Insolvency Act 1986

InterpretationE+W+S

[F1111(1)In this Schedule—

  • “administrative receiver” has the meaning given by section 251,

  • “administrator” has the meaning given by paragraph 1 and, where the context requires, includes a reference to a former administrator,

  • F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  • F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  • F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  • “enters administration” has the meaning given by paragraph 1,

  • “floating charge” means a charge which is a floating charge on its creation,

  • “in administration” has the meaning given by paragraph 1,

  • “hire-purchase agreement” includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement,

  • “holder of a qualifying floating charge” in respect of a company’s property has the meaning given by paragraph 14,

  • “market value” means the amount which would be realised on a sale of property in the open market by a willing vendor,

  • “the purpose of administration” means an objective specified in paragraph 3, and

  • “unable to pay its debts” has the meaning given by section 123.

[F4(1A)In this Schedule, “company” means—

[F5(a)a company registered under the Companies Act 2006 in England and Wales or Scotland,]

(b)a company incorporated in an EEA State F6..., or

(c)a company not incorporated in an EEA State but having its centre of main interests in a member State [F7(other than Denmark) or in the United Kingdom].

(1B)In sub-paragraph (1A), in relation to a company, “centre of main interests” has the same meaning as in [F8Article 3 of the EU Regulation] .]

F9(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)In this Schedule a reference to action includes a reference to inaction.]

Textual Amendments

F1Sch. B1 inserted (15.9.2003) by 2002 c. 40, ss. 248(2), 279, Sch. 16 (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))

F2In Sch. B1 para. 111(1) definition of "company" omitted (13.4.2005) by virtue of The Insolvency Act 1986 (Amendment) Regulations 2005 (S.I. 2005/879), reg. 2(4)(a) (with reg. 3)

F3Words in Sch. B1 para. 111 omitted (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force, 6.4.2019 for S. in so far as not already in force) by virtue of Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 9 para. 10(44); S.I. 2015/1329, reg. 3(d); S.I. 2016/1020, reg. 4(e) (with reg. 5) (as amended by S.I. 2017/363, reg. 3); S.I. 2019/816, reg. 4(c) (with reg. 5)

F4Sch. B1 para. 111(1A)(1B) inserted (13.4.2005) by The Insolvency Act 1986 (Amendment) Regulations 2005 (S.I. 2005/879), reg. 2(4)(b) (with reg. 3)

F5Sch. B1 para. 111(1A)(a) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009, (S.I. 2009/1941) arts. 2(1), 8, {Sch. 1 para. 72} (with art. 10, Sch. 1 para. 84)

F8Words in Sch. B1 para. 111(1B) substituted (26.6.2017) by The Insolvency Amendment (EU 2015/848) Regulations 2017 (S.I. 2017/702), reg. 1, Sch. para. 31 (with regs. 3, 4)

Modifications etc. (not altering text)

C2Sch. B1 paras. 109-111 modified (5.7.2018) by Housing and Planning Act 2016 (c. 22), s. 216(3), Sch. 5 Pts. 1, 2; S.I. 2018/805, reg. 3(b)

C3Sch. B1 para. 111 applied (with modifications) (8.7.2021) by The Payment and Electronic Money Institution Insolvency Regulations 2021 (S.I. 2021/716), regs. 2, 37 (with reg. 5) (as amended (4.1.2024) by S.I. 2023/1399, regs. 1(2), 4, 11)