Source: http://www.legislation.gov.uk/ukpga/1986/45/schedule/A1/part/III/crossheading/effect-on-creditors-etc
Timestamp: 2013-05-25 06:12:54
Document Index: 529161475

Matched Legal Cases: ['art. 3', 'art. 6', 'art. 6', 'art. 3', 'art. 3', 'art. 4', 'art. 2', 'art. 3', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 3', 'art. 3', 'art. 3', 'art. 2', 'art. 3', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 8', 'art. 5', 'art. 8', 'art. 8', 'art. 2', 'art. 4', 'art. 2', 'art. 2', 'art. 4', 'art. 3', 'art. 3', 'art. 2', 'art. 3', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 30', 'art. 2', 'art. 2', 'art. 2', 'art. 2']

Part III Effect on creditors, etc.Table of ContentsContentMore ResourcesPrevious: CrossheadingNext: CrossheadingPlain ViewPrint Options
Changes to legislation:There are outstanding changes not yet made by the legislation.gov.uk editorial team to Insolvency Act 1986. Any changes that have already been made by the team appear in the content and are referenced with annotations.Changes to LegislationRevised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.Changes and effects yet to be applied to :Changes and effectsThis section lists the changes and effects yet to be applied to the specific provision you are viewing.Third Group of Parts applied (with modifications) in part by S.I. 2012/3013 Sch. para. 1(2)(c)(3)-(7)Changes and effects yet to be applied to the whole Act, associated Parts and Chapters:Changes and effectsThis section lists the changes and effects yet to be applied to the whole Act, associated Parts and Chapters where applicable. This includes any insertions of whole new Parts, Chapters or provisions yet to be inserted into this Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing.Act applied in part (with modifications) by S.I. 2011/2866 Sch. 2Act excluded by 2010 asp 17 s. 106(7)(b)Act modified by 2011 c. 5 Sch. 10 para. 40 41Act modified by S.I. 2011/1301 rule 334Act power to modify conferred by 2011 c. 5 Sch. 10 para. 46Act power to modify conferred by 1991 c. 56 s. 23(2E)-(2G) (as inserted) by 2010 c. 29 Sch. 5 para. 3Blanket amendment words substituted by S.I. 2011/1043 art. 3 4Whole provisions yet to be inserted into this Act (including any effects on those provisions):s. 92A and heading added by S.I. 2010/18 art. 6(1)s. 104A and heading added by S.I. 2010/18 art. 6(3)s. 246A 246B and cross-headings inserted by S.I. 2010/18 art. 3(1)s. 379A 379B and cross-headings inserted by S.I. 2010/18 art. 3(2)s. 436B inserted by S.I. 2010/18 art. 4(1)Commencement Orders yet to be applied to the Insolvency Act 1986:Commencement OrdersThis section lists the commencement orders yet to be applied to the whole Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing. Where applicable the commencement orders are listed under two headings, firstly those that bring some part of the Act you are viewing into force and secondly, those that bring into force legislation that affects some part of the legislation you are viewing. If you are viewing a prospective version or there is a prospective version available there may be commencement orders listed here that are relevant to the provision you are viewing.Commencement Orders bringing legislation that affects this Act into force:S.I. 2003/192 art. 2 3 7 art. 3 Sch. commences (2000 c. 19)S.I. 2003/766 art. 2 Sch. commences (2002 c. 40)S.I. 2003/1397 art. 2(1) Sch. commences (2002 c. 40)S.I. 2003/1725 art. 2(1) commences (2002 c. 9)S.I. 2003/1900 art. 2(1) Sch. 1 art. 2(2) Sch. 2 commences (2003 c. 21)S.I. 2003/2093 art. 2(1) Sch. 1 commences (2002 c. 40)S.I. 2003/3142 art. 3(1) art. 3(2) 4(2) Sch. 1 2 commences (2003 c. 21)S.I. 2003/3340 art. 3 commences (2002 c. 40)S.I. 2004/3322 art. 2(3) Sch. 3 commences (2004 c. 27)S.I. 2005/910 art. 3(y) commences (2003 c. 39)S.I. 2005/3056 art. 2(2) commences (2003 c. 17)S.I. 2005/3175 art. 2(1) Sch. 1 commences (2004 c. 33)S.I. 2006/1014 art. 2(a) Sch. 1 para. 11(r) commences (2005 c. 4)S.I. 2007/1897 art. 2 commences (2005 