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  1. Introductory Text

  2. PART I INTRODUCTORY

    1. 1.Title and commencement

    2. 2.General interpretation

    3. 3.“Act as insolvency practitioner”

    4. 4.“Associate”

    5. Interpretation for Parts II to VII

      1. 5.Interpretation

      2. 6.“Insolvency” and “go into liquidation”

      3. 7.“Connected with a company”

      4. 8.“Member of a company”

    6. Interpretation for Parts VIII to X

      1. 9.Interpretation

      2. 10.“Security”, etc.

      3. 11.“Bankrupt’s estate”

    7. Interpretation for this Order and the Companies Order

      1. 12.“Receiver or manager”

      2. 13.“Contributory”

  3. PARTS II TO VII

    COMPANY INSOLVENCY; COMPANIES WINDING UP

    1. PART II COMPANY VOLUNTARY ARRANGEMENTS

      1. The proposal

        1. 14.Those who may propose an arrangement

        2. 15.Procedure where nominee is not the liquidator or administrator

        3. 16.Summoning of meetings

      2. Consideration and implementation of proposal

        1. 17.Decisions of meetings

        2. 18.Effect of approval

        3. 19.Challenge of decisions

        4. 20.Implementation of proposal

    2. PART III ADMINISTRATION ORDERS

      1. Making, etc., of administration order

        1. 21.Power of High Court to make order

        2. 22.Application for order

        3. 23.Effect of application

        4. 24.Effect of order

        5. 25.Notification of order

      2. Administrators

        1. 26.Appointment of administrator

        2. 27.General powers

        3. 28.Power to deal with charged property, etc.

        4. 29.General duties

        5. 30.Discharge or variation of administration order

        6. 31.Vacation of office

        7. 32.Release of administrator

      3. Ascertainment and investigation of company’s affairs

        1. 33.Information to be given by administrator

        2. 34.Statement of affairs to be submitted to administrator

      4. Administrator’s proposals

        1. 35.Statement of proposals

        2. 36.Consideration of proposals by creditors' meeting

        3. 37.Approval of substantial revisions

      5. Miscellaneous

        1. 38.Creditors' committee

        2. 39.Protection of interests of creditors and members

    3. PART IV RECEIVERSHIPRECEIVERS AND MANAGERS

      1. General Provisions

        1. 40.Disqualification of body corporate from acting as receiver

        2. 41.Disqualification of undischarged bankrupt

        3. 42.Power of High Court to appoint official receiver

      2. Receivers and managers appointed out of court

        1. 43.Time from which appointment is effective

        2. 44.Liability for invalid appointment

        3. 45.Application to High Court for directions

        4. 46.Power of High Court to fix remuneration

        5. 47.Liability for contracts, etc.

        6. 48.Receivership accounts to be delivered to registrar

      3. Provisions applicable to every receivership

        1. 49.Notification that receiver or manager appointed

        2. 50.Payment of debts out of assets subject to floating charge

        3. 51.Enforcement of duty to make returns

      4. Administrative receivers: general

        1. 52.General powers

        2. 53.Power to dispose of charged property, etc.

        3. 54.Agency and liability for contracts

        4. 55.Vacation of office

      5. Administrative receivers: ascertainment and investigation of company’s affairs

        1. 56.Information to be given by administrative receiver

        2. 57.Statement of affairs to be submitted

        3. 58.Report by administrative receiver

        4. 59.Committee of creditors

    4. PART V WINDING UP OF COMPANIES REGISTERED UNDER THE COMPANIES ORDERS

      1. CHAPTER I PRELIMINARY

        1. Modes of winding up

          1. 60.Alternative modes of winding up

        2. Contributories

          1. 61.Liability as contributories of present and past members

          2. 62.Directors with unlimited liability

          3. 63.Liability of past directors and shareholders

          4. 64.Limited company formerly unlimited

          5. 65.Unlimited company formerly limited

          6. 66.Nature of contributory’s liability

          7. 67.Contributories in case of death of a member

          8. 68.Effect of contributory’s bankruptcy

          9. 69.Companies registered under Companies Order, Part XXII, Chapter II

      2. CHAPTER II VOLUNTARY WINDING UP (INTRODUCTORY AND GENERAL)

        1. Resolutions for, and commencement of, voluntary winding up

          1. 70.Circumstances in which company may be wound up voluntarily

          2. 71.Notice of resolution to wind up voluntarily

          3. 72.Commencement of voluntary winding up

        2. Consequences of resolution to wind up

          1. 73.Effect on business and status of company

          2. 74.Avoidance of share transfers, etc., after winding-up resolution

        3. Declaration of solvency

          1. 75.Statutory declaration of solvency

          2. 76.Distinction between “members'” and “creditors'” voluntary winding up

      3. CHAPTER III MEMBERS' VOLUNTARY WINDING UP

        1. 77.Appointment of liquidator

        2. 78.Power to fill vacancy in office of liquidator

        3. 79.General company meeting at each year’s end

        4. 80.Final meeting prior to dissolution

        5. 81.Effect of company’s insolvency

        6. 82.Conversion to creditors' voluntary winding up

      4. CHAPTER IV CREDITORS' VOLUNTARY WINDING UP

        1. 83.Application of this Chapter

        2. 84.Meeting of creditors

        3. 85.Directors to lay statement of affairs before creditors

        4. 86.Appointment of liquidator

        5. 87.Appointment of liquidation committee

        6. 88.Creditors' meeting where winding up converted under Article 82

        7. 89.Cesser of directors' powers

        8. 90.Vacancy in office of liquidator

        9. 91.Meetings of company and creditors at each year’s end

        10. 92.Final meeting prior to dissolution

      5. CHAPTER V PROVISIONS APPLYING TO BOTH KINDS OF VOLUNTARY WINDING UP

        1. 93.Distribution of company’s property

        2. 94.Appointment or removal of liquidator by the High Court

        3. 95.Notice by liquidator of his appointment

        4. 96.Acceptance of shares, etc., as consideration for sale of company’s property

        5. 97.Dissent from arrangement under Article 96

        6. 98.Reference of questions to the High Court

        7. 99.No liquidator appointed or nominated by company

        8. 100.Expenses of voluntary winding up

        9. 101.Saving for certain rights

      6. CHAPTER VI WINDING UP BY THE HIGH COURT

        1. Grounds and effect of winding-up petition

          1. 102.Circumstances in which company may be wound up by the High Court

          2. 103.Definition of inability to pay debts; the statutory demand

          3. 104.Application for winding up

          4. 105.Powers of High Court on hearing of petition

          5. 106.Power to stay or restrain proceedings against company

          6. 107.Avoidance of property dispositions, etc.

