit which bankrupt may obtain without disclosure of his status);
section 361(2) (exemption of bankrupt from criminal liability for failure to keep proper accounts, if unsecured debts not more than the prescribed minimum);
section 364(2)(d) (minimum value of goods removed by the bankrupt, determining his liability to arrest);
paragraphs 6 to 8 of Schedule 4ZA (maximum amount of a person's debts, monthly surplus income and property for purposes of obtaining a debt relief order);
and references in the second Group of Parts to the amount prescribed for the purposes of any of those provisions, and references in those provisions to the prescribed amount, are to be construed accordingly.
(2) An order under this section may contain such transitional provisions as may appear to the Secretary of State necessary or expedient.
(3) An order under this section shall be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.
(1) The Secretary of State may make regulations for the purpose of giving effect to Part XIII of this Act; and “prescribed” in that Part means prescribed by regulations made by the Secretary of State.
(2) Without prejudice to the generality of subsection (1) or to any provision of that Part by virtue of which regulations may be made with respect to any matter, regulations under this section may contain—
(a) provision as to the matters to be taken into account in determining whether a person is a fit and proper person to act as an insolvency practitioner;
(b) provision prohibiting a person from so acting in prescribed cases, being cases in which a conflict of interest will or may arise;
(c) provision imposing requirments with respect to—
(i) the preparation and keeping by a person who acts as an insolvency practitioner of prescribed books, accounts and other records, and
(ii) the production of those books, accounts and records to prescribed persons;
(d) provision conferring power on prescribed persons—
(i) to require any person who acts or has acted as an insolvency practitioner to answer any inquiry in relation to a case in which he is so acting or has so acted, and
(ii) to apply to a court to examine such a person or any other person on oath concerning such a case;
(e) provision making non-co(mpliance with any of the regulations a criminal offence; and
(f) such incidental, supplemental and transitional provisions as may appear to the Secretary of State necessary or expedient.
(3) Any power conferred by Part XIII of this Part to make regulations, rules or orders is exercisable by statutory instrument subject to annulment by resolution of either House of Parliament.
(4) Any rule or regulation under Part XIII or this Part may make different provision with respect to different cases or descriptions of cases, including different provision for different areas.
(5) In making regulations under this section, the Secretary of State must have regard to the regulatory objectives (as defined by section 391C(3)).
(1) The Lord Chancellor may, by order made with the concurrence of the Secretary of State and the Lord Chief Justice, provide that such provisions of this Act as may be specified in the order shall apply in relation to insolvent partnerships with such modifications as may be so specified.
(1A) An order under this section may make provision in relation to the EU Regulation .
(1B) But provision made by virtue of this section in relation to the EU Regulation may not create a new relevant offence.
(2) An order under this section may make different provision for different cases and may contain such incidental, supplemental and transitional provisions as may appear to the Lord Chancellor and the Lord Chief Justice necessary or expedient.
(3) An order under this section shall be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.
(4) The Lord Chief Justice may nominate a judicial office holder (as defined in section 109(4) of the Constitutional Reform Act 2005) to exercise his functions under this section.
(1) The Lord Chancellor may, by order made with the concurrence of the Secretary of State and the Lord Chief Justice, provide that such provisions of this Act as may be specified in the order shall apply in relation to the administration of the insolvent estates of deceased persons with such modifications as may be so specified.
(1A) An order under this section may make provision in relation to the EU Regulation .
(1B) But provision made by virtue of this section in relation to the EU Regulation may not create a new relevant offence.
(2) An order under this section may make different provision for different cases and may contain such incidental, supplemental and transitional provisions as may appear to the Lord Chancellor and the Lord Chief Justice necessary or expedient.
(3) An order under this section shall be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.
(4) For the purposes of this section the estate of a deceased person is insolvent if, when realised, it will be insufficient to meet in full all the debts and other liabilities to which it is subject.
(5) The Lord Chief Justice may nominate a judicial office holder (as defined in section 109(4) of the Constitutional Reform Act 2005) to exercise his functions under this section.
(1) This section applies where—
(a) an insolvency administration order has been made in respect of the insolvent estate of a deceased person,
(b) the petition for the order was presented after the commencement of this section and within the period of five years beginning with the day on which he died, and
(c) immediately before his death he was beneficially entitled to an interest in any property as joint tenant.
(2) For the purpose of securing that debts and other liabilities to which the estate is subject are met, the court may, on an application by the trustee appointed pursuant to the insolvency administration order, make an order under this section requiring the survivor to pay to the trustee an amount not exceeding the value lost to the estate.
(3) In determining whether to make an order under this section, and the terms of such an order, the court must have regard to all the circumstances of the case, including the interests of the deceased’s creditors and of the survivor; but, unless the circumstances are exceptional, the court must assume that the interests of the deceased’s creditors outweigh all other considerations.
(4) The order may be made on such terms and conditions as the court thinks fit.
(5) Any sums required to be paid to the trustee in accordance with an order under this section shall be comprised in the estate.
(6) The modifications of this Act which may be made by an order under section 421 include any modifications which are necessary or expedient in consequence of this section.
