Insolvency Act 1985 (c. 65)

SCHEDULES

Section 106.

SCHEDULE 5 Provisions Capable of Inclusion in Company Insolvency Rules

Courts

1 Provision for supplementing, in relation to the insolvency or winding up of companies, any provision made by or under section 512 of the 1985 Act (jurisdiction in relation to winding up).

2 Provision for regulating the practice and procedure of any court exercising jurisdiction for the purposes of Part II of this Act or the 1985 Act so far as relating to, and to matters connected with or arising out of, the insolvency or winding up of companies, being any provision that could be made by rules of court.

Notices etc.

3 Provision requiring notice of any proceedings in connection with or arising out of the insolvency or winding up of a company to be given or published in the manner prescribed by the rules.

4 Provision with respect to the form, manner of serving, contents and proof of any petition, application, order, notice, statement or other document required to be presented, made, given, published or prepared under any enactment or subordinate legislation relating to, or to matters connected with or arising out of, the insolvency or winding up of companies.

5 Provision specifying the persons to whom any notice is to be given.

Registration of voluntary arrangements

6 Provision for the registration of compositions or schemes approved under Chapter II of Part II of this Act, including provision for the keeping and inspection of a register.

Provisional liquidator

7 Provision as to the manner in which a provisional liquidator appointed under section 532 of the 1985 Act is to carry out his functions.

Conduct of insolvency

8 Provision with respect to the certification of any person as, and as to the proof that a person is, the liquidator, administrator or administrative receiver of a company.

9 The following provision with respect to meetings of a company's creditors, contributories or members—

(a) provision as to the manner of summoning a meeting (including provision as to how any power to require a meeting is to be exercised, provision as to the manner of determining the value of any debt or contribution for the purposes of any such power and provision making the exercise of any such power subject to the deposit of a sum sufficient to cover the expenses likely to be incurred in summoning and holding a meeting);

(b) provision specifying the time and place at which a meeting may be held and the period of notice required for a meeting;

(c) provision as to the procedure to be followed at a meeting (including the manner in which decisions may be reached by a meeting and the manner in which the value of any vote at a meeting is to be determined);

(d) provision for requiring a person who is or has been an officer of the company to attend a meeting ;

(e) provision creating, in the prescribed circumstances, a presumption that a meeting has been duly summoned and held; and

(f) provision as to the manner of proving the decisions of a meeting.

10 Provision as to the functions, membership and proceedings of a committee established under section 43, 55, 74 or 75 of this Act or section 482B or 590 of the 1985 Act and the following provision with respect to the establishment of a committee established under section 74 or 75 of this Act or section 590 of the 1985 Act, that is to say—

(a) provision for resolving differences between a meeting of the company's creditors and a meeting of its contributories or members;

(b) provision authorising the establishment of the committee without a meeting of contributories in a case where a company is being wound up on grounds including its inability to pay its debts; and

(c) provision modifying the requirements of this Act with respect to the establishment of the committee in a case where a winding-up order has been made immediately upon the discharge of an administration order.

11 Provision as to the manner in which any requirement that may be imposed on a person under Part II of this Act or under the 1985 Act by the official receiver, the liquidator, administrator or administrative receiver of a company or a special manager appointed under section 90 of this Act is to be so imposed.

12 Provision as to the debts that may be proved in a winding up, as to the manner and conditions of proving a debt and as to the manner and expenses of establishing the value of any debt or security.

13 Provision with respect to the manner of the distribution of the property of a company that is being wound up, including provision with respect to unclaimed funds and dividends.

14 Provision which, with or without modifications, applies in relation to the winding up of companies any enactment contained in Part III of this Act or in the [1985 c. 66.] Bankruptcy (Scotland) Act 1985.

Financial provisions

15 Provision as to the amount, or manner of determining the amount, payable to the liquidator, administrator or administrative receiver of a company or a special manager appointed under section 90 of this Act, by way of remuneration for the carrying out of functions in connection with or arising out of the insolvency or winding up of a company.

16 Provision with respect to the manner in which moneys received by the liquidator of a company in the course of carrying out his functions as such are to be invested or otherwise handled and with respect to the payment of interest on sums which, in pursuance of rules made by virtue of this paragraph, have been paid into the Insolvency Services Account.

17 Provision as to the fees, costs, charges and other expenses that may be treated as the expenses of a winding up.

18 Provision as to the fees, costs, charges and other expenses that may be treated as properly incurred by the administrator or administrative receiver of a company.

19 Provision as to the fees, costs, charges and other expenses that may be incurred for any of the purposes of Chapter II of Part II of this Act or in the administration of any composition or scheme approved under that Chapter.

Information and records

20 Provision requiring registrars and other officers of courts having jurisdiction in England and Wales in relation to, or to matters connected with or arising out of, the insolvency or winding up of companies—

(a) to keep books and other records with respect to the exercise of that jurisdiction ; and

(b) to make returns to the Secretary of State of the business of those courts.

21 Provision requiring a creditor, member or contributory or such a committee as is mentioned in paragraph 10 above to be supplied (on payment in prescribed cases of the prescribed fee) with such information and with copies of such documents as may be prescribed.

22 Provision as to the manner in which public examinations under section 68 of this Act and proceedings under section 100 of this Act are to be conducted, as to the circumstances in which records of such examinations or proceedings are to be made available to prescribed persons and as to the costs of such examinations and proceedings.

23 Provision imposing requirements with respect to—

(a) the preparation and keeping by the liquidator, administrator or administrative receiver of a company, or by the supervisor of a composition or scheme approved under Chapter II of Part II of this Act, of prescribed books, accounts and other records ;

(b) the production of those books, accounts and records for inspection by prescribed persons ;

(c) the auditing of accounts kept by the liquidator, administrator or administrative receiver of a company or by the supervisor of such a composition or scheme ; and

(d) the issue by the administrator or administrative receiver of a company of such a certificate as is mentioned in section 22(3)(b) of the [1983 c. 55.] Value Added Tax Act 1983 (refund of tax in cases of bad debts) and the supply of copies thereof to creditors of the company.

24 Provision requiring the person who is the supervisor of a composition or scheme approved under Chapter II of Part II of this Act, when it appears to him that the composition or scheme has been fully implemented and that nothing remains to be done by him under the composition or scheme—

(a) to give notice of that fact to persons bound by the composition or scheme ; and

(b) to report to those persons on the carrying out of the functions conferred on the supervisor of the composition or scheme.

25 Provision as to the manner in which the liquidator of a company is to act in relation to the books, papers and other records of the company, including provision authorising their disposal.

26 Provision imposing requirements in connection with the carrying out of functions under section 12(5) of this Act (including, in particular, requirements with respect to the making of periodic returns).

General

27 Provision conferring power on the Secretary of State to make regulations with respect to so much of any matter that may be provided for in the rules as relates to the carrying out of the functions of the liquidator, administrator or administrative receiver of a company.

28 Provision conferring a discretion on the court.

29 Provision conferring power on the court to make orders for the purpose of securing compliance with obligations imposed by or under section 12(6), 39, 53, 66, 69(2) or 99 of this Act or section 482 of the 1985 Act.

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

31 Provision making different provision for different cases or descriptions of cases, including different provision for different areas.