          7. 108.Avoidance of sequestration or distress

        2. Commencement of winding up

          1. 109.Commencement of winding up by the High Court

          2. 110.Consequences of winding-up order

        3. Investigation procedures

          1. 111.Company’s statement of affairs

          2. 112.Investigation by official receiver

          3. 113.Public examination of officers

          4. 114.Enforcement of Article 113

        4. Appointment of liquidator

          1. 115.Appointment and powers of provisional liquidator

          2. 116.Functions of official receiver in relation to office of liquidator

          3. 117.Appointment by Department

          4. 118.Choice of liquidator at meetings of creditors and contributories

          5. 119.Appointment by the High Court following administration or voluntary arrangement

        5. Liquidation committees

          1. 120.Liquidation committee

        6. The liquidator’s functions

          1. 121.General functions in winding up by the High Court

          2. 122.Custody of company’s property

          3. 123.Vesting of company property in liquidator

          4. 124.Duty to summon final meeting

        7. General powers of High Court

          1. 125.Power to stay winding up

          2. 126.Settlement of list of contributories and application of assets

          3. 127.Debts due from contributory to company

          4. 128.Power to make calls

          5. 129.Payment into bank of money due to company

          6. 130.Order on contributory to be conclusive evidence

          7. 131.Power to exclude creditors not proving in time

          8. 132.Adjustment of rights of contributories

          9. 133.Inspection of books by creditors, etc.

          10. 134.Payment of expenses of winding up

          11. 135.Power to arrest absconding contributory

          12. 136.Powers of High Court to be cumulative

          13. 137.Delegation of powers to liquidator

      7. CHAPTER VII LIQUIDATORS

        1. Preliminary

          1. 138.Style and title of liquidators

          2. 139.Corrupt inducement affecting appointment

        2. Liquidator’s powers and duties

          1. 140.Voluntary winding up

          2. 141.Creditors' voluntary winding up

          3. 142.Winding up by the High Court

          4. 143.Supplementary powers

          5. 144.Enforcement of liquidator’s duty to make returns, etc.

        3. Removal: vacation of office

          1. 145.Removal, etc. (voluntary winding up)

          2. 146.Removal, etc. (winding up by the High Court)

        4. Release of liquidator

          1. 147.Release (voluntary winding up)

          2. 148.Release (winding up by the High Court)

      8. CHAPTER VIII PROVISIONS OF GENERAL APPLICATION IN WINDING UP

        1. Preferential debts

          1. 149.Preferential debts (general provision)

          2. 150.Preferential charge on goods distrained

        2. Special managers

          1. 151.Power to appoint special manager

        3. Disclaimer

          1. 152.Power to disclaim onerous property

          2. 153.Disclaimer of leaseholds

          3. 154.Land subject to rentcharge

          4. 155.Powers of High Court (general)

          5. 156.Powers of High Court (leaseholds)

        4. Miscellaneous matters

          1. 157.Rescission of contracts by the High Court

          2. 158.Power to make over assets to employees

          3. 159.Notification that company is in liquidation

          4. 160.Interest on debts

          5. 161.Company’s books to be evidence

          6. 162.Information as to pending liquidations

          7. 163.Resolutions passed at adjourned meetings

          8. 164.Meeting to ascertain wishes of creditors or contributories

          9. 165.Affidavits, etc., in United Kingdom and elsewhere

      9. CHAPTER IX DISSOLUTION OF COMPANIES AFTER WINDING UP

        1. 166.Dissolution (voluntary winding up)

        2. 167.Early dissolution

        3. 168.Consequence of notice under Article 167

        4. 169.Dissolution otherwise than under Article 167

      10. CHAPTER X MALPRACTICE BEFORE AND DURING LIQUIDATION; PENALISATION OF COMPANIES AND COMPANY OFFICERS; INVESTIGATIONS AND PROSECUTIONS

        1. Offences of fraud, deception, etc.

          1. 170.Fraud, etc., in anticipation of winding up

          2. 171.Transactions in fraud of creditors

          3. 172.Misconduct in course of winding up

          4. 173.Falsification of company’s books

          5. 174.Material omissions from statement relating to company’s affairs

          6. 175.False representations to creditors

        2. Penalisation of directors and officers

          1. 176.Summary remedy against delinquent directors, liquidators, etc.

          2. 177.Fraudulent trading

          3. 178.Wrongful trading

          4. 179.Proceedings under Articles 177 and 178

          5. 180.Restriction on re-use of company names

          6. 181.Personal liability for debts, following contravention of Article 180

        3. Investigation and prosecution of malpractice

          1. 182.Prosecution of delinquent officers and members of company

          2. 183.Obligations arising under Article 182

    5. PART VI WINDING UP OF UNREGISTERED COMPANIES

      1. 184.Meaning of “unregistered company”

      2. 185.Winding up of unregistered companies

      3. 186.Inability to pay debts: unpaid creditor for £750 or more

      4. 187.Inability to pay debts: debt remaining unsatisfied after action brought

      5. 188.Inability to pay debts: other cases

      6. 189.Company incorporated outside Northern Ireland may be wound up though dissolved

      7. 190.Contributories in winding up of unregistered company

      8. 191.Power of High Court to stay or restrain proceedings

      9. 192.Actions stayed on winding-up order

      10. 193.Provisions of this Part to be cumulative

    6. PART VII MISCELLANEOUS PROVISIONS APPLYING TO COMPANIES WHICH ARE INSOLVENT OR IN LIQUIDATION

      1. Office-holders

        1. 194.Holders of office to be qualified insolvency practitioners

        2. 195.Appointment to office of two or more persons

        3. 196.Validity of office-holder’s acts

      2. Management by administrators, liquidators, etc.

        1. 197.Supplies of water, electricity, etc.

