SCHEDULES
SCHEDULE 1 Insolvency Practitioners Tribunal
1
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1
Supervision by Council on Tribunals
F25
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Parliamentary disqualification
6
1
In Part III of Schedule 1 to the M1House of Commons Disqualification Act 1975 (disqualifying offices), there shall be inserted at the appropriate place the following entry—
Any member of the Insolvency Practitioners Tribunal in receipt of remuneration.
2
A corresponding amendment shall be made in Part III of Schedule 1 to the M2Northern Ireland Assembly Disqualification Act 1975.
SCHEDULE 2 . . . F3
SCHEDULES 3—5 . . . F4
Sch. 1 paras. 1–4, 5(4), Schs. 3–5, Sch. 6 paras. 5, 6, 9, 15–17, 20–22, 25–44, 48–52, Sch. 7, Sch. 9 paras. 1, 4–24, Sch. 10 repealed by Insolvency Act 1986 (c. 45, SIF 66), s. 438, Sch. 12
SCHEDULE 6 Amendments of 1985 Act
Disqualification etc.
1
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F5
3
In section 441(1) (inspector’s report to be evidence of opinion of inspectors), at the end there shall be inserted the words “
and, in proceedings on an application under section 13 of the Insolvency Act 1985, as evidence of any fact stated therein
”
.
F454
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6
7
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7
Voluntary arrangements
F368
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Administration orders
9
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F8
10
In sections 395(1) and 410(2) (certain charges void if not registered), after the word “liquidator” there shall be inserted the words “
or administrator
”
.
11
In section 425(1) (power of company to compromise with creditors and members), for the words “, of the liquidator” there shall be substituted the words “
or an administration order being in force in relation to a company, of the liquidator or administrator
”
.
12
In section 426(6) liability of officer or liquidator of company for default in connection with the circulation of information as to a compromise), after the word “liquidator” there shall be inserted the words “
or administrator
”
.
13
In section 478(6) (receiver to be appointed within one month of cessation of appointment of earlier receiver), at the end there shall be inserted the words—
and for the purposes of calculating the period of one month under this subsection no account shall be taken of any period during which an administration order under Part II of the Insolvency Act 1985 is in force
14
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F9
15
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F10
Receivers (Scotland)
18
In subsection (3) of section 463 (effect of floating charge on winding up), for the words “section 614(2)” there shall be substituted the words “
section 89 of the Insolvency Act 1985
”
.
19
In subsection (6) of section 464 (ranking of floating charges), for the words “section 614(2) (preferential debts in winding up)” there shall be substituted the words “
section 89 of the Insolvency Act 1985
”
.
20
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F11
Winding up
23
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F12
24
For subsection (6) of section 461 (application of winding-up rules to petition under Part XVI) there shall be substituted the following subsection—
6
The power under section 106 of the Insolvency Act 1985 to make rules shall, so far as it relates to a winding-up petition, apply for the purposes of a petition under this Part.
25
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F13
45
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F14
46
For subsection (2) of section 657 (effect of Crown disclaimer) there shall be substituted the following subsection—
2
As regards property in England and Wales, subsections (3) and (5) to (7) of section 91 of the Insolvency Act 1985 and section 92 of that Act shall apply as if the property had been disclaimed by the liquidator under the said section 91 immediately before the dissolution of the company.
47
For subsection (1) of section 658 (application of section 620) there shall be substituted the following subsection—
1
Subsection (7) of section 91 of the Insolvency Act 1985 shall apply to land in England and Wales which by operation of law vests subject to a rentcharge in the Crown or any other person on the dissolution of a company as it applies to land so vesting on a disclaimer under that section.
