General

I115 Amendments of Financial Services and Markets Act 2000 and repeals.

1

The enactments mentioned in Schedule 5 are repealed to the extent specified.

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3

Section 356 of that Act (Authority’s powers to participate in proceedings: company voluntary arrangements) is amended as follows—

a

for subsection (1), there is substituted—

1

Where a voluntary arrangement has effect under Part I of the 1986 Act in respect of a company or insolvent partnership which is an authorised person, the Authority may apply to the court under section 6 or 7 of that Act.

b

for subsection (2), there is substituted—

2

Where a voluntary arrangement has been approved under Part II of the 1989 Order in respect of a company or insolvent partnership which is an authorised person, the Authority may apply to the court under Article 19 or 20 of that Order.

c

in subsection (3), for “either” there is substituted “ any ”.

16 Commencement.

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The preceding provisions of this Act (including the Schedules) are to come into force on such day as the Secretary of State may by order made by statutory instrument appoint.

2

Subsection (1) does not apply to section 14 (which accordingly comes into force on the day on which this Act is passed).

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An order under this section may make different provision for different purposes and may make—

a

any supplementary, incidental or consequential provision, and

b

any transitory, transitional or saving provision,

which the Secretary of State considers necessary or expedient.

17 Extent.

This Act, except section 15(3), Part II of Schedule 2 and paragraphs 16(3) and 22 of Schedule 4, does not extend to Northern Ireland.

18 Short title.

This Act may be cited as the Insolvency Act 2000.