Enterprise Act 2002

Insolvency Act 1986 (c. 45)

38 (1) Schedule 8 (scope of insolvency rules) shall be amended as follows.

(2) At the end of paragraph 2 (which becomes sub-paragraph (1)) add—

“(2) Rules made by virtue of this paragraph about the consequence of failure to comply with practice or procedure may, in particular, include provision about the termination of administration.”

(3) In paragraph 10 (provision as to committees) for “section 26, 49, 68, 101, 141 or 142 of this Act” substitute “section 49, 68, 101, 141 or 142 of, or paragraph 57 of Schedule B1 to, this Act”.

(4) After paragraph 14 insert—

“14A Provision about the application of section 176A of this Act which may include, in particular—

(a) provision enabling a receiver to institute winding up proceedings;

(b) provision requiring a receiver to institute winding up proceedings.”

(5) After paragraph 14A (inserted by sub-paragraph (4) above) insert—

“Administration

14B Provision which—

(a) applies in relation to administration, with or without modifications, a provision of Parts IV to VII of this Act, or

(b) serves a purpose in relation to administration similar to a purpose that may be served by the rules in relation to winding up by virtue of a provision of this Schedule.”

(6) In paragraph 29 (general provision) for “section 22, 47, 66, 131, 143(2) or 235 of this Act” substitute “section 47, 66, 131, 143(2) or 235 of, or paragraph 47 of Schedule B1 to, this Act”.