Insolvency (Amendment) Act (Northern Ireland) 2016 Explanatory Notes

1. Introduction

2. Background and Policy Objectives

3. Overview

4. Commentary on Sections

   1. Section 1: Attendance at meetings and use of websites

      1. Article 208ZA

      2. Article 208ZB

      3. Article 345A

      4. Article 345B

   2. Section 2: References to things in writing

   3. Section 3: Removal of requirement for annual meetings in a members’ voluntary and a creditors’ voluntary winding up

   4. Section 4: Requirements in relation to meetings under Articles 81 and 84 of the Insolvency Order

   5. Section 5: Individual voluntary arrangements: removal of requirement to submit a nominee’s report to the High Court

   6. Section 6: Fast-track voluntary arrangements: notification of the Department

   7. Section 7: Powers of liquidator exercisable with or without sanction in a winding up

   8. Section 8: Powers of trustee exercisable with or without sanction in a bankruptcy

   9. Section 9: Definition of debt

   10. Section 10: Treatment of liabilities relating to contracts of employment

   11. Section 11: Deeds of arrangement

   12. Section 12: Bankruptcy: early discharge procedure

   13. Section 13: After-acquired property of bankrupt

   14. Section 14: Authorisation of insolvency practitioners

   15. Section 15: Regulatory objectives

   16. Section 16: Oversight of recognised professional bodies

   17. Section 17: Recognised professional bodies: revocation of recognition

   18. Section 18: Court sanction of insolvency practitioners in public interest cases

   19. Section 19: Power for Department to obtain information

   20. Section 20: Compliance orders

   21. Power to establish single regulator of insolvency practitioners

       1. Section 21: Power to establish single regulator of insolvency practitioners

       2. Section 22: Regulations under section 21: designation of existing body

       3. Section 23: Power to make regulations

       4. Section 24: Company arrangement or administration provision to apply to a credit union

       5. Section 25: Disqualification from office: duty to consult the Lord Chief Justice

   22. Section 26: Interpretation

   23. Section 27: Transitional provisions, minor and consequential amendments and repeals

   24. Section 28: Commencement

   25. Section 29: Short title

   26. Schedule 1: Single regulator of insolvency practitioners: supplementary provision

   27. Schedule 2: Transitional Provisions

   28. Schedule 3: Minor and Consequential Amendments

   29. Schedule 4: Repeals

5. Hansard Reports