Relevant persons
I16Corporate bodies etc
F41
A body corporate or unincorporated body is a relevant person if a compromise or arrangement between the body and its creditors (or a class of them) is in force, having been sanctioned in accordance with section 899 F15or 901F of the Companies Act 2006.
2
A body corporate or an unincorporated body is a relevant person if, in England and Wales or Scotland—
a
a voluntary arrangement approved in accordance with Part 1 of the Insolvency Act 1986 is in force in respect of it,
F1b
the body is in administration under Schedule B1 to that Act,
c
there is a person appointed in accordance with Part 3 of that Act who is acting as receiver or manager of the body's property (or there would be such a person so acting but for a temporary vacancy),
d
the body is, or is being, wound up voluntarily in accordance with Chapter 2 of Part 4 of that Act,
e
there is a person appointed under section 135 of that Act who is acting as provisional liquidator in respect of the body (or there would be such a person so acting but for a temporary vacancy), or
f
the body is, or is being, wound up by the court following the making of a winding-up order under Chapter 6 of Part 4 of that Act or Part 5 of that Act.
3
A body corporate or an unincorporated body is a relevant person if, in Scotland—
a
an award of sequestration has been made F7by virtue of section 6 of the Bankruptcy (Scotland) Act 2016 in respect of the body's estate, and the body has not been discharged under that Act,
b
c
F11d
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4
A body corporate or an unincorporated body is a relevant person if, in Northern Ireland—
a
a voluntary arrangement approved in accordance with Part 2 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N. I. 19)) is in force in respect of the body,
F2b
the body is in administration under Schedule B1 to that Order,
c
there is a person appointed in accordance with Part 4 of that Order who is acting as receiver or manager of the body's property (or there would be such a person so acting but for a temporary vacancy),
d
the body is, or is being, wound up voluntarily in accordance with Chapter 2 of Part 5 of that Order,
e
there is a person appointed under Article 115 of that Order who is acting as provisional liquidator in respect of the body (or there would be such a person so acting but for a temporary vacancy), or
f
the body is, or is being, wound up by the court following the making of a winding-up order under Chapter 6 of Part 5 of that Order or Part 6 of that Order.
F34A
A body corporate or unincorporated body is a relevant person if it is in insolvency under Part 2 of the Banking Act 2009.
4B
A body corporate or unincorporated body is a relevant person if it is in administration under relevant sectoral legislation as defined in Schedule A1.
5
A body within F5subsection (1) is not a relevant person in relation to a liability that is transferred to another body by the order sanctioning the compromise or arrangement.
6
Where a body is a relevant person by virtue of F6subsection (1), section 1 has effect to transfer rights only to a person on whom the compromise or arrangement is binding.
7
Where an award of sequestration made F12by virtue of section 6 of the Bankruptcy (Scotland) Act 2016 is recalled or reduced, any rights which were transferred under section 1 as a result of that award are re-transferred to and vest in the person who became a relevant person as a result of the award.
F138
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9
In this section—
a
a reference to a person appointed in accordance with Part 3 of the Insolvency Act 1986 includes a reference to a person appointed under section 101 of the Law of Property Act 1925;
b
a reference to a receiver or manager of a body's property includes a reference to a receiver or manager of part only of the property and to a receiver only of the income arising from the property or from part of it;
c
for the purposes of subsection (3) “body corporate or unincorporated body” includes any entity, other than a trust, the estate of which may be sequestrated F14by virtue of section 6 of the Bankruptcy (Scotland) Act 2016;
d
a reference to a person appointed in accordance with Part 4 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N. I. 19)) includes a reference to a person appointed under section 19 of the Conveyancing Act 1881.