        2. 198.Getting in the company’s property

        3. 199.Duty to co-operate with office-holder

        4. 200.Inquiry into company’s dealings, etc.

        5. 201.High Court’s enforcement powers under Article 200

      3. Adjustment of prior transactions (administration and liquidation)

        1. 202.Transactions at an undervalue

        2. 203.Preferences

        3. 204.“Relevant time” under Articles 202, 203

        4. 205.Orders under Articles 202, 203

        5. 206.Extortionate credit transactions

        6. 207.Avoidance of certain floating charges

        7. 208.Unenforceability of liens on books, etc.

  4. PARTS VIII TO X

    INSOLVENCY OF INDIVIDUALS; BANKRUPTCY

    1. PART VIII INDIVIDUAL VOLUNTARY ARRANGEMENTS

      1. CHAPTER I DEEDS OF ARRANGEMENT

        1. 209.Deeds of arrangement to which this Chapter applies

        2. Registration of deeds of arrangement

          1. 210.Registrar and deputy registrar

          2. 211.Mode of registration

          3. 212.Form of register

          4. 213.Rectification of register

        3. Avoidance of deeds of arrangement

          1. 214.Avoidance of unregistered deeds of arrangement

          2. 215.Avoidance of deeds of arrangement unless assented to by a majority of the creditors

          3. 216.Deeds otherwise void or voidable

        4. Provisions as to trustees

          1. 217.Notice to creditors of avoidance of deed

          2. 218.Trustee acting when deed of arrangement void

          3. 219.Protection of trustees under void deeds

          4. 220.Payment of expenses incurred by trustees

          5. 221.Security by trustee

          6. 222.Transmission of accounts

          7. 223.Preferential payment to creditor

        5. Miscellaneous

          1. 224.Applications to the High Court

          2. 225.Inspection of register, etc., certified copies and evidence

      2. CHAPTER II VOLUNTARY ARRANGEMENTS

        1. Moratorium for insolvent debtor

          1. 226.Interim order of High Court

          2. 227.Application for interim order

          3. 228.Effect of application

          4. 229.Cases in which interim order can be made

          5. 230.Nominee’s report on debtor’s proposal

          6. 231.Summoning of creditors' meeting

        2. Consideration and implementation of debtor’s proposal

          1. 232.Decisions of creditors' meeting

          2. 233.Report of decisions to High Court

          3. 234.Effect of approval

          4. 235.Effect where debtor an undischarged bankrupt

          5. 236.Challenge of meeting’s decision

          6. 237.Implementation and supervision of approved voluntary arrangement

    2. PART IX BANKRUPTCY

      1. CHAPTER I BANKRUPTCY PETITIONS; BANKRUPTCY ORDERS

        1. Preliminary

          1. 238.Who may present a bankruptcy petition

          2. 239.Conditions to be satisfied in respect of debtor

          3. 240.Other preliminary conditions

        2. Creditor’s petition

          1. 241.Grounds of creditor’s petition

          2. 242.Definition of “inability to pay”, etc.; the statutory demand

          3. 243.Creditor with security

          4. 244.Expedited petition

          5. 245.Proceedings on creditor’s petition

        3. Debtor’s petition

          1. 246.Grounds of debtor’s petition

          2. 247.Appointment of insolvency practitioner by the High Court

          3. 248.Action on report of insolvency practitioner

          4. 249.Summary administration

        4. Other cases for special consideration

          1. 250.Default in connection with voluntary arrangement

          2. 251.Petition in respect of a solicitor

        5. Commencement and duration of bankruptcy; discharge

          1. 252.Commencement and continuance

          2. 253.Duration

          3. 254.Discharge by order of the High Court

          4. 255.Effect of discharge

          5. 256.Power of High Court to annul bankruptcy order

      2. CHAPTER II PROTECTION OF BANKRUPT'S ESTATE AND INVESTIGATION OF HIS AFFAIRS

        1. 257.Restrictions on dispositions of property

        2. 258.Restriction on proceedings and remedies

        3. 259.Power to appoint interim receiver

        4. 260.Receivership pending appointment of trustee

        5. 261.Statement of affairs

        6. 262.Investigatory duties of official receiver

        7. 263.Public examination of bankrupt

        8. 264.Duties of bankrupt in relation to official receiver

      3. CHAPTER III TRUSTEES IN BANKRUPTCY

        1. Tenure of office as trustee

          1. 265.Power to make appointments

          2. 266.Summoning of meeting to appoint first trustee

          3. 267.Power of creditors to requisition meeting

          4. 268.Failure of meeting to appoint trustee

          5. 269.Appointment of trustee by Department

          6. 270.Special cases

          7. 271.Removal of trustee; vacation of office

          8. 272.Release of trustee

          9. 273.Vacancy in office of trustee

        2. Control of trustee

          1. 274.Creditors' committee

          2. 275.Exercise by Department of functions of creditors' committee

          3. 276.General control of trustee by the High Court

          4. 277.Liability of trustee

      4. CHAPTER IV ADMINISTRATION BY TRUSTEE

        1. Preliminary

          1. 278.General functions of trustee

        2. Acquisition, control and realisation of bankrupt’s estate

          1. 279.Vesting of bankrupt’s estate in trustee

          2. 280.After-acquired property

          3. 281.Vesting in trustee of certain items of excess value

          4. 282.Time-limit for notice under Article 280 or 281

          5. 283.Income payments orders

          6. 284.Acquisition by trustee of control

          7. 285.Obligation to surrender control to trustee

          8. 286.Charge on bankrupt’s home

          9. 287.Powers of trustee

        3. Disclaimer of onerous property

          1. 288.Disclaimer (general power)

