The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009

Insolvency Act 1986 (c. 45)

82.—(1) Part 18 of the Insolvency Act 1986 (interpretation) is amended as follows.

(2) In section 435(5)(b) (meaning of “associate”), omit “(within the meaning of the Companies Act)”.

(3) In section 436 of the Insolvency Act 1986 (expressions used generally)—

(a) make the existing provision subsection (1);

(b) after the definition of “associate” insert—

““body corporate” includes a body incorporated outside Great Britain, but does not include—

(a)

a corporation sole, or

(b)

a partnership that, whether or not a legal person, is not regarded as a body corporate under the law by which it is governed;”;

(c) omit the definition of “the Companies Act”;

(d) after the definition of “EEA state” insert—

““employees’ share scheme” means a scheme for encouraging or facilitating the holding of shares in or debentures of a company by or for the benefit of—

(a)

the bona fide employees or former employees of—

(i)

the company,

(ii)

any subsidiary of the company, or

(iii)

the company’s holding company or any subsidiary of the company’s holding company, or

(b)

the spouses, civil partners, surviving spouses, surviving civil partners, or minor children or step-children of such employees or former employees.”;

(e) after the existing provision insert—

“(2) The following expressions have the same meaning in this Act as in the Companies Acts—

“articles”, in relation to a company (see section 18 of the Companies Act 2006);

“debenture” (see section 738 of that Act);

“holding company” (see sections 1159 and 1160 of, and Schedule 6 to, that Act);

“the Joint Stock Companies Acts” (see section 1171 of that Act);

“overseas company” (see section 1044 of that Act);

“paid up” (see section 583 of that Act);

“private company” and “public company” (see section 4 of that Act);

“registrar of companies” (see section 1060 of that Act);

“share” (see section 540 of that Act);

“subsidiary” (see sections 1159 and 1160 of, and Schedule 6 to, that Act).”.