(7) In this section, “survivor” means the person who, immediately before the death, was beneficially entitled as joint tenant with the deceased or, if the person who was so entitled dies after the making of the insolvency administration order, his personal representatives.
(8) If there is more than one survivor—
(a) an order under this section may be made against all or any of them, but
(b) no survivor shall be required to pay more than so much of the value lost to the estate as is properly attributable to him.
(9) In this section—
“insolvency administration order” has the same meaning as in any order under section 421 having effect for the time being,
“value lost to the estate” means the amount which, if paid to the trustee, would in the court’s opinion restore the position to what it would have been if the deceased had been made bankrupt immediately before his death.
(1) The Secretary of State may by order made with the concurrence of the Treasury and after consultation with the Financial Conduct Authority and the Prudential Regulation Authority provide that specified provisions in the first Group of Parts shall apply with specified modifications in relation to any person who—
(a) has a liability in respect of a deposit which he accepted in accordance with the Banking Act 1979 (c. 37) or 1987 (c. 22), but
(b) does not have permission under Part 4A of the Financial Services and Markets Act 2000 (c. 8) (regulated activities) to accept deposits.
(1A) Subsection (1)(b) shall be construed in accordance with—
(a) section 22 of the Financial Services and Markets Act 2000 (classes of regulated activity and categories of investment),
(b) any relevant order under that section, and
(c) Schedule 2 to that Act (regulated activities).
(1A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2) An order under this section may make different provision for different cases and may contain such incidental, supplemental and transitional provisions as may appear to the Secretary of State necessary or expedient.
(3) An order under this section shall be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.
In this Part “relevant offence” means a criminal offence punishable with imprisonment for more than two years or punishable on summary conviction with imprisonment for more than three months or with a fine of more than level 5 on the standard scale (if not calculated on a daily basis) or with a fine of more than £100 a day.
(1) This section relates to transactions entered into at an undervalue; and a person enters into such a transaction with another person if—
(a) he makes a gift to the other person or he otherwise enters into a transaction with the other on terms that provide for him to receive no consideration;
(b) he enters into a transaction with the other in consideration of marriage or the formation of a civil partnership; or
(c) he enters into a transaction with the other for a consideration the value of which, in money or money’s worth, is significantly less than the value, in money or money’s worth, of the consideration provided by himself.
(2) Where a person has entered into such a transaction, the court may, if satisfied under the next subsection, make such order as it thinks fit for—
(a) restoring the position to what it would have been if the transaction had not been entered into, and
(b) protecting the interests of persons who are victims of the transaction.
(3) In the case of a person entering into such a transaction, an order shall only be made if the court is satisfied that it was entered into by him for the purpose—
(a) of putting assets beyond the reach of a person who is making, or may at some time make, a claim against him, or
(b) of otherwise prejudicing the interests of such a person in relation to the claim which he is making or may make.
(4) In this section “the court” means the High Court or—
(a) if the person entering into the transaction is an individual, any other court which would have jurisdiction in relation to a bankruptcy petition relating to him;
(b) if that person is a body capable of being wound up under Part IV or V of this Act, any other court having jurisdiction to wind it up.
(5) In relation to a transaction at an undervalue, references here and below to a victim of the transaction are to a person who is, or is capable of being, prejudiced by it; and in the following two sections the person entering into the transaction is referred to as “the debtor”.
424 Those who may apply for an order under s. 423.
(1) An application for an order under section 423 shall not be made in relation to a transaction except—
(a) in a case where the debtor has been made bankrupt or is a body corporate which is being wound up or is in administration, by the official receiver, by the trustee of the bankrupt’s estate or the liquidator or adminstrator of the body corporate or (with the leave of the court) by a victim of the transaction;
(b) in a case where a victim of the transaction is bound by a voluntary arrangement approved under Part I or Part VIII of this Act, by the supervisor of the voluntary arrangement or by any person who (whether or not so bound) is such a victim; or
(c) in any other case, by a victim of the transaction.
(2) An application made under any of the paragraphs of subsection (1) is to be treated as made on behalf of every victim of the transaction.
425 Provision which may be made by order under s. 423.
(1) Without prejudice to the generality of section 423, an order made under that section with respect to a transaction may (subject as follows)—
(a) require any property transferred as part of the transaction to be vested in any person, either absolutely or for the benefit of all the persons on whose behalf the application for the order is treated as made;
(b) require any property to be so vested if it represents, in any person’s hands, the application either of the proceeds of sale of property so transferred or of the money so transferred;
(c) release or discharge (in whole or in part) any security given by the debtor;
(d) require any person to pay to any other person in respect of benefits received from the debtor such sums as the court may direct;
(e) provide for any surety or guarantor whose obligations to any person were released or discharged (in whole or in part) under the transaction to be under such new or revived obligations as the court thinks appropriate;
(f) provide for security to be provided for the discharge of any obligation imposed by or arising under the order, for such an obligation to be charged on any property and for such security or charge to have the same priority as a security or charge released or discharged (in whole or in part) under the transaction.