          2. 289.Notice requiring trustee’s decision

          3. 290.Disclaimer of leaseholds

          4. 291.Disclaimer of dwelling house

          5. 292.Disclaimer of land subject to rentcharge

          6. 293.High Court order vesting disclaimed property

          7. 294.Order under Article 293 in respect of leaseholds

        4. Distribution of bankrupt’s estate

          1. 295.Proof of debts

          2. 296.Mutual credit and set-off

          3. 297.Distribution by means of dividend

          4. 298.Claims by unsatisfied creditors

          5. 299.Distribution of property in specie

          6. 300.Priority of debts

          7. 301.Preferential charge on goods distrained

          8. 302.Debts to spouse

          9. 303.Final distribution

          10. 304.Final meeting

          11. 305.Saving for bankrupt’s home

        5. Supplemental

          1. 306.Duties of bankrupt in relation to trustee

          2. 307.Stay of distribution in case of second bankruptcy

          3. 308.Adjustment between earlier and later bankruptcy estates

      5. CHAPTER V EFFECT OF BANKRUPTCY ON CERTAIN RIGHTS, TRANSACTIONS, ETC.

        1. Rights of occupation

          1. 309.Rights of occupation, etc., of bankrupt’s spouse

          2. 310.Rights of occupation of bankrupt

          3. 311.Payments in respect of premises occupied by bankrupt

        2. Adjustment of prior transactions, etc.

          1. 312.Transactions at an undervalue

          2. 313.Preferences

          3. 314.“Relevant time” under Articles 312, 313

          4. 315.Orders under Articles 312, 313

          5. 316.Extortionate credit transactions

          6. 317.Avoidance of general assignment of book debts

          7. 318.Contracts to which bankrupt is a party

          8. 319.Apprenticeships, etc.

          9. 320.Unenforceability of liens on books, etc.

      6. CHAPTER VI BANKRUPTCY OFFENCES

        1. Preliminary

          1. 321.Scheme of this Chapter

          2. 322.Definitions for the purposes of this Chapter

          3. 323.Defence of innocent intention

        2. Wrongdoing by the bankrupt before and after bankruptcy

          1. 324.Non-disclosure

          2. 325.Concealment of property

          3. 326.Concealment of books and papers; falsification

          4. 327.False statements

          5. 328.Fraudulent disposal of property

          6. 329.Absconding

          7. 330.Fraudulent dealing with property obtained on credit

          8. 331.Obtaining credit; engaging in business

          9. 332.Failure to keep proper accounts of business

          10. 333.Gambling

      7. CHAPTER VII POWERS OF HIGH COURT IN BANKRUPTCY

        1. 334.General control of High Court

        2. 335.Power of arrest

        3. 336.Seizure of bankrupt’s property

        4. 337.Inquiry into bankrupt’s dealings and property

        5. 338.High Court’s enforcement powers under Article 337

        6. 339.Provision corresponding to Article 337, where interim receiver appointed

        7. 340.Order for production of documents by Inland Revenue

        8. 341.Power to appoint special manager

        9. 342.Re-direction of bankrupt’s letters, etc.

    3. PART X INDIVIDUAL INSOLVENCY: GENERAL PROVISIONS

      1. 343.Supplies of water, electricity, etc.

      2. 344.Time-limits

      3. 345.Formal defects

  5. PARTS XI TO XIV

    MISCELLANEOUS MATTERS BEARING ON BOTH COMPANY AND INDIVIDUAL INSOLVENCY

    1. PART XI PREFERENTIAL DEBTS IN COMPANY AND INDIVIDUAL INSOLVENCY

      1. 346.Categories of preferential debts

      2. 347.“The relevant date”

    2. PART XII INSOLVENCY PRACTITIONERS AND THEIR QUALIFICATION

      1. Restrictions on unqualified persons acting as liquidator, trustee in bankruptcy, etc.

        1. 348.Acting as insolvency practitioner without qualification

      2. The requisite qualification, and the means of obtaining it

        1. 349.Persons not qualified to act as insolvency practitioners

        2. 350.Recognised professional bodies

        3. 351.Authorisation by competent authority

        4. 352.Grant, refusal and withdrawal of authorisation

        5. 353.Notices

        6. 354.Right to make representations

    3. PART XIII PUBLIC ADMINISTRATION

      1. Official receivers

        1. 355.Appointment, etc., of official receivers

        2. 356.Functions and status of official receivers

        3. 357.Deputy official receivers

      2. Insolvency Account

        1. 358.Insolvency Account

      3. Insolvency rules

        1. 359.Insolvency rules

        2. 360.Committee to review rules under Article 359

      4. Fees

        1. 361.Fees orders

      5. Specification, increase and reduction of money sums relevant in the operation of this Order

        1. 362.Monetary limits

      6. Insolvency practice

        1. 363.Regulations for purposes of Part XII

      7. Other order-making powers

        1. 364.Insolvent partnerships

        2. 365.Insolvent estates of deceased persons

        3. 366.Recognised banks, etc.

    4. PART XIV MISCELLANEOUS

      1. Provisions against debt avoidance

        1. 367.Transactions defrauding creditors

        2. 368.Those who may apply for an order under Article 367

        3. 369.Provision which may be made by order under Article 367

      2. Disqualifications, reviews and reports

        1. 370.Northern Ireland Assembly disqualification

        2. 371.Review, etc., by High Court of its orders

        3. 372.Annual report

      3. Legal proceedings

        1. 373.Prosecution and punishment of offences

        2. 374.Summary proceedings

        3. 375.Admissibility in evidence of statements of affairs, etc.

      4. Supplemental

        1. 376.Judicial notice of court documents

        2. 377.Exemption from stamp duty

        3. 378.Crown application

        4. 379.Transitional provisions and savings

        5. 380.Amendments of Industrial Relations (Northern Ireland) Order 1976

        6. 381.Other amendments

        7. 382.Repeals

  6. Signature

  7. SCHEDULES

    1. SCHEDULE 1

      POWERS OF ADMINISTRATOR OR ADMINISTRATIVE RECEIVER

      1. 1.Power to take possession of, collect and get in the...

