C12C14Part XV Subordinate Legislation

Annotations:
Modifications etc. (not altering text)
C12

Pt. XV (ss. 411-422) applied (with modifications) (1.12.1994) by S.I. 1994/2421, arts. 8(4)(5)(8)(9), 10(2)(3)(6), Sch. 4 Pt. II, Sch. 7

General insolvency rules

C1C2C3C13C15C17411 Company insolvency rules.

1

Rules may be made—

a

in relation to England and Wales, by the Lord Chancellor with the concurrence of the Secretary of State F1and, in the case of rules that affect court procedure, with the concurrence of the Lord Chief Justice, or

C20C21b

in relation to Scotland, by the Secretary of State,

for the purpose of giving effect to Parts I to VII of this Act F2or the F32EU Regulation.

F31A

Rules may also be made for the purpose of giving effect to Part 2 of the Banking Act 2009 (bank insolvency orders); and rules for that purpose shall be made—

a

in relation to England and Wales, by the Lord Chancellor with the concurrence of—

i

the Treasury, and

ii

in the case of rules that affect court procedure, the Lord Chief Justice, or

b

in relation to Scotland, by the Treasury.

C22F41B

Rules may also be made for the purpose of giving effect to Part 3 of the Banking Act 2009 (bank administration); and rules for that purpose shall be made—

a

in relation to England and Wales, by the Lord Chancellor with the concurrence of—

i

the Treasury, and

ii

in the case of rules that affect court procedure, the Lord Chief Justice, or

b

in relation to Scotland, by the Treasury.

C20C212

Without prejudice to the generality of subsection (1), F5(1A)F6or (1B) or to any provision of those Parts by virtue of which rules under this section may be made with respect to any matter, rules under this section may contain—

a

any such provision as is specified in Schedule 8 to this Act or corresponds to provision contained immediately before the coming into force of section 106 of the M1Insolvency Act 1985 in rules made, or having effect as if made, under section 663(1) or (2) of the F7the Companies Act 1985 (old winding-up rules), and

b

such incidental, supplemental and transitional provisions as may appear to the Lord Chancellor or, as the case may be, the Secretary of State F8or the Treasury necessary or expedient.

F92A

For the purposes of subsection (2), a reference in Schedule 8 to this Act to doing anything under or for the purposes of a provision of this Act includes a reference to doing anything under or for the purposes of the F33EU Regulation (in so far as the provision of this Act relates to a matter to which the F33EU Regulation applies).

2B

Rules under this section for the purpose of giving effect to the F34EU Regulation may not create an offence of a kind referred to in paragraph 1(1)(d) of Schedule 2 to the European Communities Act 1972.

F102C

For the purposes of subsection (2), a reference in Schedule 8 to this Act to doing anything under or for the purposes of a provision of this Act includes a reference to doing anything under or for the purposes of Part 2 of the Banking Act 2009.

F112D

For the purposes of subsection (2), a reference in Schedule 8 to this Act to doing anything under or for the purposes of a provision of this Act includes a reference to doing anything under or for the purposes of Part 3 of the Banking Act 2009.

3

In Schedule 8 to this Act “liquidator” includes a provisional liquidator F12or bank liquidatorF13or administrator; and references above in this section to Parts I to VII of this Act F14or Part 2 F15or 3 of the Banking Act 2009 are to be read as including F16the Companies Actsso far as relating to, and to matters connected with or arising out of, the insolvency or winding up of companies.

F173A

In this section references to Part 2 or 3 of the Banking Act 2009 include references to those Parts as applied to building societies (see section 90C of the Building Societies Act 1986).

C184

Rules under this section shall be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.

C195

Regulations made by the Secretary of State F18or the Treasury under a power conferred by rules under this section shall be made by statutory instrument and, after being made, shall be laid before each House of Parliament.

6

Nothing in this section prejudices any power to make rules of court.

F197

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.

C4C5412 Individual insolvency rules (England and Wales).

1

The Lord Chancellor may, with the concurrence of the Secretary of State F20and, in the case of rules that affect court procedure, with the concurrence of the Lord Chief Justice, make rules for the purpose of giving effect to F21Parts 7A to 11 of this Act F22or the F35EU Regulation .

2

Without prejudice to the generality of subsection (1), or to any provision of those Parts by virtue of which rules under this section may be made with respect to any matter, rules under this section may contain—

a

any such provision as is specified in Schedule 9 to this Act or corresponds to provision contained immediately before the appointed day in rules made under section 132 of the M2Bankruptcy Act 1914; and

b

such incidental, supplemental and transitional provisions as may appear to the Lord Chancellor necessary or expedient.

F232A

For the purposes of subsection (2), a reference in Schedule 9 to this Act to doing anything under or for the purposes of a provision of this Act includes a reference to doing anything under or for the purposes of the F36EU Regulation (in so far as the provision of this Act relates to a matter to which the F36EU Regulation applies).

2B

Rules under this section for the purpose of giving effect to the F37EU Regulation may not create an offence of a kind referred to in paragraph 1(1)(d) of Schedule 2 to the European Communities Act 1972.

3

Rules under this section shall be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.

4

Regulations made by the Secretary of State under a power conferred by rules under this section shall be made by statutory instrument and, after being made, shall be laid before each House of Parliament.

5

Nothing in this section prejudices any power to make rules of court.

F246

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.

C6C7413 Insolvency Rules Committee.

1

The committee established under section 10 of the M3Insolvency Act 1976 (advisory committee on bankruptcy and winding-up rules) continues to exist for the purpose of being consulted under this section.

C8C9C10C11C162

The Lord Chancellor shall consult the committee before making any rules under section 411 or 412 F25other than rules which contain a statement that the only provision made by the rules is provision applying rules made under section 411, with or without modifications, for the purposes of provision made by section F26any of sections 23 to 26 of the Water Industry Act 1991 or Schedule 3 to that ActF27or by any of sections 59 to 65 of, or Schedule 6 or 7 to, the Railways Act 1993..

3

Subject to the next subsection, the committee shall consist of—

a

a judge of the High Court attached to the Chancery Division;

b

a circuit judge;

c

F38an insolvency and companies court judge;

F31d

a district judge;

e

a practising barrister;

f

a practising solictor; and

g

a practising accountant;

and the appointment of any person as a member of the committee shall be made F28in accordance with subsection (3A) or (3B).

F293A

The Lord Chief Justice must appoint the persons referred to in paragraphs (a) to (d) of subsection (3), after consulting the Lord Chancellor.

3B

The Lord Chancellor must appoint the persons referred to in paragraphs (e) to (g) of subsection (3), after consulting the Lord Chief Justice.

4

The Lord Chancellor may appoint as additional members of the committee any persons appearing to him to have qualifications or experience that would be of value to the committee in considering any matter with which it is concerned.

F305

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.