(2) An order under section 423 may affect the property of, or impose any obligation on, any person whether or not he is the person with whom the debtor entered into the transaction; but such an order—
(a) shall not prejudice any interest in property which was acquired from a person other than the debtor and was acquired in good faith, for value and without notice of the relevant circumstances, or prejudice any interest deriving from such an interest, and
(b) shall not require a person who received a benefit from the transaction in good faith, for value and without notice of the relevant circumstances to pay any sum unless he was a party to the transaction.
(3) For the purposes of this section the relevant circumstances in relation to a transaction are the circumstances by virtue of which an order under section 423 may be made in respect of the transaction.
(4) In this section “security” means any mortgage, charge, lien or other security.
426 Co-operation between courts exercising jurisdiction in relation to insolvency.
(1) An order made by a court in any part of the United Kingdom in the exercise of jurisdiction in relation to insolvency law shall be enforced in any other part of the United Kingdom as if it were made by a court exercising the corresponding jurisdiction in that other part.
(2) However, without prejudice to the following provisions of this section, nothing in subsection (1) requires a court in any part of the United Kingdom to enforce, in relation to property situated in that part, any order made by a court in any other part of the United Kingdom.
(3) The Secretary of State, with the concurrence in relation to property situated in England and Wales of the Lord Chancellor, may by order make provision for securing that a trustee or assignee under the insolvency law of any part of the United Kingdom has, with such modifications as may be specified in the order, the same rights in relation to any property situated in another part of the United Kingdom as he would have in the corresponding circumstances if he were a trustee or assignee under the insolvency law of that other part.
(4) The courts having jurisdiction in relation to insolvency law in any part of the United Kingdom shall assist the courts having the corresponding jurisdiction in any other part of the United Kingdom or any relevant country or territory.
(5) For the purposes of subsection (4) a request made to a court in any part of the United Kingdom by a court in any other part of the United Kingdom or in a relevant country or territory is authority for the court to which the request is made to apply, in relation to any matters specified in the request, the insolvency law which is applicable by either court in relation to comparable matters falling within its jurisdiction.
In exercising its descretion under this subsection, a court shall have regard in particular to the rules of private international law.
(6) Where a person who is a trustee or assignee under the insolvency law of any part of the United Kingdom claims property situated in any other part of the United Kingdom (whether by virtue of an order under subsection (3) or otherwise), the submission of that claim to the court exercising jurisdiction in relation to insolvency law in that other part shall be treated in the same manner as a request made by a court for the purpose of subsection (4).
(7) Section 38 of the Criminal Law Act 1977 (execution of warrant of arrest throughout the United Kingdom) applies to a warrant which, in exercise of any jurisdiction in relation to insolvency law, is issued in any part of the United Kingdom for the arrest of a person as it applies to a warrant issued in that part of the United Kingdom for the arrest of a person charged with an offence.
(8) Without prejudice to any power to make rules of court, any power to make provision by subordinate legislation for the purpose of giving effect in relation to companies or individuals to the insolvency law of any part of the United Kingdom includes power to make provision for the purpose of giving effect in that part to any provision made by or under the preceding provisions of this section.
(9) An order under subsection (3) shall be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.
(10) In this section “insolvency law” means—
(a) in relation to England and Wales, provision extending to England and Wales and made by or under this Act or sections 1A 6 to 10, 12 to 15, 19(c) and 20 (with Schedule 1) of the Company Directors Disqualification Act 1986 and sections 1 to 17 of that Act as they apply for the purposes of those provisions of that Act;
(b) in relation to Scotland, provision extending to Scotland and made by or under this Act, sections 1A 6 to 10, 12 to 15, 19(c) and 20 (with Schedule 1) of the Company Directors Disqualification Act 1986 and sections 1 to 17 of that Act as they apply for the purposes of those provisions of that Act, Part XVIII of the Companies Act or the Bankruptcy (Scotland) Act 2016;
(c) in relation to Northern Ireland, provision made by or under the Insolvency (Northern Ireland) Order 1989or the Company Directors Disqualification (Northern Ireland) Order 2002;
(d) in relation to any relevant country or territory, so much of the law of that country or territory as corresponds to provisions falling within any of the foregoing paragraphs;
and references in this subsection to any enactment include, in relation to any time before the coming into force of that enactment the corresponding enactment in force at that time.
(11) In this section “relevant country or territory” means—
(a) any of the Channel Islands or the Isle of Man, or
(b) any country or territory designated for the purposes of this section by the Secretary of State by order made by statutory instrument.
(12) In the application of this section to Northern Ireland—
(a) for any reference to the Secretary of State there is substituted a reference to the Department of Economic Development in Northern Ireland;
(b) in subsection (3) for the words “another part of the United Kingdom” and the words “that other part” there is substituted the words “Northern Ireland”;
(c) for subsection (9) there is substituted the following subsection—
(9) An order made under subsection (3) by the Department of Economic Development in Northern Ireland shall be a statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 and shall be subject to negative resolution within the meaning of section 41(6) of the Interpretation Act (Northern Ireland) 1954.
.
(13) Section 129 of the Banking Act 2009 provides for provisions of that Act about bank insolvency to be “insolvency law” for the purposes of this section.
