Insolvency Act 2000 (Version in vigour from 2018-08-30 to )
Currency | No known outstanding effects |
Coming into Force | 30 August 2018 |
(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 (b) makes provision about the approval and implementation of such a voluntary arrangement where a moratorium is obtained, and(c) makes consequential amendments) ,(a) amends the provisions about company voluntary arrangements under Part I of the (b) in consequence of Schedule 1 and those amendments, makes amendments of the Schedule 3 (which enables the procedure for the approval of individual voluntary arrangements under Part VIII of the
(1) Part XIII of the for subsection (1) (b) there is substituted—“ and, unless the court otherwise orders, the period of disqualification so imposed shall begin at the end of the period of 21 days beginning with the date of the order ” .(3) In section 22 of that Act (interpretation) , at the end there is inserted—
- (b) where a voluntary arrangement in relation to the company is proposed or approved under Part I, as nominee or supervisor
- (c) where a voluntary arrangement in relation to the individual is proposed or approved under Part VIII, as nominee or supervisor
- “(2B) In relation to a voluntary arrangement proposed under Part I or VIII, a person acts as nominee if he performs any of the functions conferred on nominees under the Part in question.
- “(10) Any reference to acting as receiver—
- (a) includes acting as manager or as both receiver and manager, but
- (b) does not include acting as administrative receiver; and “receivership” is to be read accordingly.
- “(1) In the circumstances specified in sections 7 and 8 the Secretary of State may accept a disqualification undertaking, that is to say an undertaking by any person that, for a period specified in the undertaking, the person—
- (a) will not be a director of a company, act as receiver of a company’s property or in any way, whether directly or indirectly, be concerned or take part in the promotion, formation or management of a company unless (in each case) he has the leave of a court, and
- (b) will not act as an insolvency practitioner.
- “(2A) If it appears to the Secretary of State that the conditions mentioned in section 6(1) are satisfied as respects any person who has offered to give him a disqualification undertaking, he may accept the undertaking if it appears to him that it is expedient in the public interest that he should do so (instead of applying, or proceeding with an application, for a disqualification order) .
- “(2A) Where it appears to the Secretary of State from such report, information or documents that, in...
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