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The Insolvency (Northern Ireland) Order 1989
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- 01/01/2006- Amendment
- 27/03/2006- Amendment
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- 04/01/2024
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The Insolvency (Northern Ireland) Order 1989, PART I is up to date with all changes known to be in force on or before 25 May 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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PART IN.I.POWERS EXERCISABLE WITH SANCTION
1. Power to carry on any business of the bankrupt so far as may be necessary for winding it up beneficially and so far as the trustee is able to do so without contravening any requirement imposed by or under any statutory provision.N.I.
2. Power to bring, institute or defend any action or legal proceedings relating to the property comprised in the bankrupt's estate.N.I.
[F12A. Power to bring legal proceedings under Article 312, 313 or 367.]N.I.
F1Sch. 3 para. 2A inserted (27.3.2006) by Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10)), arts. 1(3), 19 (with art. 4); S.R. 2006/21, art. 2 (with S.R. 2006/22, arts. 2-7)
3. Power to accept as the consideration for the sale of any property comprised in the bankrupt's estate a sum of money payable at a future time subject to such stipulations as to security or otherwise as the creditors' committee or the High Court thinks fit.N.I.
4. Power to mortgage or pledge any part of the property comprised in the bankrupt's estate for the purpose of raising money for the payment of his debts.N.I.
5. Power, where any right, option or other power forms part of the bankrupt's estate, to make payments or incur liabilities with a view to obtaining, for the benefit of the creditors, any property which is the subject of the right, option or power.N.I.
F26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.
F2Sch. 3 para. 6 repealed (1.4.2016) by Insolvency (Amendment) Act (Northern Ireland) 2016 (c. 2), ss. 8(2)(a), 28(2), Sch. 4 (with Sch. 2 para. 5); S.R. 2016/203, art. 2
7. Power to make such compromise or other arrangement as may be thought expedient with creditors, or persons claiming to be creditors, in respect of bankruptcy debts.N.I.
8. Power to make such compromise or other arrangement as may be thought expedient with respect to any claim arising out of or incidental to the bankrupt's estate made or capable of being made on the trustee by any person F3....N.I.
F3Words in Sch. 3 para. 8 repealed (1.4.2016) by Insolvency (Amendment) Act (Northern Ireland) 2016 (c. 2), ss. 8(2)(b), 28(2), Sch. 4 (with Sch. 2 para. 5); S.R. 2016/203, art. 2
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