48
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F15
SCHEDULE 7 . . . F16
Sch. 1 paras. 1–4, 5(4), Schs. 3–5, Sch. 6 paras. 5, 6, 9, 15–17, 20–22, 25–44, 48–52, Sch. 7, Sch. 9 paras. 1, 4–24, Sch. 10 repealed by Insolvency Act 1986 (c. 45, SIF 66), s. 438, Sch. 12
SCHEDULE 8 Consequential Amendments
The M3Bills of Sale Act (1878) Amendment Act 1882
1
In section 11 of the Bills of Sale Act (1878) Amendment Act 1882 (local registration of bills of sale), for the words “the London bankruptcy district as defined by the Bankruptcy Act 1869” and the words “the said London bankruptcy district” there shall be substituted, in each case, the words “the London insolvency district”.
The M5Deeds of Arrangement Act 1914
2
1
The Deeds of Arrangement Act 1914 shall be amended as follows.
2
In subsections (1) and (4) of section 3 (extension by court having jurisdiction in bankruptcy of period for assent and registration), for the words “in bankruptcy in” there shall be substituted the words “for the purposes of Part III of the Insolvency Act 1985 in relation to”.
3
In section 11 (security of trustee)—
a
in subsection (1), for the words “in bankruptcy in” and the words “London bankruptcy district” there shall be substituted, respectively, the words “for the purposes of Part III of the Insolvency Act 1985 in relation to” and the words “London insolvency district”; and
b
in subsection (2), for the words “in bankruptcy in” there shall be substituted the words “for the purposes of Part III of the Insolvency Act 1985 in relation to”.
4
In section 13(2) (default in transmission of accounts to Secretary of State), for the words from “and the judge” onwards there shall be substituted the words “and, in addition, shall be guilty of contempt of court and liable to be punished accordingly”.
5
In section 14 (transmission of accounts to creditors), for the words from “the High Court” onwards there shall be substituted the words “he shall be guilty of contempt of court and liable to be punished accordingly”.
6
In section 15(1) (audit of accounts in accordance with the M4Bankruptcy Act 1914), for the words “all the provisions of the Bankruptcy Act 1914” there shall be substituted the words “any rules made under section 207 of the Insolvency Act 1985”.
7
In section 16 (payment of undistributed moneys into court), for the words “in bankruptcy in” there shall be substituted the words “for the purposes of Part III of the Insolvency Act 1985 in relation to”.
8
In section 19(1) (provisions for protection of trustees under void deeds), for the words “receiving order” there shall be substituted the words “bankruptcy order”.
9
In section 23 (courts in which applications for enforcement of trusts to be made), for the words “in bankruptcy in” there shall be substituted the words “for the purposes of Part III of the Insolvency Act 1985 in relation to”.
10
In section 30(1) (interpretation), for the words “the Bankruptcy Act 1914” there shall be substituted the words “the Insolvency Act 1985”.
The M6Settled Land Act 1925
3
In section 103 of the Settled Land Act 1925 (legal estate in settled land not to vest in trustee in bankruptcy of estate owner), for the words from the beginning to “an” there shall be substituted the words “For the purposes of determining, where the estate owner of any settled land is bankrupt, whether the legal estate in the settled land is comprised in, or is capable of being claimed for, the bankrupt’s estate, the legal estate in the settled land shall be deemed not to vest in the”.
The M8Law of Property Act 1925
4
In section 52(2)(b) of the Law of Property Act 1925 (exceptions from requirement that conveyances are to be by deed), for the words “section fifty-four of the M7Bankruptcy Act 1914” there shall be substituted the words “section 91 or 161 of the Insolvency Act 1985”.
The M9Land Registration Act 1925
F345
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The M10Agricultural Credits Act 1928
6
In section 7 of the Agricultural Credits Act 1928 (effect of floating charge), in paragraph (a)(i) of the proviso, for the words “receiving order in bankruptcy” there shall be substituted the words “bankruptcy order”.
The Third Parties (Rights against Insurers) Act 1930
7
1
The Third Parties (Rights against Insurers) Act 1930 shall be amended as follows.