c. 9)S.I. 2007/2194 art. 8 Sch. 2 commences (2006 c. 46)S.I. 2007/3495 art. 5 art. 8(b) Sch. 3 art. 8(a) Sch. 2 commences (2006 c. 46)S.I. 2008/1886 art. 2(f) commences (2006 c. 46)S.I. 2008/2860 art. 4 Sch. 1 commences (2006 c. 46)S.I. 2009/1604 art. 2 commences (2005 c. 4)S.I. 2010/862 art. 2 commences (2008 c. 17)S.I. 2010/2169 art. 4 Sch. commences (2010 c. 29)S.I. 2011/2329 art. 3 commences (2011 c. 5)S.I. 2012/1312 art. 3 commences (2007 c. 15)S.S.I. 2003/210 art. 2(b) Sch. commences (2002 c. 29)S.S.I. 2009/67 art. 3(1)(a) commences (2007 asp 3)S.S.I. 2010/249 art. 2 commences (2007 asp 3)S.S.I. 2012/39 art. 2 Sch. commences (2010 asp 17)[F1 Effect on creditors, etc.E+W+SAnnotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Amendments (Textual)F1Sch. A1 inserted (11.5.2001 so far as is necessary to give effect to Sch. A1 paras. 5, 45(1)-(3)(5) and 1.1.2003 in so far as not already in force) by 2000 c. 39, s. 1, Sch. 1 para. 4; S.I. 2001/1751, art. 2; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)F212(1)During the period for which a moratorium is in force for a company—E+W+S(a)no petition may be presented for the winding up of the company,(b)no meeting of the company may be called or requisitioned except with the consent of the nominee or the leave of the court and subject (where the court gives leave) to such terms as the court may impose,(c)no resolution may be passed or order made for the winding up of the company,[F3(d)no administration application may be made in respect of the company,(da)no administrator of the company may be appointed under paragraph 14 or 22 of Schedule B1,](e)no administrative receiver of the company may be appointed,(f)no landlord or other person to whom rent is payable may exercise any right of forfeiture by peaceable re-entry in relation to premises let to the company in respect of a failure by the company to comply with any term or condition of its tenancy of such premises, except with the leave of the court and subject to such terms as the court may impose,(g)no other steps may be taken to enforce any security over the company’s property, or to repossess goods in the company’s possession under any hire-purchase agreement, except with the leave of the court and subject to such terms as the court may impose, and(h)no other proceedings and no execution or other legal process may be commenced or continued, and no distress may be levied, against the company or its property except with the leave of the court and subject to such terms as the court may impose.(2)Where a petition, other than an excepted petition, for the winding up of the company has been presented before the beginning of the moratorium, section 127 shall not apply in relation to any disposition of property, transfer of shares or alteration in status made during the moratorium or at a time mentioned in paragraph 37(5)(a).(3)In the application of sub-paragraph (1)(h) to Scotland, the reference to execution being commenced or continued includes a reference to diligence being carried out or continued, and the reference to distress being levied is omitted.(4)Paragraph (a) of sub-paragraph (1) does not apply to an excepted petition and, where such a petition has been presented before the beginning of the moratorium or is presented during the moratorium, paragraphs (b) and (c) of that sub-paragraph do not apply in relation to proceedings on the petition.(5)For the purposes of this paragraph, “excepted petition” means a petition under—(a)section 124A [F4or 124B] of this Act,(b)section 72 of the M1Financial Services Act 1986 on the ground mentioned in subsection (1)(b) of that section, or(c)section 92 of the M2Banking Act 1987 on the ground mentioned in subsection (1)(b) of that section.[F5(d)section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in subsection (3)(b) of that section.]Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Amendments (Textual)F2Sch. A1 inserted (11.5.2001 so far as is necessary to give effect to Sch. A1 paras. 