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The Insolvency (Scotland) Amendment Rules 2003

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Citation and commencement

1.—(1) The Rules may be cited as the Insolvency (Scotland) Amendment Rules 2003 and shall come into force on 15th September 2003.

(2) References in these Rules to “the commencement date” are to the date referred to in paragraph (1) above.

Interpretation

2.—(1) In these Rules–

(a)references to the “principal Rules” are to the Insolvency (Scotland) Rules 1986(1) and a Rule referred to by number alone means the Rule so numbered in the principal Rules; and

(b)references to paragraphs, except where the context otherwise requires, are to paragraphs of Schedule B1 to the Insolvency Act 1986(2).

(2) These Rules shall be construed as one with the principal Rules.

Substitution of Part 2 of the principal Rules

3.  Subject to Rule 7 below, for Part 2 of the principal Rules substitute the provisions set out in Part 1 of Schedule 1 to these Rules.

Amendment to Schedule 4 of the principal Rules (Offences)

4.  Subject to Rule 7 below, in the table in Schedule 4 to the principal Rules, after the penultimate entry, insert:

In Part 2, Rule 2.43(3)Administrator failing to lodge notice of automatic end of administrationSummaryOne-fifth of the statutory maximumOne-fiftieth of the statutory maximum

Amendments to Schedule 5 to the principal Rules

5.  Subject to Rule 7 below, for the Forms 2.1 (Scot) to 2.13 (Scot) set out in Schedule 5 to the principal Rules, substitute Forms 2.1B (Scot) to 2.32B (Scot) as set out in Part 2 of Schedule 1 to these Rules.

Consequential amendments to the principal Rules

6.  Subject to Rule 7 below, Schedule 2 to these Rules (which makes consequential amendments to the principal Rules) shall have effect.

Transitional and savings provisions

7.—(1) Rules 3 to 6 of these Rules shall not apply, and Part 2 of, and Forms 2.1 (Scot) to 2.13 (Scot) set out in Schedule 5 to, the principal Rules as they had effect immediately before the coming into force of these Rules shall continue to have effect in relation to the administration of a company in respect of which the petition for an administration order was presented to the court before the commencement date.

(2) Rules 3 to 6 of these Rules shall not apply and Part 2 of, and Forms 2.1 (Scot) to 2.13 (Scot) set out in Schedule 5 to, the principal Rules as they had effect immediately before the coming into force of these Rules shall continue to have effect for the purposes of–

(a)section 249(2) of the Enterprise Act 2002; and

(b)the Financial Services and Markets Act 2000 (Administration Orders relating to Insurers) Order 2002(3).

NIGEL GRIFFITHS

Parliamentary Under-Secretary of State For Small Business and Enterprise

Department of Trade and Industry

8th August 2003

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