2
In section 1 (rights of third parties against insurers on bankruptcy etc. of the insured)—
a
in subsection (1)(b), after the words “winding-up order” there shall be inserted the words “or an administration order” and at the end there shall be inserted the words “or of a composition or scheme proposed for the purposes of Chapter II of Part II of the Insolvency Act 1985 being approved under that Chapter”;
b
in subsection (2), for the words from “an order is made” to “law of bankruptcy” there shall be substituted the words “the estate of any person falls to be administered in accordance with an order under section 228 of the Insolvency Act 1985” and for the words “the said Act” there shall be substituted the words “any such order”;
c
in subsection (3), for the words from “making of an order” to “his estate” there shall be substituted the words “estate of any person falling to be administered in accordance with an order under section 228 of the Insolvency Act 1985”.
3
In section 2 (duty to give necessary information to third parties)—
a
in subsection (1)—
i
for the words from “an order being made” to “estate of any person” there shall be substituted the words “the estate of any person falling to the administered in accordance with an order under section 228 of the Insolvency Act 1985”;
ii
after the words “winding-up order” there shall be inserted the words “or an administration order”, and
iii
after the word “liquidator” there shall be inserted the word “administrator,”;
and
b
after that subsection there shall be inserted the following subsection—
1A
The reference in subsection (1) of this section to a trustee includes a reference to the supervisor of a composition or scheme proposed for the purposes of, and approved under, Chapter II of Part II or Chapter I of Part III of the Insolvency Act 1985.
4
In section 3 (settlement between insurers and insured)—
a
after the words “winding-up order” there shall be inserted the words “or an administration order”;
b
after the words “or winding up” there shall be inserted the words “or the day of the making of the administration order”; and
c
after the word “commencement”, in the second place where it occurs, there shall be inserted the words “or day”.
5
In section 4(b) (application to Scotland), for the words from “an order” to “law of bankruptcy” there shall be substituted the words “an estate falling to be administered in accordance with an order under section 228 of the Insolvency Act 1985”.
8
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F17
9
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F18
The M11Arbitration Act 1950
F3710
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The M12Administration of Justice Act 1956
11
In section 40 of the Administration of Justice Act 1956 (effect of registration of judgments of courts outside England and Wales)—
a
the words “the Bankruptcy Act 1914” shall be omitted; and
b
for the words “those Acts” there shall be substituted the words “the said Act of 1869”.
The M13Licensing Act 1964
12
1
The Licensing Act 1964 shall be amended as follows.
2
For paragraph (c) of section 8(1) (justices’ licence to be transferred to trustee of licensee in the case of a bankruptcy or composition or scheme), there shall be substituted the following paragraph—
(c) where the holder of the licence has been adjudged bankrupt, or a composition or scheme proposed by the holder of the licence has been approved under Chapter I of Part III of the Insolvency Act 1985, or a trustee has been appointed under a deed of arrangement within the meaning of the Deeds of Arrangement Act 1914 for the benefit of the creditors of the holder of the licence, to the trustee of the bankrupt’s estate or under the deed or the supervisor of the composition or scheme or the new tenant or occupier of the premises;
3
For subsection (5) of section 10 (protection orders where licensee dies or is adjudged bankrupt etc.) there shall be substituted the following subsection—
5
Where the holder of a justices’ licence has died or has been adjudged bankrupt, or a composition or scheme proposed by the holder of a justices’ licence has been approved under Chapter I of Part III of the Insolvency Act 1985, or a trustee has been appointed under a deed of arrangement within the meaning of the Deeds of Arrangement Act 1914 for the benefit of the creditors of the holder of a justices’ licence, the personal representatives or the person who is for the time being the trustee of the bankrupt’s estate or under the deed or the supervisor of the composition or scheme shall be in the same position as regards carrying on business under the licence as a person to whom a protection order has been validly granted on the date of the death, or, as the case may be, the date on which he became trustee or supervisor.
The M14Law of Property (Joint Tenants) Act 1964
13
In paragraph (b) of the proviso to section 1(1) of the Law of Property (Joint Tenants) Act 1964 (assumptions on sale of land by survivor of joint tenants), for the words “a receiving order in bankruptcy” there shall be substituted the words “a bankruptcy order”.
