PART 3Amendments of subordinate legislation

The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013I111

1

Schedule 2 to the Collective Investment in Transferable Securities (Contractual Scheme) Regulations 201349 (co-ownership schemes: application of the Insolvency Act 1986 and the Insolvency (Northern Ireland) Order 1989) is amended as follows.

2

In Part 3 (table of applied provisions of the Insolvency Act 1986)—

a

in the entry for section 169 (supplementary powers (Scotland)), omit the words in the second column;

b

after the entry for section 246 insert—

Section 246ZD (power to assign certain causes of action)

c

in the entry for section 39050 (persons not qualified to act as insolvency practitioner), in the second column for the words from “unless” to the end substitute “unless at that time the person is fully authorised to act as an insolvency practitioner or partially authorised to act as an insolvency practitioner only in relation to companies.”; and

d

for the entry for sections for 390A to 391T51 (qualification and regulation of insolvency practitioners) substitute—

Section 390A (authorisation of insolvency practitioners)

Sections 391 to 391T (regulation of insolvency practitioners)

In these sections a reference to a company, except in a reference to creditors of a company, is to be read without modification by this Schedule52.

3

In Part 4 (table of applied provisions of the Insolvency (Northern Ireland) Order 1989) after the entry for Article 348 (acting as insolvency practitioner without qualification) insert—

Article 349 (persons not qualified to act as insolvency practitioner)

This Article is to be read as if for paragraph (2) there were substituted—

(2) A person is not qualified to act at any time as an insolvency practitioner in relation to a relevant scheme unless at that time the person is fully authorised to act as an insolvency practitioner or partially authorised to act as an insolvency practitioner only in relation to companies.

Article 349A (authorisation of insolvency practitioners)

Articles 350 to 350T (regulation of insolvency practitioners)

In these Articles a reference to a company, except in a reference to creditors of a company, is to be read without modification by this Schedule53.