(14) Section 165 of the Banking Act 2009 provides for provisions of that Act about bank administration to be “insolvency law” for the purposes of this section.
426A Disqualification from Parliament (England and Wales and Northern Ireland)
(1) A person in respect of whom a bankruptcy restrictions order or a debt relief restrictions order has effect shall be disqualified—
(a) from membership of the House of Commons,
(b) from sitting or voting in the House of Lords, and
(c) from sitting or voting in a committee of the House of Lords or a joint committee of both Houses.
(2) If a member of the House of Commons becomes disqualified under this section, his seat shall be vacated.
(3) If a person who is disqualified under this section is returned as a member of the House of Commons, his return shall be void.
(4) No writ of summons shall be issued to a member of the House of Lords who is disqualified under this section.
(5) If a court makes a bankruptcy restrictions order or interim order , or a debt relief restrictions order or an interim debt relief restrictions order, in respect of a member of the House of Commons or the House of Lords the court shall notify the Speaker of that House.
(6) If the Secretary of State accepts a bankruptcy restrictions undertaking or a debt relief restrictions undertaking made by a member of the House of Commons or the House of Lords, the Secretary of State shall notify the Speaker of that House.
(7) If the Department of Enterprise, Trade and Investment for Northern Ireland accepts a bankruptcy restrictions undertaking made by a member of the House of Commons or the House of Lords under Schedule 2A to the Insolvency (Northern Ireland) Order 1989, the Department shall notify the Speaker of that House.
(8) In this section a reference to a bankruptcy restrictions order or an interim order includes a reference to a bankruptcy restrictions order or an interim order made under Schedule 2A to the Insolvency (Northern Ireland) Order 1989.
(1) If a court in England and Wales makes a bankruptcy restrictions order or interim order in respect of a member of the Scottish Parliament, the Northern Ireland Assembly or the National Assembly for Wales, or makes a debt relief restrictions order or interim debt relief restrictions order in respect of such a member, the court shall notify the presiding officer of that body.
(1A) If the High Court in Northern Ireland makes a bankruptcy restrictions order or interim order under Schedule 2A to the Insolvency (Northern Ireland) Order 1989 in respect of a member of the Scottish Parliament or the National Assembly for Wales, the Court shall notify the presiding officer of that body.
(2) If the Secretary of State accepts a bankruptcy restrictions undertaking or a debt relief restrictions undertaking made by a member of the Scottish Parliament, the Northern Ireland Assembly or the National Assembly for Wales, the Secretary of State shall notify the presiding officer of that body.
(3) If the Department of Enterprise, Trade and Investment for Northern Ireland accepts a bankruptcy restrictions undertaking made by a member of the Scottish Parliament or the National Assembly for Wales under Schedule 2A to the Insolvency (Northern Ireland) Order 1989, the Department shall notify the presiding officer of that body.
(1) An enactment about insolvency applies in relation to a member of the House of Commons or the House of Lords irrespective of any Parliamentary privilege.
(2) In this section “enactment” includes a provision made by or under—
(a) an Act of the Scottish Parliament, or
(b) Northern Ireland legislation.
427 Disqualification from Parliament (Scotland ...)
(1) Where ... a court in Scotland awards sequestration of an individual’s estate, the individual is disqualified—
(a) for sitting or voting in the House of Lords,
(b) for being elected to, or sitting or voting in, the House of Commons, and
(c) for sitting or voting in a committee of either House.
(2) Where an individual is disqualified under this section, the disqualification ceases—
(a) except where the award is recalled or reduced without the individual having been first discharged, on the discharge of the individual, and
(b) in the excepted case, on the ... recall or reduction, as the case may be.
(3) No writ of summons shall be issued to any lord of Parliament who is for the time being disqualified under this section for sitting and voting in the House of Lords.
(4) Where a member of the House of Commons who is disqualified under this section continues to be so disqualified until the end of the period of 6 months beginning with the day of the ... award, his seat shall be vacated at the end of that period.
(5) A court which makes an ... award such as is mentioned is subsection (1) in relation to any lord of Parliament or member of the House of Commons shall forthwith certify the ... award to the Speaker of the House of Lords or, as the case may be, to the Speaker of the House of Commons.
(6) Where a court has certified an ... award to the Speaker of the House of Commons under subsection (5), then immediately after it becomes apparent which of the following certificates is applicable, the court shall certify to the Speaker of the House of Commons—
(a) that the period of 6 months beginning with the day of the ... award has expired without the ... award having been ..., recalled or reduced, or
(b) that the ... award has been ..., recalled or reduced before the end of that period.
(6A) Subsections (4) to (6) have effect in relation to a member of the Scottish Parliament but as if—
(a) references to the House of Commons were to the Parliament and references to the Speaker were to the Presiding Officer, and
(b) in subsection (4), for “under this section” there were substituted “under section 15(1)(b) of the Scotland Act 1998 by virtue of this section”.
(6B) Subsections (4) to (6) have effect in relation to a member of the National Assembly for Wales but as if—
(a) references to the House of Commons were to the Assembly and references to the Speaker were to the presiding officer, and
(b) in subsection (4), for “under this section” there were substituted “under section 16(A1)(a) of the Government of Wales Act 2006 and paragraph 4 of Schedule 1A to that Act”.