5, 45(1)-(3)(5) and 1.1.2003 in so far as not already in force) by 2000 c. 39, s. 1, Sch. 1 para. 4; S.I. 2001/1751, art. 2; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)F3Sch. A1 para. 12(1)(d)(da) substituted (15.9.2003) for Sch. A1 para. 12(1)(d) by 2002 c. 40, ss. 248(3), 279, Sch. 17 para. 37(3) (with s. 249(1)-(3)(6)); S.I. 2003/2093, art. 2(1), Sch. 1 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))F4Words in Sch. A1 para. 12(5)(a) inserted (8.10.2004) by The European Public Limited-Liability Company Regulations 2004 (S.I. 2004/2326), reg. 73(4)(b)F5Sch. A1 para. 12(5)(d) inserted (3.7.2002) by S.I. 2002/1555, art. 30Modifications etc. (not altering text)C1Sch. A1 para. 12(1)(g) excluded (26.12.2003) by The Financial Collateral Arrangements (No.2) Regulations 2003 (S.I. 2003/3226), reg. 8(5)C2Sch. A1 para. 12(1)(g) excluded by The Financial Market and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979), reg. 19(4) (as inserted (1.10.2009) by The Financial Markets and Insolvency (Settlement Finality) (Amendment) Regulations 2009 (S.I. 2009/1972), reg. 7(c))Marginal CitationsM11986 c. 60. M21987 c. 22. 13(1)This paragraph applies where there is an uncrystallised floating charge on the property of a company for which a moratorium is in force.E+W+S(2)If the conditions for the holder of the charge to give a notice having the effect mentioned in sub-paragraph (4) are met at any time, the notice may not be given at that time but may instead be given as soon as practicable after the moratorium has come to an end.(3)If any other event occurs at any time which (apart from this sub-paragraph) would have the effect mentioned in sub-paragraph (4), then—(a)the event shall not have the effect in question at that time, but(b)if notice of the event is given to the company by the holder of the charge as soon as is practicable after the moratorium has come to an end, the event is to be treated as if it had occurred when the notice was given.(4)The effect referred to in sub-paragraphs (2) and (3) is—(a)causing the crystallisation of the floating charge, or(b)causing the imposition, by virtue of provision in the instrument creating the charge, of any restriction on the disposal of any property of the company.(5)Application may not be made for leave under paragraph 12(1)(g) or (h) with a view to obtaining—(a)the crystallisation of the floating charge, or(b)the imposition, by virtue of provision in the instrument creating the charge, of any restriction on the disposal of any property of the company.Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Modifications etc. (not altering text)C3Sch. A1 inserted (11.5.2001 so far as is necessary to give effect to Sch. A1 paras. 5, 45(1)-(3)(5) and 1.1.2003 in so far as not already in force) by 2000 c. 39, s. 1, Sch. 1 para. 4; S.I. 2001/1751, art. 2; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)F614Security granted by a company at a time when a moratorium is in force in relation to the company may only be enforced if, at that time, there were reasonable grounds for believing that it would benefit the company.]E+W+SAnnotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Amendments (Textual)F6Sch. A1 inserted (11.5.2001 so far as is necessary to give effect to Sch. A1 paras. 5, 45(1)-(3)(5) and 1.1.2003 in so far as not already in force) by 2000 c. 39, s. 1, Sch. 1 para. 4; S.I. 2001/1751, art. 2; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)Previous: CrossheadingNext: CrossheadingBack to topOptions/HelpPrint OptionsPrint The Whole ActPDF The Whole ActWeb page The Whole ActPrint The Whole SchedulePDF The Whole ScheduleWeb page The Whole SchedulePrint The Whole PartPDF The Whole PartWeb page The Whole PartPrint This Cross Heading onlyPDF This Cross Heading onlyWeb page This Cross Heading onlyYou have chosen to open The Whole ActThe Whole Act you have selected contains over 200 provisions and might take some time to download. 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