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Insolvency Act 1986
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- UK Public General Acts
- 1986 c. 45
- The Third Group of Parts
- PART XV
- Other order-making powers
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Other order-making powers
420Insolvent partnerships
(1)The Lord Chancellor may, by order made with the concurrence of the Secretary of State, 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.
(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 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.
421Insolvent estates of deceased persons
(1)The Lord Chancellor may, by order made with the concurrence of the Secretary of State, provide that such provisions of this Act as may be specified in the order shall apply to the administration of the insolvent estates of deceased persons with such modifications as may be so specified.
(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 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.
422Recognised banks, etc.
(1)The Secretary of State may, by order made with the concurrence of the Treasury and after consultation with the Bank of England, provide that such provisions in the first Group of Parts as may be specified in the order shall apply in relation to—
(a)recognised banks and licensed institutions within the meaning of the [1979 c. 37.] Banking Act 1979, and
(b)institutions to which sections 16 and 18 of that Act apply as if they were licensed institutions,
with such modifications as may be so specified.
(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.
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