      2. 2.Power to sell or otherwise dispose of the company’s property,...

      3. 3.Power to make, on such terms and conditions as he...

      4. 4.Power to raise or borrow money and grant security therefor...

      5. 5.Power to appoint a solicitor or accountant or other professionally...

      6. 6.Power to bring or defend any action or other legal...

      7. 7.Power to refer to arbitration any question affecting the company....

      8. 8.Power to effect and maintain insurances in respect of the...

      9. 9.Power to use the company’s seal.

      10. 10.Power to do all acts and to execute in the...

      11. 11.Power to draw, accept, make and endorse any bill of...

      12. 12.Power to appoint any agent to do any business which...

      13. 13.Power to do all such things (including the carrying out...

      14. 14.Power to make any payment which is necessary or incidental...

      15. 15.Power to carry on the business of the company.

      16. 16.Power to establish subsidiaries of the company.

      17. 17.Power to transfer to subsidiaries of the company the whole...

      18. 18.Power to grant or accept a surrender of a lease...

      19. 19.Power to make any arrangement or compromise on behalf of...

      20. 20.Power to call up any uncalled capital of the company....

      21. 21.Power to rank and claim in the bankruptcy, insolvency or...

      22. 22.Power to present or defend a petition for the winding...

      23. 23.Power to change the situation of the company’s registered office....

      24. 24.Power to do all other things incidental to the exercise...

    2. SCHEDULE 2

      POWERS OF LIQUIDATOR IN A WINDING UP

      1. PART I POWERS EXERCISABLE WITH SANCTION

        1. 1.Power to pay any class of creditors in full.

        2. 2.Power to make any compromise or arrangement with creditors or...

        3. 3.Power to compromise, on such terms as may be agreed—...

      2. PART II POWERS EXERCISABLE WITHOUT SANCTION IN VOLUNTARY WINDING UP, WITH SANCTION IN WINDING UP BY THE HIGH COURT

        1. 4.Power to bring or defend any action or other legal...

        2. 5.Power to carry on the business of the company so...

      3. PART III POWERS EXERCISABLE WITHOUT SANCTION IN ANY WINDING UP

        1. 6.Power to sell any part of the company’s property, including...

        2. 7.Power to make, on such terms and conditions as the...

        3. 8.Power to do all acts and execute, in the name...

        4. 9.Power to prove, rank and claim in the bankruptcy or...

        5. 10.Power to draw, accept, make and endorse any bill of...

        6. 11.Power to raise on the security of the assets of...

        7. 12.(1) Power to take out in his official name letters...

        8. 13.Power to appoint an agent to do any business which...

        9. 14.Power to do all such other things as may be...

    3. SCHEDULE 3

      POWERS OF TRUSTEE IN BANKRUPTCY

      1. PART I POWERS EXERCISABLE WITH SANCTION

        1. 1.Power to carry on any business of the bankrupt so...

        2. 2.Power to bring, institute or defend any action or legal...

        3. 3.Power to accept as the consideration for the sale of...

        4. 4.Power to mortgage or pledge any part of the property...

        5. 5.Power, where any right, option or other power forms part...

        6. 6.Power to refer to arbitration, or compromise on such terms...

        7. 7.Power to make such compromise or other arrangement as may...

        8. 8.Power to make such compromise or other arrangement as may...

      2. PART II POWERS EXERCISABLE WITHOUT SANCTION

        1. 9.Power to sell any part of the property for the...

        2. 10.Power to make, on such terms and conditions as the...

        3. 11.Power to give receipts for any money received by him,...

        4. 12.Power to prove, rank, claim and draw a dividend in...

        5. 13.Power to exercise in relation to any property comprised in...

        6. 14.Power to deal with any property comprised in the estate...

      3. PART III ANCILLARY POWERS

        1. 15.For the purposes of, or in connection with, the exercise...

    4. SCHEDULE 4

      THE CATEGORIES OF PREFERENTIAL DEBTS

      1. Category 1: Debts due to Inland Revenue

        1. 1.(1) Sums due at the relevant date from the debtor...

        2. 2.Sums due at the relevant date from the debtor in...

      2. Category 2: Debts due to Customs and Excise

        1. 3.(1) Any value added tax which is referable to the...

        2. 4.The amount of any car tax which is due at...

        3. 5.Any amount which is due— (a) by way of general...

      3. Category 3: Social security contributions

        1. 6.All sums which on the relevant date are due from...

        2. 7.All sums which on the relevant date have been assessed...

      4. Category 4: Contributions to occupational pension schemes, etc.

        1. 8.Any sum which is owed by the debtor and is...

      5. Category 5: Remuneration, etc., of employees

        1. 9.So much of any amount which— (a) is owed by...

        2. 10.An amount owed by way of accrued holiday remuneration, in...

        3. 11.So much of any sum owed in respect of money...

        4. 12.So much of any amount which— (a) is ordered (whether...

      6. Interpretation for Category 5

        1. 13.(1) For the purposes of paragraphs 9 to 12, a...

        2. 14.(1) This paragraph relates to a case in which a...

        3. 15.Without prejudice to paragraphs 13 and 14—

      7. Orders under Category 5

        1. 16.An order under paragraph 9 or 12—

      8. Category 6: Levies on coal and steel production

        1. 17.Any sums due at the relevant date from the debtor...

    5. SCHEDULE 5

      PROVISIONS CAPABLE OF INCLUSION IN COMPANY INSOLVENCY RULES

      1. High Court

        1. 1.Provision for regulating the practice and procedure of the High...

        2. 2.Provision conferring rights of audience, in the High Court so...

      2. Notices, etc.

        1. 3.Provision requiring notice of any proceedings in connection with or...

        2. 4.Provision with respect to the form, manner of serving, contents...

        3. 5.Provision specifying the persons to whom any notice is to...

      3. Registration of voluntary arrangements

        1. 6.Provision for the registration of voluntary arrangements approved under Part...

      4. Provisional liquidator

        1. 7.Provision as to the manner in which a provisional liquidator...