(6C) Subsections (4) to (6) have effect in relation to a member of the Northern Ireland Assembly but as if—
(a) references to the House of Commons were to the Assembly and references to the Speaker were to the Presiding Officer; and
(b) in subsection (4), for “under this section” there were substituted “ under section 36(4) of the Northern Ireland Act 1998 by virtue of this section ”.
(7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
429 Disabilities on revocation of administration order against an individual.
(1) The following applies where a person fails to make any payment which he is required to make by virtue of an administration order under Part VI of the County Courts Act 1984.
(2) The court which is administering that person’s estate under the order may, if it thinks fit—
(a) revoke the administration order, and
(b) make an order directing that this section and section 12 of the Company Directors Disqualification Act 1986 shall apply to the person for such period, not exceeding one year, as may be specified in the order.
(3) A person to whom this section so applies shall not—
(a) either alone or jointly with another person, obtain credit to the extent of the amount prescribed for the purposes of section 360(1)(a) or more, or
(b) enter into any transaction in the course of or for the purposes of any business in which he is directly or indirectly engaged,
without disclosing to the person from whom he obtains the credit, or (as the case may be) with whom the transaction is entered into, the fact that this section applies to him.
(4) The reference in subsection (3) to a person obtaining credit includes—
(a) a case where goods are bailed or hired to him under a hire-purchase agreement or agreed to be sold to him under a conditional sale agreement, and
(b) a case where he is paid in advance (whether in money or otherwise) for the supply of goods or services.
(5) A person who contravenes this section is guilty of an offence and liable to imprisonment or a fine, or both.
430 Provision introducing Schedule of punishments.
(1) Schedule 10 to this Act has effect with respect to the way in which offences under this Act are punishable on conviction.
(2) In relation to an offence under a provision of this Act specified in the first column of the Schedule (the general nature of the offence being described in the second column), the third column shows whether the offence is punishable on conviction on indictment, or on summary conviction, or either in the one way or the other.
(3) The fourth column of the Schedule shows, in relation to an offence, the maximum punishment by way of fine or imprisonment under this Act which may be imposed on a person convicted of the offence in the way specified in relation to it in the third column (that is to say, on indictment or summarily) a reference to a period of years or months being to a term of imprisonment of that duration.
(4) The fifth column shows (in relation to an offence for which there is an entry in that column) that a person convicted of the offence after continued contravention is liable to a daily default fine; that is to say, he is liable on a second or subsquent conviction of the offence to the fine specified in that column for each day on which the contravention is continued (instead of the penalty specified for the offence in the fourth column of the Scheudule).
(4A) In relation to an offence committed before 2 May 2022, a reference in Schedule 10 to 12 months on summary conviction in England and Wales is to be read as a reference to 6 months.
(5) For the purpose of any enactment in this Act whereby an officer of a company who is in default is liable to a fine or penalty, the expression “officer who is in default” means any officer of the company who knowingly and wilfully authorises or permits the default, refusal or contravention mentioned in the enactment.
(1) Summary proceedings for any offence under any of Parts A1 to VII of this Act may (without prejudice to any jurisdiction exercisable apart from this subsection) be taken against a body corporate at any place at which the body has a place of business, and against any other person at any place at which he is for the time being.
(2) Notwithstanding anything in section 127(1) of the Magistrates’ Courts Act 1980, an information relating to such an offence which is triable by a magistrates’ court in England and Wales may be so tried if it is laid at any time within 3 years after the commission of the offence and within 12 months after the date on which evidence sufficient in the opinion of the Director of Public Prosecutions or the Secretary of State (as the case may be) to justify the proceedings comes to his knowledge.
(3) Summary proceedings in Scotland for such an offence shall not be commenced after the expiration of 3 years from the commission of the offence.
Subject to this (and notwithstanding anything in section 136 of the Criminal Procdure (Scotland) Act 1995), such proceedings may (in Scotland) be commenced at any time within 12 months after the date on which evidence sufficient in the Lord Advocate’s opinion to justify the proceedings came to his knowledge or, where such evidence was reported to him by the Secretary of State, within 12 months after the date on which it came to the knowledge of the latter; and subsection (3) of that section applies for the purpose of this subsection as it applies for the purpose of that section.
(4) For purposes of this section, a certificate of the Director of Public Prosecutions, the Lord Advocate or the Secretary of State (as the case may be) as to the date on which such evidence as is referred to above came to his knowledge is conclusive evidence.
(1) This section applies to offences under this Act other than those excepted by subsection (4).
(2) Where a body corporate is guilty of an offence to which this section applies and the offence is proved to have been committed with the consent or connivance of, or to be attributable to any neglect on the part of, any director, manager, secretary or other similar officer of the body corporate or any person who was purporting to act in any such capacity he, as well as the body corporate, is guilty of the offence and liable to be proceeded against and punished accordingly.
(3) Where the affairs of a body corporate are managed by its members, subsection (2) applies in relation to the acts and defaults of a member in connection with his functions of management as if he were a director of the body corporate.
