Insolvency Act 2000
2000 CHAPTER 39
ARRANGEMENT OF SECTIONS
Go to Preamble
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Voluntary arrangements
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1. Moratorium where directors propose voluntary arrangement.
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2. Company voluntary arrangements.
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3. Individual voluntary arrangements.
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4. Qualification or authorisation of nominees and supervisors.
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Disqualification of company directors etc.
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5. Disqualification orders.
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6. Disqualification undertakings.
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7. Effect of Northern Irish disqualifications.
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8. Amendments.
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Miscellaneous
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9. Administration orders.
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10. Investigation and prosecution of malpractice.
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11. Restriction on use of answers obtained under compulsion.
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12. Insolvent estates of deceased persons.
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13. Bankruptcy: interest on sums held in Insolvency Services Account.
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14. Model law on cross-border insolvency.
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General
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15. Amendments of Financial Services and Markets Act 2000 and repeals.
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16. Commencement.
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17. Extent.
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18. Short title.
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Schedules:
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Schedule 1
Moratorium where directors propose voluntary arrangement.
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Amendments of the Insolvency Act 1986
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Schedule 2
Company voluntary arrangements.
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Part I
Amendments of the Insolvency Act 1986.
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Part II
Amendments of the Building Societies Act 1986.
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Schedule 3
Individual voluntary arrangements.
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Schedule 4
Minor and consequential amendments about disqualification of company directors etc..
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Part I
Amendments of the Company Directors Disqualification Act 1986.
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Part II
Consequential amendments of other enactments.
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Schedule 5
Repeals.
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An Act to amend the law about insolvency; to amend the Company Directors Disqualification Act 1986; and for connected purposes.
[30th November 2000]
Be it enacted by the Queen´s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:–
Voluntary arrangements
1 Moratorium where directors propose voluntary arrangement
Schedule 1 (which–
(a) enables the directors of a company to obtain an initial moratorium for the company where they propose a voluntary arrangement under Part I of the [1986 c. 45.] Insolvency Act 1986,
(b) makes provision about the approval and implementation of such a voluntary arrangement where a moratorium is obtained, and
(c) makes consequential amendments),
is to have effect.
2 Company voluntary arrangements
Schedule 2 (which–
(a) amends the provisions about company voluntary arrangements under Part I of the [1986 c. 45.] Insolvency Act 1986, and
(b) in consequence of Schedule 1 and those amendments, makes amendments of the [1986 c. 53.] Building Societies Act 1986),
is to have effect.
3 Individual voluntary arrangements
Schedule 3 (which enables the procedure for the approval of individual voluntary arrangements under Part VIII of the [1986 c. 45.] Insolvency Act 1986 to be started without an initial moratorium for the insolvent debtor and makes other amendments of the provisions about individual voluntary arrangements) is to have effect.
4 Qualification or authorisation of nominees and supervisors
(1) Part XIII of the [1986 c. 45.] Insolvency Act 1986 (insolvency practitioners and their qualification) is amended as follows.
(2) In section 388 (meaning of "act as insolvency practitioner")–
(a) for subsection (1)(b) there is substituted–
"(b) where a voluntary arrangement in relation to the company is proposed or approved under Part I, as nominee or supervisor",
(b) for subsection (2)(c)…