      5. Conduct of insolvency

        1. 8.Provision with respect to the certification of any person as,...

        2. 9.The following provision with respect to meetings of a company’s...

        3. 10.(1) Provision as to the functions, membership and proceedings of...

        4. 11.Provision as to the manner in which any requirement that...

        5. 12.Provision as to the debts that may be proved in...

        6. 13.Provision with respect to the manner of the distribution of...

        7. 14.Provision which, with or without modifications, applies in relation to...

      6. Financial provisions

        1. 15.Provision as to the amount, or manner of determining the...

        2. 16.Provision with respect to the manner in which money received...

        3. 17.Provision as to the costs that may be treated as...

        4. 18.Provision as to the costs that may be treated as...

        5. 19.Provision as to the costs that may be incurred for...

      7. Information and records

        1. 20.Provision requiring officers of the High Court—

        2. 21.Provision requiring a creditor, member or contributory, or such a...

        3. 22.Provision as to the manner in which public examinations under...

        4. 23.Provision imposing requirements with respect to— (a) the preparation and...

        5. 24.Provision requiring the person who is the supervisor of a...

        6. 25.Provision as to the manner in which the liquidator of...

        7. 26.Provision imposing requirements in connection with the carrying out of...

      8. General

        1. 27.Provision conferring power on the Department to make regulations with...

        2. 28.Provision conferring a discretion on the High Court.29

        3. 29.Provision conferring power on the High Court to make orders...

        4. 30.Provision making non-compliance with any of the rules a criminal...

    6. SCHEDULE 6

      PROVISIONS CAPABLE OF INCLUSION IN INDIVIDUAL INSOLVENCY RULES

      1. High Court

        1. 1.Provision for regulating the practice and procedure of the High...

        2. 2.Provision conferring rights of audience, in the High Court for...

      2. Notices, etc.

        1. 3.Provision requiring notice of any proceedings under Parts VIII to...

        2. 4.Provision with respect to the form, manner of serving, contents...

        3. 5.Provision specifying the persons to whom any notice under Parts...

      3. Deeds of arrangement and voluntary arrangements

        1. 6.Provision for endorsement, execution and certification of deeds of arrangement...

      4. Interim receiver

        1. 7.Provision as to the manner in which an interim receiver...

      5. Receiver or manager

        1. 8.Provision as to the manner in which the official receiver...

      6. Administration of individual insolvency

        1. 9.Provision with respect to the certification of the appointment of...

        2. 10.The following provision with respect to meetings of creditors—

        3. 11.Provision as to the functions, membership and proceedings of a...

        4. 12.Provision as to the manner in which any requirement that...

        5. 13.Provision as to the manner in which any requirement imposed...

        6. 14.Provision as to the terms and conditions that may be...

        7. 15.Provision as to the debts that may be proved in...

        8. 16.Provision with respect to the manner of the distribution of...

        9. 17.Provision modifying the application of Parts VIII to X in...

      7. Financial provisions

        1. 18.Provision as to the amount, or manner of determining the...

        2. 19.Provision with respect to the manner in which money received...

        3. 20.Provision as to the costs that may be treated as...

        4. 21.Provision as to the costs that may be incurred for...

      8. Information and records

        1. 22.Provision requiring officers of the High Court—

        2. 23.Provision requiring a creditor or a committee established under Article...

        3. 24.Provision as to the manner in which public examinations under...

        4. 25.Provision imposing requirements with respect to— (a) the preparation and...

        5. 26.Provision requiring the person who is the supervisor of a...

        6. 27.Provision as to the manner in which the trustee of...

      9. General

        1. 28.Provision conferring power on the Department to make regulations with...

        2. 29.Provision conferring a discretion on the High Court.

        3. 30.Provision making non-compliance with any of the rules a criminal...

    7. SCHEDULE 7

      PUNISHMENT OF OFFENCES UNDER THIS ORDER

    8. SCHEDULE 8

      TRANSITIONAL PROVISIONS AND SAVINGS

      1. PART I COMPANY INSOLVENCY AND WINDING UP

        1. Administration orders

          1. 1.(1) Where any right to appoint an administrative receiver of...

        2. Receivers and managers

          1. 2.(1) Parts IV and VII do not apply in relation...

        3. Winding up already in progress

          1. 3.(1) Subject to the following provisions of this Part, Parts...

        4. Statement of affairs

          1. 4.(1) Where a winding up by the High Court has...

        5. Provisions relating to liquidator

          1. 5.(1) This paragraph applies as regards the liquidator in the...

        6. Saving for power to make rules

          1. 6.Paragraphs 3 to 5 are without prejudice to the power...

        7. Setting aside of preferences and other transactions

          1. 7.(1) Where a provision in Part V of this Order...

      2. PART II INDIVIDUAL INSOLVENCY

        1. Bankruptcy general

          1. 8.(1) Subject to the following provisions of this Part, Parts...

          2. 9.(1) In relation to any such case as is mentioned...

          3. 10.Transactions entered into before the commencement date have effect on...

        2. Discharge from old bankruptcy

          1. 11.(1) Where a person— (a) was adjudged bankrupt before the...

        3. Provisions relating to trustee

          1. 12.(1) This paragraph applies as regards the trustee in the...

        4. Second bankruptcy

          1. 13.(1) Articles 307 and 308 of this Order apply with...

        5. Setting aside of preferences and other transactions

          1. 14.(1) A preference given, assignment made or other transaction entered...

        6. Bankruptcy offences

          1. 15.(1) Where a bankruptcy order is made under this Order...

        7. Power to make rules

          1. 16.(1) The preceding provisions of this Part of this Schedule...

      3. PART III OTHER TRANSITIONAL PROVISIONS AND SAVINGS

        1. Deeds of arrangement

          1. 17.Chapter I of Part VIII does not apply in relation...

        2. Insolvency practitioners

          1. 18.Where an individual began to act as an insolvency practitioner...

        3. Official receiver

          1. 19.Any property vested in the Official Assignee for bankruptcy for...