(4) The offences excepted from this section are those under sections A19(5), A25(3), A26(4), A27(1), A28(5), A29(6), A30(2), A31(10), A32(4), 30, 39, 51, 53, 54, 62, 64, 66, 85, 89, 164, 188, 201, 206, 207, 208, 209, 210 and 211 ....
433 Admissibility in evidence of statements of affairs, etc.
(1) In any proceedings (whether or not under this Act)—
(a) a statement of affairs prepared for the purposes of any provision of this Act which is derived from the Insolvency Act 1985,
(aa) a statement made in pursuance of a requirement imposed by or under Part 2 of the Banking Act 2009 (bank insolvency),
(ab) a statement made in pursuance of a requirement imposed by or under Part 3 of that Act (bank administration), and
(b) any other statement made in pursuance of a requirement imposed by or under any such provision or by or under rules made under this Act,
may be used in evidence against any person making or concurring in making the statement.
(2) However, in criminal proceedings in which any such person is charged with an offence to which this subsection applies—
(a) no evidence relating to the statement may be adduced, and
(b) no question relating to it may be asked,
by or on behalf of the prosecution, unless evidence relating to it is adduced, or a question relating to it is asked, in the proceedings by or on behalf of that person.
(3) Subsection (2) applies to any offence other than—
(a) an offence under section 22(6), 47(6), 48(8), 66(6), 67(8), 95(8), ... 99(3), 131(7), 192(2), 208(1)(a) or (d) or (2), 210, 235(5), 353(1), 354(1)(b) or (3) or 356(1) or (2)(a) or (b) or paragraph 4(3)(a) of Schedule 7;
(b) an offence which is—
(i) created by rules made under this Act, and
(ii) designated for the purposes of this subsection by such rules or by regulations made by the Secretary of State;
(c) an offence which is—
(i) created by regulations made under any such rules, and
(ii) designated for the purposes of this subsection by such regulations;
(d) an offence under section 1, 2 or 5 of the Perjury Act 1911 (false statements made on oath or made otherwise than on oath); or
(e) an offence under section 44(1) or (2) of the Criminal Law (Consolidation) (Scotland) Act 1995 (false statements made on oath or otherwise than on oath).
(4) Regulations under subsection (3)(b)(ii) shall be made by statutory instrument and, after being made, shall be laid before each House of Parliament.
For the avoidance of doubt it is hereby declared that provisions of this Act which derive from the Insolvency Act 1985 and Part A1 and sections 233A and 233B and Schedule 4ZZA bind the Crown so far as affecting or relating to the following matters, namely—
(a) remedies against, or against the property of, companies or individuals;
(b) priorities of debts;
(c) transactions at an undervalue or preferences;
(d) voluntary arrangements approved under Part I or Part VIII, and
(e) discharge from bankruptcy.
434B Representation of corporations in decision procedures and at meetings
(1) If a corporation is a creditor or debenture-holder, it may by resolution of its directors or other governing body authorise a person or persons to act as its representative or representatives—
(a) in a qualifying decision procedure, held in pursuance of this Act or of rules made under it, by which a decision is sought from the creditors of a company, or
(b) at any meeting of a company held in pursuance of the provisions contained in a debenture or trust deed.
(2) Where the corporation authorises only one person, that person is entitled to exercise the same powers on behalf of the corporation as the corporation could exercise if it were an individual creditor or debenture-holder.
(3) Where the corporation authorises more than one person, any one of them is entitled to exercise the same powers on behalf of the corporation as the corporation could exercise if it were an individual creditor or debenture-holder.
(4) Where the corporation authorises more than one person and more than one of them purport to exercise a power under subsection (3)—
(a) if they purport to exercise the power in the same way, the power is treated as exercised in that way;
(b) if they do not purport to exercise the power in the same way, the power is treated as not exercised.
In proceedings against a person for an offence under this Act nothing in this Act is to be taken to require any person to disclose any information that he is entitled to refuse to disclose on grounds of legal professional privilege (in Scotland, confidentiality of communications).
(1) This section applies where a company has made default in complying with any obligation under this Act—
(a) to deliver a document to the registrar, or
(b) to give notice to the registrar of any matter.
(2) The registrar, or any member or creditor of the company, may give notice to the company requiring it to comply with the obligation.
(3) If the company fails to make good the default within 14 days after service of the notice, the registrar, or any member or creditor of the company, may apply to the court for an order directing the company, and any specified officer of it, to make good the default within a specified time.
(4) The court's order may provide that all costs (in Scotland, expenses) of or incidental to the application are to be borne by the company or by any officers of it responsible for the default.
(5) This section does not affect the operation of any enactment imposing penalties on a company or its officers in respect of any such default.
434E Application of filing obligations to overseas companies
The provisions of this Act requiring documents to be forwarded or delivered to, or filed with, the registrar of companies apply in relation to an overseas company that is required to register particulars under section 1046 of the Companies Act 2006 as they apply in relation to a company registered under that Act in England and Wales or Scotland.
