2015 No. 1641
The Deregulation Act 2015 (Insolvency) (Consequential Amendments and Transitional and Savings Provisions) Order 2015
Made
Laid before Parliament
Coming into force
The Secretary of State, in exercise of the powers conferred by section 112(1), (2) and (4) of the Deregulation Act 20151, makes the following Order.
Citation, interpretation and commencement
1
This Order may be cited as the Deregulation Act 2015 (Insolvency) (Consequential Amendments and Transitional and Savings Provisions) Order 2015.
2
In this Order—
“the Act” means the Deregulation Act 2015;
“the 1986 Act” means the Insolvency Act 19862; and
“the transitional period” means the period of one year beginning with on 1st October 2015.
3
This Order comes into force on 1st October 2015.
Consequential amendments to secondary legislation
4
Schedule 1 to this Order has effect, subject to the savings provisions in articles 8 and 9.
5
Schedule 2 to this Order has effect.
6
Schedule 3 to this Order has effect subject to the savings provisions in article 10.
Transitional and savings provisions
7
1
Where, during the transitional period, the Secretary of State grants an application made, before 1st October 2015, by an individual for authorisation to act as an insolvency practitioner pursuant to section 393 of the 1986 Act, the individual to whom authorisation is granted must, as soon as reasonably practicable, pay to the Secretary of State a fee in connection with the maintenance of the authorisation.
2
The fee shall be calculated by multiplying £2400 by the number of days the authorisation has to run (starting with the date of authorisation and ending on 30th September 2016) and dividing the result by 365.
8
1
Subject to paragraph (2), the amendments made by article 4 of, and Schedule 1 to, this Order have no effect for the duration of the transitional period in relation to an individual who before the 1st October 2015—
a
has applied for authorisation to act as an insolvency practitioner under section 392 of the 1986 Act and that application has not been granted, refused or withdrawn; or
b
holds an authorisation so to act granted under section 393 of the 1986 Act.
2
The reference in paragraph (1) to Schedule 1 to this Order does not include paragraphs 3(2), 4(3), 5(3) and 5(5) of that Schedule.
9
1
Where during the transitional period section 393(3A) of the Insolvency 1986 Act applies to an authorisation to act as an insolvency practitioner by virtue of paragraph 23(2) of Schedule 6 to the Act, and the insolvency practitioner has not requested or consented to a withdrawal of the authorisation, the revocation of regulation 11 of the Insolvency Practitioners Regulations 20053 by article 4 of, and paragraphs 5(1) and (5) of Schedule 1 to, this Order shall have no effect.
2
During the transitional period the Secretary of State may request that the holder of an authorisation granted by the Secretary of State to act as an insolvency practitioner provide any information relating to any matters of the kind referred to in paragraph (1) of regulation 11 of the Insolvency Practitioners Regulations 2005 and any such request must be complied with within one month of its receipt or within such longer period as the Secretary of State may allow.
10
The revocations and amendments made by paragraph 1 of Schedule 3 to this Order have no effect in relation to a deed of arrangement registered under section 5 of the Deeds of Arrangement Act 19144 before 1st October 2015 if, immediately before that date, the estate of the debtor who executed the deed of arrangement has not been fully wound up.
SCHEDULES
SCHEDULE 1AMENDMENTS TO SECONDARY LEGISLATION IN CONSEQUENCE OF SECTION 17 OF, AND PART 6 OF SCHEDULE 6 TO THE ACT, SUBJECT TO SAVINGS
The Insolvency Practitioners Tribunal (Conduct of Investigations) Rules 19861
The Insolvency Practitioners Tribunal (Conduct of Investigations) Rules 19865 are revoked.
The Solicitors Recognised Bodies Order 19912
1
The Solicitors Recognised Bodies Order 19916 is amended as follows.
2
In Schedule 1, in respect of the Insolvency Act 1986 omit “and Schedule 7”.
The Limited Liability Partnership Regulations 20013
1
The Limited Liability Partnership Regulations 20017 are amended as follows.
2
In Schedule 3, omit the entry in respect of section 389 A.
3
Omit paragraph 9 of Part 2 of Schedule 6.
The Insolvency Practitioners and Insolvency Services Account (Fees) Order 20034
1
The Insolvency Practitioners and Insolvency Services Account (Fees) Order 20038 is amended as follows.
2
Omit article 3(1), (1A), (2), (3), (4) and (5).
3
Omit article 3(3A).
4
Omit article 4.
The Insolvency Practitioners Regulations 20055
1
The Insolvency Practitioners Regulations 2005 are amended as follows.
2
In regulation 2(1) for the meaning of insolvency practitioner substitute ”a person who is authorised to act as an insolvency practitioner under section 390A of the Act”.
3
Omit regulation 4(2).
