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The Insolvency Act 1986 (Amendment) (Administrative Receivership and Capital Market Arrangements) Order 2003
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- 2003 No. 1468
- Explanatory Note
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Explanatory Note
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This Order expands the definition of “capital market arrangement” in Schedule 2A to the Insolvency Act 1986. This definition was created for the purposes of section 72B of the Insolvency Act 1986. This section creates an exception to the prohibition against the appointment of administrative receivers contained in section 72A of the Insolvency Act 1986. The effect of the amendments is to clarify the scope of the exception in section 72B.
A regulatory impact assessment identifying the costs of the insolvency provisions of the Enterprise Act 2002 to business and the exchequer was published at the time the Act received Royal Assent in November 2002. It is available from www.dti.gov.uk/enterpriseact/rias.htm. The assessment encompasses the areas covered by this Order.
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