        4. Transitional effect of Articles 367 to 369

          1. 20.(1) A transaction entered into before the commencement date shall...

        5. Periods of time

          1. 21.Where any period of time specified in any provision repealed...

        6. Saving

          1. 22.The provisions of this Schedule shall have effect without prejudice...

        7. Interpretation

          1. 23.In this Schedule— “the Bankruptcy Acts” means the Bankruptcy Acts...

    9. SCHEDULE 9

      AMENDMENTS

      1. PART I AMENDMENTS OF COMPANIES (NORTHERN IRELAND) ORDER 1986

        1. 1.In Article 2(3) (general interpretation)— (a) in the definition of...

        2. 2.After Article 2 insert— Relationship of this Order to Insolvency...

        3. 3.In Article 24(4) (effect of registration in the event of...

        4. 4.In Article 54(7)(a) (arrangement in relation to recently allotted shares)...

        5. 5.In Article 113(7)(a) (arrangement in relation to allotted shares) for...

        6. 6.In Article 141(7) (arrangement in relation to equity shares) for...

        7. 7.In Article 150(2)(b) (application of Article 480) for “Article 480”...

        8. 8.In Article 163(3) (non-prohibited financial assistance transactions)—

        9. 9.In Article 166(3) (statutory declaration prior to financial assistance) for...

        10. 10.In Article 183(4) (statutory declaration prior to payment out of...

        11. 11.For Article 205 (payment of debts out of assets subject...

        12. 12.In Article 230(4) (obligation to preserve accounting records) for the...

        13. 13.After Article 233(7) (alteration of accounting reference period) insert—

        14. 14.In Article 388(4)(j) (registration, etc., of resolutions and agreements) for...

        15. 15.In Article 402(1) (certain charges void if not registered) after...

        16. 16.In Article 418(1) (power of company to compromise with creditors...

        17. 17.In Article 419(6) (liability of officer or liquidator of company...

        18. 18.For Article 454(6) (application of winding-up rules to petition under...

        19. 19.In Article 602(1) (power of Court, within 2 years of...

        20. 20.In Article 608 (effect of Crown disclaimer)—

        21. 21.In Article 609(1) (application of Article 576)—

        22. 22.In Article 660(2)(b) (official notification in relation to events affecting...

      2. PART II OTHER AMENDMENTS

        1. (1) ACTS OF THE PARLIAMENT OF THE UNITED KINGDOM

          1. The Exchange Control Act 1947 (c. 14)

            1. 23.In paragraph 8 of Schedule 4 (legal proceedings)—

          2. The Medicines Act 1968 (c. 67)

            1. 24.In section 72(4) (which specifies the persons who may carry...

          3. The Social Security (Northern Ireland) Act 1975 (c. 15)

            1. 25.In section 143(6) (provisions supplementary to sections 141 and 142)...

          4. The Policyholders Protection Act 1975 (c. 75)

            1. 26.In section 5(1)(a) (application of sections 6 to 11) for...

            2. 27.In section 15(1) (interim payments to policyholders of companies in...

            3. 28.In section 16(1)(b) (companies in financial difficulties) for “Companies (Northern...

          5. The Judicature (Northern Ireland) Act 1978 (c. 23)

            1. 29.In section 35(2) (appeals to Court of Appeal from High...

            2. 30.For section 106(1)(a) and (b) (rights of audience in High...

          6. The Finance Act 1981 (c. 35)

            1. 31.In section 55(4) (stock relief) for “Companies (Northern Ireland) Order...

          7. The Civil Jurisdiction and Judgments Act 1982 (c. 27)

            1. 32.In paragraph 1 of Schedule 5 (proceedings to which provisions...

          8. The Insurance Companies Act 1982 (c. 50)

            1. 33.In section 53 (winding up of insurance companies)—

            2. 34.In section 54 (winding up of insurance company on petition...

            3. 35.In section 55 (winding up of insurance companies with long...

            4. 36.In section 56 (continuation of long term business of insurance...

            5. 37.In section 59 (winding-up rules)— (a) in subsection (1) for...

            6. 38.In section 96(1), in the definition of “insolvent” for “Articles...

          9. The Value Added Tax Act 1983 (c. 55)

            1. 39.In section 22 (refund of tax in cases of bad...

          10. The Finance Act 1985 (c. 54)

            1. 40.In section 79 (voluntary winding-up: transfer of shares) in subsection...

          11. The Insolvency Act 1986 (c. 45)

            1. 41.In section 426 (co-operation between courts exercising jurisdiction in relation...

          12. The Building Societies Act 1986 (c. 53)

            1. 42.In section 26(1)(c) (for the purposes of the protective scheme...

            2. 43.In section 28 (insolvent building society liable where Board makes...

            3. 44.In section 100(6)(b) (priority rights on transfer of business from...

            4. 45.In Schedule 15 (application of companies winding up legislation to...

          13. The Financial Services Act 1986 (c. 60)

            1. 46.In section 54(6)(c) (rules establishing scheme for compensation) for “Article...

            2. 47.In section 73 (winding up orders: Northern Ireland)—

            3. 48.In section 74 (administration orders) after “Act applies” insert “,...

          14. The Banking Act 1987 (c. 22)

            1. 49.In section 11(8) (revocation of authorisation) at the end insert...

            2. 50.In section 58 (compensation payments to depositors)—

            3. 51.In section 59 (meaning of insolvency)— (a) in subsection (1)—...

            4. 52.In section 62(8) (liability of institution in respect of compensation...

            5. 53.In section 65(3) (power to obtain information) after “1986” insert...

            6. 54.In the Table in section 84(1) (disclosure for facilitating discharge...

            7. 55.In section 85(1)(f) (other permitted disclosures) after “1986” insert “or...

            8. 56.In section 92 (winding up on petition from the Bank)—...

          15. The Criminal Justice Act 1987 (c. 38)

            1. 57.For section 3(6)(d) (disclosure of information) substitute—

          16. The Criminal Justice (Scotland) Act 1987 (c. 41)

            1. 58.For section 54(5)(d) (disclosure of information) substitute—

          17. The Income and Corporation Taxes Act 1988 (c. 1)

            1. 59.In section 293(5) (relief for investment in new corporate trades)...