4
Omit regulations 5, 6, 7, 8, 8A and 9.
5
Omit regulation 11.
6
For regulation 12(3) substitute “Where, in accordance with sections 390(2) and 390A(2)(b) of the Act a person is qualified to act as an insolvency practitioner by virtue of an authorisation granted by the Department of Enterprise, Trade and Investment for Northern Ireland under Article 352 of the Insolvency (Northern Ireland) Order 1989, this Part applies in relation to that person as if that authorisation had been granted pursuant to section 393 of the Act immediately before 1st October 2015.”.
7
Omit regulation 14.
8
In regulation 15(1) omit paragraph (b).
9
Omit regulation 16.
10
In paragraph 9(2) of Schedule 2 omit sub-paragraph (b).
11
In paragraph 10(1) of Schedule 2 omit sub-paragraph (b).
12
In paragraph 13(2) of Schedule 2 omit sub-paragraph (b).
The Money Laundering Regulations 20076
In regulation 23(1) of the Money Laundering Regulations 20079 omit sub-paragraph (g).
The Legal Services Act 2007 (Designation as a Licensing Authority) (No. 2) Order 20117
In Schedule 2 of the Legal Services Act 2007 (Designation as a Licensing Authority) (No. 2) Order 201110 in respect of the entry for the Insolvency Act 1986 (c.45) omit “and Schedule 7”.
SCHEDULE 2AMENDMENTS TO SECONDARY LEGISLATION IN CONSEQUENCE OF SECTION 17 OF AND PART 6 OF SCHEDULE 6 TO THE ACT
The Insolvent Partnerships Order 19941
1
The Insolvent Partnerships Order 199411 is amended as follows.
2
In Part 1 of Schedule 1 in the modification of—
a
section 1(2) of the 1986 Act, omit “ or authorised to act as nominee,”;
b
section 2(5) of the 1986 Act omit “, or authorised to act as nominee,”;
c
section 4(2) of the 1986 Act omit “, or authorised to act as nominee, ”; and
d
section 7(5) of the 1986 Act omit “or authorised to act as supervisor,”.
The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 20132
In Part 3 of Schedule 2 to the Collective Investment in Transferable Securities (Contractual Scheme) Regulations 201312, after the entry for section 389 insert—
Section 390 (persons not qualified to act as insolvency practitioners) | This section is to be read as if for subsection (2) there were substituted— |
|
SCHEDULE 3OTHER AMENDMENTS TO SECONDARY LEGISLATION IN CONSEQUENCE OF SCHEDULE 6 TO THE ACT
Deeds of Arrangement3
1
The Deeds of Arrangement Fees Order 198413 is revoked.
2
In the High Court and County Courts Jurisdiction Order 199114, omit article 2(6)(e).
3
In Schedule 1 to the Solicitors’ Recognised Bodies Order 1991—
a
in the table headed “Statutes Which Apply to Recognised Bodies”, omit the entry for the Deeds of Arrangement Act 1914; and
b
in the table headed “Statutory Instruments Which Apply to Recognised Bodies”, omit the entry for the Deeds of Arrangement Rules 192515.
4
In regulation 47(2)(e) of the Landfill Tax Regulations 199616, omit “the Deeds of Arrangement Act 1914 or”.
5
In the High Court Enforcement Officers Regulations 200417, in regulation 5(2)(e)(iii), omit “a deed of arrangement under the Deeds of Arrangement Act 1914 or”.
6
In regulation 5 of the Insolvency Practitioners Regulations 2005, in the definition of “insolvency legislation” omit the words “the Deeds of Arrangement Act 1914 and”.
7
In the Pension Protection Fund (Entry Rules) Regulations 200518, omit regulation 6(2).
8
In the Non-Domestic Rating (Unoccupied Property) (England) Regulations 200819, omit regulation 4(j).
9
In the Non-Domestic Rating (Unoccupied Property) (Wales) Regulations 200820, omit paragraph (j) of regulation 4.
10
In the Legal Services Act 2007 (Designation as a Licensing Authority) (No.2) Order 2011, in the table in Schedule 2, omit the entries for—
a
“Deeds of Arrangement Act 1914 (c. 47)”; and
b
“Deeds of Arrangement Rules 1925 (S.I. 1925/795)”.
11
In the Social Care and Social Work Improvement Scotland (Requirements for Care Services) Regulations 201121, omit regulation 6B(2)(c).
12
In the Care and Support (Cross-border Placements) (Business Failure Duties of Scottish Local Authorities) Regulations 201422, omit regulation 4(2)(c).
Company Directors Disqualification4
In the Insolvent Companies (Disqualification of Unfit Directors) Proceedings Rules 198723, in rule 2(5) omit “made against a person who at the date of the application is acting as liquidator, administrator or administrative receiver”.
(This note is not part of the Order)