(1) For the purposes of this Act any question whether a person is an associate of another person is to be determined in accordance with the following provisions of this section (any provision that a person is an associate of another person being taken to mean that they are associates of each other).
(2) A person is an associate of an individual if that person is—
(a) the individual’s husband or wife or civil partner,
(b) a relative of—
(i) the individual, or
(ii) the individual’s husband or wife or civil partner, or
(c) the husband or wife or civil partner of a relative of—
(i) the individual, or
(ii) the individual’s husband or wife or civil partner.
(3) A person is an associate of any person with whom he is in partnership, and of the husband or wife or civil partner or a relative of any individual with whom he is in partnership; and a Scottish firm is an associate of any person who is a member of the firm.
(4) A person is an associate of any person whom he employs or by whom he is employed.
(5) A person in his capacity as trustee of a trust other than—
(a) a trust arising under any of the second Group of Parts or the Bankruptcy (Scotland) Act 2016, or
(b) a pension scheme or an employees’ share scheme . . . ,
is an associate of another person if the beneficiaries of the trust include, or the terms of the trust confer a power that may be exercised for the benefit of, that other person or an associate of that other person.
(6) A company is an associate of another company—
(a) if the same person has control of both, or a person has control of one and persons who are his associates, or he and persons who are his associates, have control of the other, or
(b) if a group of two or more persons has control of each company, and the groups either consist of the same persons or could be regarded as consisting of the same persons by treating (in one or more cases) a member of either group as replaced by a person of whom he is an associate.
(7) A company is an associate of another person if that person has control of it or if that person and persons who are his associates together have control of it.
(8) For the purposes of this section a person is a relative of an individual if he is that individual’s brother, sister, uncle, aunt, nephew, niece, lineal ancestor or lineal descendant, treating—
(a) any relationship of the half blood as a relationship of the whole blood and the stepchild or adopted child of any person as his child, and
(b) an illegitimate child as the legitimate child of his mother and reputed father;
and references in this section to a husband or wife include a former husband or wife and a reputed husband or wife and references to a civil partner include a former civil partnerand a reputed civil partner.
(9) For the purposes of this section any director or other officer of a company is to be treated as employed by that company.
(10) For the purposes of this section a person is to be taken as having control of a company if—
(a) the directors of the company or of another company which has control of it (or any of them) are accustomed to act in accordance with his directions or instructions, or
(b) he is entitled to exercise, or control the exercise of, one third or more of the voting power at any general meeting of the company of or another company which has control of it;
and where two or more persons together satisfy either of the above conditions, they are to be taken as having control of the company.
(11) In this section “company” includes any body corporate (whether incorporated in Great Britain or elsewhere); and references to directors and other officers of a company and to voting power at any general meeting of a company have effect with any necessary modifications.
(1) In this Act, except in so far as the context otherwise requires (and subject to Parts VII and XI)—
“agricultural charge” has the same meaning as in the Agricultural Credits Act 1928;
“agricultural receiver” means a receiver appointed under an agricultural charge;
“the appointed day” means the day of which this Act comes into force under section 443;
“associate” has the meaning given by section 435;
“body corporate” includes a body incorporated outside Great Britain, but does not include—
a corporation sole, or
a partnership that, whether or not a legal person, is not regarded as a body corporate under the law by which it is governed;
“business” includes a trade or profession;
“the Companies Act” means the Companies Act 1985;
“the Companies Acts” means the Companies Acts (as defined in section 2 of the Companies Act 2006) as they have effect in Great Britain;
“conditional sale agreement” and “hire-purchase agreement” have the same meanings as in the Consumer Credit Act 1974;
“corporate member” means an insolvent member which is a company;
“the court”, in relation to an insolvent partnership, means the court which has jurisdiction to wind up the partnership;
“distress” includes use of the procedure in Schedule 12 to the Tribunals, Courts and Enforcement Act 2007, and references to levying distress, seizing goods and related expressions shall be construed accordingly;
...
“ the EU Regulation ” means Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings as it forms part of domestic law on and after exit day;
“EEA State” means a state that is a Contracting Party to the Agreement on the European Economic Area signed at Oporto on 2nd May 1992 as adjusted by the Protocol signed at Brussels on 17th March 1993;
“employees' share scheme” means a scheme for encouraging or facilitating the holding of shares in or debentures of a company by or for the benefit of—
the bona fide employees or former employees of—
the company,
any subsidiary of the company, or
the company's holding company or any subsidiary of the company's holding company, or
the spouses, civil partners, surviving spouses, surviving civil partners, or minor children or step-children of such employees or former employees.
