EXPLANATORY NOTE
These Rules set out the detailed procedure for the conduct of all company and individual insolvency proceedings in England and Wales under the Insolvency Act 1986 and otherwise give effect to that Act. The insolvency proceedings concerned are—
company voluntary arrangements (Part 1 of the Rules),
administration (Part 2),
administrative receivership (Part 3),
companies winding up (Part 4),
individual voluntary arrangements (Part 5), and
bankruptcy (Part 6).
Parts 7 to 13 of the Rules apply to both company and individual insolvency proceedings and are concerned with the following matters—
court procedure and practice (Part 7),
proxies and company representation (Part 8),
examination of persons concerned in company and individual insolvency (Part 9).
official receivers (Part 10),
declaration and payment of dividend (winding up and bankruptcy) (Part 11),
miscellaneous and general (Part 12), and interpretation and application (Part 13).
The Arrangement of Rules at the beginning of the statutory instrument lists the number and contents of all the Rules and Schedules. The Rules come into force on 29th December 1986 and generally apply to all insolvency proceedings commenced on or after that date. The Rules also apply to such proceedings commenced before that date to which provisions of the Insolvency Act 1986 are applied by Schedule 11 of the Act to the extent necessary to give effect to those provisions. In addition, Rules 6.36, 7.11 and 7.34 expressly provide for their application to insolvency proceedings, whenever commenced.