The M15General Rate Act 1967
F3814
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The M16Medicines Act 1968
15
In section 72(4) of the Medicines Act 1968 (which specifies the persons who may carry on the business of a pharmacist in the case of his death or disability), at the end there shall be inserted the words—
; and in paragraph (b) above the reference to a trustee appointed under a composition, scheme or deed of arrangement includes a reference to the supervisor of a composition or scheme proposed for the purposes of, and approved under, Chapter I of Part III of the Insolvency Act 1985.
The M17Transport Act 1968
F1916
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The M18Insolvency Services (Accounting and Investment) Act 1970
F3917
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The M19Conveyancing and Feudal Reform (Scotland) Act 1970
18
In schedule 3 to the Conveyancing and Feudal Reform (Scotland) Act 1970 (the standard conditions of a security), in standard condition 9(2)(b), for the words from “or an order” to “1925” there shall be substituted the words “or his estate falls to be administered in accordance with an order under section 228 of the Insolvency Act 1985”.
The M21Superannuation Act 1972
19
In section 5(2) of the Superannuation Act 1972 (rule that benefit is unassignable not to affect powers of court under section 51(2) of the M20Bankruptcy Act 1914)—
a
for the words “section 51(2) of the Bankruptcy Act 1914” there shall be substituted the words “section 156 of the Insolvency Act 1985”; and
b
for the words “the said section 51(2)” there shall be substituted the words “section 51(2) of the Bankruptcy Act 1914 or the said section 156”.
The M22Road Traffic Act 1972
F4020
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The M24Land Charges Act 1972
21
1
The Land Charges Act 1972 shall be amended as follows.
2
In section 5(8) (unregistered bankruptcy petition not to bind purchaser in good faith, for money or money’s worth without notice of an available act of bankruptcy) the words “without notice of an available act of bankruptcy” shall be omitted.
3
In section 6 (the register of writs and orders affecting land)—
a
for paragraph (c) of subsection (1) there shall be substituted the following paragraph—
(c) any bankruptcy order, whether or not the bankrupt’s estate is known to include land,
b
in subsection (3), for the words “receiving order in bankruptcy” there shall be substituted the words “bankruptcy order”;
c
for subsection (5) there shall be substituted the following subsection—
5
Subject to subsection (6) below, the title of a trustee in bankruptcy shall be void as against a purchaser of a legal estate in good faith for money or money’s worth unless the bankruptcy order is for the time being registered under this section.
d
in subsection (6), the words “without notice of an available act of bankruptcy” shall be omitted.
4
In section 16(2) (general rules)—
a
for the words “general rules under section 132 of the M23Bankruptcy Act 1914 for carrying into effect the objects of that Act” there shall be substituted the words “rules under section 207 of the Insolvency Act 1985”;
b
for the words “a receiving order in bankruptcy” there shall be substituted the words “a bankruptcy order”; and
c
for the words “by that Act” there shall be substituted the words “by Part III of that Act”.
The M25Local Government Act 1972
F3522
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The M26Matrimonial Causes Act 1973
23
In section 39 of the Matrimonial Causes Act 1973 (settlement etc. made in compliance with a property adjustment order may be avoided on bankruptcy of settlor), for the words from “a settlement of” onwards there shall be substituted the words “a transaction in respect of which an order may be made under section 174 of the Insolvency Act 1985 (transactions at an undervalue and preferences)”.
24
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F20
The M27Solicitors Act 1974
25
In section 12(1)(i) of the Solicitors Act 1974 (application for a practising certificate by a person who has been adjudged bankrupt and has obtained his discharge), for the words “and having obtained his discharge” there shall be substituted the words “and discharged”.
The M28Social Security Pensions Act 1975
F2126
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The M29Recess Elections Act 1975
27
In section 1(2) of the Recess Elections Act 1975 (which defines certain expressions used in that Act), in the definition of “certificate of vacancy” for the words from “the relevant bankruptcy enactment” to the end of paragraph (b) there shall be substituted the words “section 214(6)(a) of the Insolvency Act 1985”.
