- Statutory Instrument 2002 No. 1037
The Insolvency Act 1986 (Amendment) Regulations 2002
© Crown Copyright 2002
Statutory Instruments printed from this website are printed under the superintendence and authority of the Controller of HMSO being the Queen's Printer of Acts of Parliament.
The legislation contained on this web site is subject to Crown Copyright protection. It may be reproduced free of charge provided that it is reproduced accurately and that the source and copyright status of the material is made evident to users.
It should be noted that the right to reproduce the text of Statutory Instruments does not extend to the Queen's Printer imprints which should be removed from any copies of the Statutory Instrument which are issued or made available to the public. This includes reproduction of the Statutory Instrument on the Internet and on intranet sites. The Royal Arms may be reproduced only where they are an integral part of the original document.
The text of this Internet version of the Statutory Instrument which is published by the Queen's Printer of Acts of Parliament has been prepared to reflect the text as it was Made. A print version is also available and is published by The Stationery Office Limited as the The Insolvency Act 1986 (Amendment) Regulations 2002, ISBN 0 11 039851 3. The print version may be purchased by clicking here. Braille copies of this Statutory Instrument can also be purchased at the same price as the print edition by contacting TSO Customer Services on 0870 600 5522 or e-mail:customer.services@tso.co.uk.
Further information about the publication of legislation on this website can be found by referring to the Frequently Asked Questions.
To ensure fast access over slow connections, large documents have been segmented into "chunks". Where you see a "continue" button at the bottom of the page of text, this indicates that there is another chunk of text available.
| Made | 9th April 2002 | ||
| Laid before Parliament | 10th April 2002 | ||
| Coming into force | 3rd May 2002 |
The Secretary of State, being designated[1] for the purposes of section 2(2) of the European Communities Act 1972[2] in relation to insolvency, in exercise of the powers conferred upon her by that section, hereby makes the following Regulations:
Citation, commencement and interpretation
1. - (1) These Regulations may be cited as the Insolvency Act 1986 (Amendment) Regulations 2002 and shall come into force on 3rd May 2002.
(2) In these Regulations "the Act" means the Insolvency Act 1986 [3].
Amendments to the Insolvency Act 1986
2. The Act is amended as provided for in these Regulations.
Amendments to rule-making powers
3. - (1) In section 411(1) (Company insolvency rules) after "of this Act" insert "or the EC Regulation".
(2) After section 411(2) insert -
-
"
(2A) 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 EC Regulation (in so far as the provision of this Act relates to a matter to which the EC Regulation applies).
(2B) Rules under this section for the purpose of giving effect to the EC 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) In section 412(1) (Individual insolvency rules (England and Wales)) after "of this Act" insert "or the EC Regulation".
(4) After section 412(2) insert -
-
"
(2A) 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 EC Regulation (in so far as the provision of this Act relates to a matter to which the EC Regulation applies).
(2B) Rules under this section for the purpose of giving effect to the EC 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.".
(5) After section 420(1) (Insolvent partnerships) insert -
-
"
(1A) An order under this section may make provision in relation to the EC Regulation.
(1B) But provision made by virtue of this section in relation to the EC 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.".
(6) After section 421(1) (Insolvent estates of deceased persons) insert -
-
"
(1A) An order under this section may make provision in relation to the EC Regulation.
(1B) But provision made by virtue of this section in relation to the EC 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.".
Amendments to definitions
4.
In section 436 (Expressions used generally) before "modifications" insert -
-
"
"the EC Regulation" means Council Regulation (EC) No. 1346/2000;".
Patricia Hewitt,
Secretary of State for Trade and Industry
9th April 2002
(This note is not part of the Regulations)
These Regulations amend the Insolvency Act 1986 (c.45) to extend existing rule-making powers under the Act to allow for making rules which are required as a result of the adoption by the Council of the European Union of Council Regulation (EC) No. 1346/2000 of 29th May 2000 on insolvency proceedings, Official Journal No. L160, 30.06.00. p.1 (the "Regulation") which comes into force on 31st May 2002. As a result of making these amendments, rules made under the amended sections 411 and 412 of the Insolvency Act 1986 in relation to the Regulation, will, like rules presently made under the Act, need to be reviewed by the Insolvency Rules Committee. The Insolvency Rules Committee is consulted by the Lord Chancellor prior to making insolvency rules and consists of judges and practising insolvency professionals (specified in section 413).
The Regulations also amend the powers in the Insolvency Act 1986 to apply insolvency legislation to insolvent partnerships (section 420) and to the insolvent estates of deceased persons (section 421) to allow provision to be made in relation to the Regulation.
The text of the Regulation is available on the Insolvency Service website, the address of which is www.insolvency.gov.uk.
Notes:
[1] S.I. 2001/3495.back
[2] 1972 c. 68. The Secretary of State was designated by the European Communities (Designation) (No. 3) Order 2001. S.I. 2001/3495.back
[3] 1986 c. 45; section 421(1) was amended by the Insolvency Act 2000 (c.39), section 12(2).back
ISBN 0 11 039851 3