“individual member” means an insolvent member who is an individual;
“insolvency order” means—
in the case of an insolvent partnership or a corporate member, a winding-up order; and
in the case of an individual member, a bankruptcy order;
“insolvency petition” means, in the case of a petition presented to the court—
against a corporate member, a petition for its winding up by the court;
against an individual member, a petition for a bankruptcy order to be made against that individual,
where the petition is presented in conjunction with a petition for the winding up of the partnership by the court as an unregistered company under the Act;
“insolvency proceedings” means any proceedings under the Act, this Order or the Insolvency Rules 1986
“insolvent member” means a member of an insolvent partnership, against whom an insolvency petition is being or has been presented;
“joint bankruptcy petition” means a petition by virtue of article 11 of this Order;
“joint debt” means a debt of an insolvent partnership in respect of which an order is made by virtue of Part IV or V of this Order;
“joint estate” means the partnership property of an insolvent partnership in respect of which an order is made by virtue of Part IV or V of this Order;
“joint expenses” means expenses incurred in the winding up of an insolvent partnership or in the winding up of the business of an insolvent partnership and the administration of its property;
“limited partner” has the same meaning as in the Limited Partnerships Act 1907;
“member” means a member of a partnership and any person who is liable as a partner within the meaning of section 14 of the Partnership Act 1890;
“modifications” includes additions, alterations and omissions and cognate expressions shall be construed accordingly;
“officer”, in relation to an insolvent partnership, means—
a member; or
a person who has management or control of the partnership business;
“partnership property” has the same meaning as in the Partnership Act 1890;
“postponed debt” means a debt the payment of which is postponed by or under any provision of the Act or of any other enactment;
“property” includes money, goods, things in action, land and every description of property wherever situated and also obligations and every description of interest, whether present or future or vested or contingent, arising out of, or incidental to, property;
“records” includes computer records and other non-documentary records;
“responsible insolvency practitioner” means—
in winding up, the liquidator of an insolvent partnership or corporate member; and
in bankruptcy, the trustee of the estate of an individual member,
and in either case includes the official receiver when so acting;
“separate debt” means a debt for which a member of a partnership is liable, other than a joint debt;
“separate estate” means the property of an insolvent member against whom an insolvency order has been made;
“separate expenses” means expenses incurred in the winding up of a corporate member, or in the bankruptcy of an individual member; and
“subordinate legislation” has the same meaning as in the Interpretation Act 1978; and
“transaction” includes a gift, agreement or arrangement, and references to entering into a transaction shall be construed accordingly.
“trustee of the partnership” means a person authorised by order made by virtue of article 11 of this Order to wind up the business of an insolvent partnership and to administer its property.
(2) The following expressions have the same meaning in this Act as in the Companies Acts—
“articles”, in relation to a company (see section 18 of the Companies Act 2006);
“debenture” (see section 738 of that Act);
“holding company” (see sections 1159 and 1160 of, and Schedule 6 to, that Act);
“the Joint Stock Companies Acts” (see section 1171 of that Act);
“overseas company” (see section 1044 of that Act);
“paid up” (see section 583 of that Act);
“private company” and “public company” (see section 4 of that Act);
“registrar of companies” (see section 1060 of that Act);
“share” (see section 540 of that Act);
“subsidiary” (see sections 1159 and 1160 of, and Schedule 6 to, that Act).
(1) A reference in this Act to a thing in writing includes that thing in electronic form.
(2) Subsection (1) does not apply to the following provisions—
(a) section 53 (mode of appointment by holder of charge),
(b) section 67(2) (report by receiver),
(c) section 70(4) (reference to instrument creating a charge),
(d) section 111(2) (dissent from arrangement under s. 110),
(e) in the case of a winding up of a company registered in Scotland, section 111(4),
(f) section 123(1) (definition of inability to pay debts),
(g) section 198(3) (duties of sheriff principal as regards examination),
(h) section 222(1) (inability to pay debts: unpaid creditor for £750 or more), and
(i) section 223 (inability to pay debts: debt remaining unsatisfied after action brought).
The transitional provisions and savings set out in Schedule 11 to this Act shall have effect, the Schedule comprising the following Parts—
Part I: company insolvency and winding up (matters arising before appointed day, and continuance of proceedings in certain cases as before that day);
Part II: individual insolvency (matters so arising, and continuance of bankruptcy proceedings in certain cases as before that day);
Part III: transactions entered into before the appointed day and capable of being affected by orders of the court under Part XVI of this Act;
Part IV: insolvency practitioners acting as such before the appointed day; and
Part V: general transitional provisions and savings required consequentially on, and in connection with, the repeal and replacement by this Act and the Company Directors Disqualification Act 1986 of provisions of the Companies Act 1985, the greater part of the Insolvency Act 1985 and other enactments.
(1) The Companies Act is amended as shown in Parts I and II of Schedule 13 to this Act, being amendments consequential on this Act and the Company Directors Disqualification Act 1986.
(2) The enactments specified in the first column of Schedule 14 to this Act (being enactments which refer, or otherwise relate, to those which are repealed and replaced by this Act or the Company Directors Diqualification Act 1986) are amended as shown in the second column of that Schedule.
(3) The Lord Chancellor may by order make such consequential modifications of any provision contained in any subordinate legislation made before the appointed day and such transitional provisions in connection with those modifications as appear to him necessary or expedient in respect of—
(a) any reference in that subordinate legislation to the Bankruptcy Act 1914;
(b) any reference in that subordinate legislation to any enactment repealed by Part III or IV or Schedule 10 to the Insolvency Act 1985; or
(c) any reference in that subordinate legislation to any matter provided for under the Act of 1914 or under any enactment so repealed.
(4) An order under this section shall be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.