Insolvency Act 1986

InterpretationE+W+S

111(1)In this Schedule—

  • “administrative receiver” has the meaning given by section 251,

  • “administrator” has the meaning given by paragraph 1 and, where the context requires, includes a reference to a former administrator,

  • F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  • “correspondence” includes correspondence by telephonic or other electronic means,

  • “creditors’ meeting” has the meaning given by paragraph 50,

  • “enters administration” has the meaning given by paragraph 1,

  • “floating charge” means a charge which is a floating charge on its creation,

  • “in administration” has the meaning given by paragraph 1,

  • “hire-purchase agreement” includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement,

  • “holder of a qualifying floating charge” in respect of a company’s property has the meaning given by paragraph 14,

  • “market value” means the amount which would be realised on a sale of property in the open market by a willing vendor,

  • “the purpose of administration” means an objective specified in paragraph 3, and

  • “unable to pay its debts” has the meaning given by section 123.

[F2(1A)In this Schedule, “company” means—

(a)a company within the meaning of section 735(1) of the Companies Act 1985,

(b)a company incorporated in an EEA State other than the United Kingdom, or

(c)a company not incorporated in an EEA State but having its centre of main interests in a member State other than Denmark.

(1B)In sub-paragraph (1A), in relation to a company, “centre of main interests” has the same meaning as in the EC Regulation and, in the absence of proof to the contrary, is presumed to be the place of its registered office (within the meaning of that Regulation).]

(2)A reference in this Schedule to a thing in writing includes a reference to a thing in electronic form.

(3)In this Schedule a reference to action includes a reference to inaction.

Textual Amendments

F1In Sch. B1 para. 111(1) definition of "company" omitted (13.4.2005) by virtue of The Insolvency Act 1986 (Amendment) Regulations 2005 (S.I. 2005/879), reg. 2(4)(a) (with reg. 3)

F2Sch. B1 para. 111(1A)(1B) inserted (13.4.2005) by The Insolvency Act 1986 (Amendment) Regulations 2005 (S.I. 2005/879), reg. 2(4)(b) (with reg. 3)

Modifications etc. (not altering text)

C1Sch. B1 para. 111 applied (with modifications) (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2009 (c. 1), ss. 145, 263(1)(2) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch. para. 3