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Insolvency Act 1986

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Changes over time for: Section 379ZA

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Insolvency Act 1986, Section 379ZA is up to date with all changes known to be in force on or before 19 March 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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Changes and effects yet to be applied to the whole Act associated Parts and Chapters:

  • Act amendment to earlier affecting provision S.I. 1986/1999, art. 3, Sch. 1 Pt. 2 by S.I. 2017/1119 Sch. 3 para. 1
  • Act savings and transitional provisions for amendments by S.I. 2022/1166 by S.I. 2022/1172 Regulations

Whole provisions yet to be inserted into this Act (including any effects on those provisions):

[F1379ZACreditors' decisions: generalE+W

(1)This section applies where, for the purposes of this Group of Parts, a person (“P”) seeks a decision from an individual's creditors about any matter.

(2)The decision may be made by any creditors' decision procedure P thinks fit, except that it may not be made by a creditors' meeting unless subsection (3) applies.

(3)This subsection applies if at least the minimum number of creditors request in writing that the decision be made by a creditors' meeting.

(4)If subsection (3) applies, P must summon a creditors' meeting.

(5)Subsection (2) is subject to any provision of this Act, the rules or any other legislation, or any order of the court—

(a)requiring a decision to be made, or prohibiting a decision from being made, by a particular creditors' decision procedure (other than a creditors' meeting);

(b)permitting or requiring a decision to be made by a creditors' meeting.

(6)Section 379ZB provides that in certain cases the deemed consent procedure may be used instead of a creditors' decision procedure.

(7)For the purposes of subsection (3) the “minimum number” of creditors is any of the following—

(a)10% in value of the creditors;

(b)10% in number of the creditors;

(c)10 creditors.

(8)The references in subsection (7) to creditors are to creditors of any class, even where a decision is sought only from creditors of a particular class.

(9)In this section references to a meeting are to a meeting where the creditors are invited to be present together at the same place (whether or not it is possible to attend the meeting without being present at that place).

(10)Except as provided by subsection (8), references in this section to creditors include creditors of a particular class.

(11)In this Group of Parts “creditors' decision procedure” means a procedure prescribed or authorised under paragraph 11A of Schedule 9.]

Textual Amendments

F1Ss. 379ZA-379ZC and cross-heading inserted (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), ss. 123(2), 164(1); S.I. 2015/1329, reg. 3(d); S.I. 2016/1020, reg. 4(b) (with reg. 5) (as amended by S.I. 2017/363, reg. 3)

Modifications etc. (not altering text)

C1Ss. 379ZA, 379ZB modified by The Insolvent Partnerships Order 1994 (S.I. 1994/2421), Sch. 7A (as inserted (6.4.2017) by The Deregulation Act 2015 and Small Business, Enterprise and Employment Act 2015 (Consequential Amendments) (Savings) Regulations 2017 (S.I. 2017/540), reg. 1, Sch. 2 para. 10 (with reg. 4))

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