            2. 60.In section 345(5) (computation of chargeable gains) for “496 of...

            3. 61.In section 559 (deductions from payments to sub-contractors) subsection (6)...

          18. The Prevention of Terrorism (Temporary Provisions) Act 1989 (c. 4)

            1. 62.In Schedule 4— (a) in paragraph 31—

        2. (2) ACTS OF THE PARLIAMENT OF NORTHERN IRELAND

          1. The Third Parties (Rights against Insurers) Act(Northern Ireland) 1930 (c. 19)

            1. 63.In section 1 (rights of third parties against insurers on...

            2. 64.In section 2 (duty to give necessary information to third...

            3. 65.In section 3 (settlement between insurers and insured)—

          2. The Arbitration Act (Northern Ireland) 1937 (c. 8)

            1. 66.In section 3(2) (application to Court with consent of committee...

          3. The Pig Production Development Act (Northern Ireland) 1964 (c. 25)

            1. 67.In section 11(2) for “Part XXI of the Companies (Northern...

          4. The Contracts of Employment and Redundancy Payments Act (Northern Ireland) 1965 (c. 19)

            1. 68.In section 42(5) (which provides for payment of money out...

          5. The Transport Act (Northern Ireland) 1967 (c. 37)

            1. 69.In section 33(2)(a) (transfer of licences) for the words “adjudicated...

          6. The Industrial and Provident Societies Act (Northern Ireland) 1969 (c. 24)

            1. 70.In section 64 (dissolution of registered society) for “Companies (Northern...

          7. The Land Registration Act (Northern Ireland) 1970 (c. 18)

            1. 71.For section 59 substitute— Transmissions on bankruptcy of registered owner....

            2. 72.After section 67 insert— Protection of creditors prior to registration...

            3. 73.In section 85(3) (rules) at the end add—

            4. 74.In section 94 (interpretation) insert the following definitions— “bankruptcy order”...

            5. 75.In Part I of Schedule 6 (registration of certain burdens)—...

            6. 76.In Part II of Schedule 6 (provisions affecting registration of...

          8. The Registration of Deeds Act (Northern Ireland) 1970 (c. 25)

            1. 77.After section 3 insert— Pending actions relating to bankruptcy. (1) A bankruptcy petition, whether or not it is known...

            2. 78.In section 4(1) (effect of registration) for “section 5” substitute...

            3. 79.After section 19(2) (regulations) insert— (3) The power of the...

            4. 80.In section 20(1) (interpretation) insert the following definitions— “bankruptcy order”...

          9. The Friendly Societies Act (Northern Ireland) 1970 (c. 31)

            1. 81.In section 77(2) (winding-up of registered friendly societies and branches)...

            2. 82.In section 87(3)(b) (offence for aiding and abetting dissolution) for...

          10. The Licensing Act (Northern Ireland) 1971 (c. 13)

            1. 83.In section 25(1) (temporary continuance of business on death, bankruptcy,...

          11. The Local Government Act (Northern Ireland) 1972 (c. 9)

            1. 84.For section 5(1) (disqualification by reason of bankruptcy for membership...

        3. (3) ORDERS IN COUNCIL

          1. The Superannuation (Northern Ireland) Order 1972 (NI 10)

            1. 85.In Article 7(2) (rule that benefit is unassignable not to...

          2. The Social Security Pensions (Northern Ireland) Order 1975 (NI 15)

            1. 86.In Schedule 4 (priority in bankruptcy, etc. to certain debts)—...

          3. The Solicitors (Northern Ireland) Order 1976 (NI 12)

            1. 87.In Article 13(1)(k) (application for a practising certificate by a...

          4. The Industrial Relations (Northern Ireland) Order 1976 (NI 16)

            1. 88.In Article 42 (employee’s rights on the insolvency of his...

            2. 89.In Article 43(6) (payment of unpaid contributions to occupational pension...

            3. 90.In Article 47(1) (interpretation of Articles 42 to 46)—

          5. The Matrimonial Causes (Northern Ireland) Order 1978 (NI 15)

            1. 91.In Article 41 (settlement, etc., made in compliance with a...

          6. The Housing (Northern Ireland) Order 1981 (NI 3)

            1. 92.In Article 131 (winding up of registered housing associations) for...

          7. The Judgments Enforcement (Northern Ireland) Order 1981 (NI 6)

            1. 93.In Article 2, in the definition of “company”, in sub-paragraph...

            2. 94.In Article 14(3) (stay of enforcement in cases of insolvency)—...

            3. 95.For Article 86 substitute— Default of debtor (1) If the debtor fails to make any payment which...

            4. 96.In Article 88 (effect of bankruptcy or winding up on...

            5. 97.In Article 90 (functions of Office as to proceeds of...

            6. 98.In Article 91 (retention by Office of money or property...

            7. 99.In Article 92 (charge in respect of costs of enforcement)...

            8. 100.In Article 93 (special provisions as to charges on land)—...

          8. The Agricultural Marketing (Northern Ireland) Order 1982 (NI 12)

            1. 101.In paragraph 6 of Schedule 2 (provisions as to winding...

            2. 102.In paragraph 5 of Schedule 6 (provisions as to winding...

          9. The Credit Unions (Northern Ireland) Order 1985 (NI 12)

            1. 103.In Article 68(a) (dissolution of credit union) for “Companies Acts...

      3. PART III INTERIM AMENDMENTS RELATING TO PREFERENTIAL DEBTS

        1. The Bankruptcy Amendment (Northern Ireland)Order 1980 (NI 4)

          1. 104.For Articles 19 and 20 substitute— Preferential payments (1) Subject to Article 21, in the distribution of the...

        2. The Companies (Northern Ireland) Order 1986 (NI 6)

          1. 105.For Schedule 18 substitute— SCHEDULE 18 PREFERENCE AMONG CREDITORS IN...

    10. SCHEDULE 10

      REPEALS

  8. Explanatory Note