The M30Insolvency Act 1976
F2228
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The M31Land Drainage Act 1976
F2329
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
30
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F24
The M32Employment Protection (Consolidation) Act 1978
31
F251
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F252
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F263
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F27
F255
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The Banking Act 1979
F4132
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The M33Estate Agents Act 1979
33
In section 23(2) of the Estate Agents Act 1979 (prohibition on bankrupts engaging in estate agency work to cease on discharge), for paragraph (b) there shall be substituted the following paragraph—
“(b) he is discharged from bankruptcy.”
The M34Public Passenger Vehicles Act 1981
34
In section 19(3) of the Public Passenger Vehicles Act 1981 (holder of PSV operator’s licence to give notice of bankruptcy etc.), after the word “estate” there shall be inserted the words “or the making of an administration order under Chapter III of Part II of the Insolvency Act 1985 in relation to the holder”.
The M35Supreme Court Act 1981
F4235
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The M36Civil Jurisdiction and Judgments Act 1982
36
After paragraph (b) of section 18(3) of the Civil Jurisdiction and Judgments Act 1982 (judgments to which provisions relating to the enforcement of judgments within the United Kingdom do not apply), there shall be inserted the following paragraph—
“(ba) a judgment given in the exercise of jurisdiction in relation to insolvency law, within the meaning of section 213 of the Insolvency Act 1985;”.
The M37Insurance Companies Act 1982
37
1
The Insurance Companies Act 1982 shall be amended as follows.
F432
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
In section 56 (continuation of long term business of insurance companies in liquidation)—
a
in subsection (4), for the words “Section 556(3) of the Companies Act” and for the words “section 556 of the Companies Act” there shall be substituted, respectively, the words “Section 90(5) of the Insolvency Act 1985” and the words “section 90 of the said Act of 1985”;
b
in subsection (7), for the words “committee of inspection” there shall be substituted the words “a specified committee”.
4
In section 59 (winding-up rules)—
a
in subsection (1), for the words “section 663 of the Companies Act” there shall be substituted the words “section 106 of the Insolvency Act 1985”; and
b
in subsection (2), for the words “section 663 of the Companies Act” and the words “section 614 of, and schedule 19 to, the Companies Act” there shall be substituted, respectively, the words “section 106 of the Insolvency Act 1985” and the words “section 89 of, and schedule 4 to, the Insolvency Act 1985”.
The M38County Courts Act 1984
38
1
The County Courts Act 1984 shall be amended as follows.
F282
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F283
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F444
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The Housing Act 1985
39
1
The Housing Act 1985 shall be amended as follows.
2
In paragraph 3(4) of schedule 18 (suspension of condition as to residence), for the words “is administered in bankruptcy under section 130 of the Bankruptcy Act 1914” there shall be substituted the words “falls to be administered in accordance with an order under section 228 of the Insolvency Act 1985”.
3
In paragraph 5(3) of that schedule (conditions affecting house purchased by means of advance), for the words “being administered in bankruptcy under section 130 of the Bankruptcy Act 1914” there shall be substituted the words “falling to be administered in accordance with an order under section 228 of the Insolvency Act 1985”.
The M39Administration of Justice Act 1985
40
In section 16(1)(g) of the Administration of Justice Act 1985 (conditional licences), for the words “and having obtained his discharge” there shall be substituted the words “and discharged”.
SCHEDULE 9 Transitional Provisions and Savings
Part I
1
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F29
Part II
2
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F30
4
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F31
Parts III and IV
11
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F32
SCHEDULE 10 . . . F33
Sch. 1 paras. 1–4, 5(4), Schs. 3–5, Sch. 6 paras. 5, 6, 9, 15–17, 20–22, 25–44, 48–52, Sch. 7, Sch. 9 paras. 1, 4–24, Sch. 10 repealed by Insolvency Act 1986 (c. 45, SIF 66), s. 438, Sch. 12
Sch. 2, Sch. 6 paras. 1, 2, 14, Sch. 9 paras. 2, 3 repealed by Company Directors Disqualification Act 1986 (c. 46, SIF 27), s. 23(2), Sch. 4