a resolution for voluntary winding up — a resolution passed under either of the paragraphs of subsection (1) Section 84(2)

acquired property — property of the company which directly or indirectly represents the property disposed of Schedule B1, paragraph 70(3)

acquired property — property of the company which directly or indirectly represents the property disposed of Section A31(6)

adjudicator — a person appointed by the Secretary of State under section 398A; “the court”, in relation to any matter, means the court to which, in accordance with section 373 in Part X and the rules, proceedings with respect to that matter are allocated or transferred; “ creditors' decision procedure ” has the meaning given by section 379ZA(11) Section 385(1)

administative receiver — — an administrative receiver as defined by section 29(2) in Chapter I of Part III, or a receiver appointed under section 51 in Chapter II of that Part in a case where the whole (or substantially the whole) of the company’s property is attached by the floating charge; “agent” does not include a person's counsel acting as such; “books and papers” and “books or papers” includes accounts, deeds, writing and documents Section 251

administrative receiver — — a receiver or manager of the whole (or substantially the whole) of a company’s property appointed by or on behalf of the holders of any debentures of the company secured by a charge which, as created, was a floating charge, or by such a charge and one or more other securities; or a person who would be such a receiver or manager but for the appointment of some other person as the receiver of part of the company’s property Section 29(2)

agricultural receiver — a receiver appointed under an agricultural charge Section 436(1)

approved intermediary — an individual for the time being approved by a competent authority to act as an intermediary between a person wishing to make an application for a debt relief order and the official receiver Section 251U(1)

authorised deposit taker — a person with permission under Part IV of the Financial Services and Markets Act 2000 (c. 8) to accept deposits, and “the general prohibition” has the meaning given by section 19 of that Act Schedule B1, paragraph 9(4)

Bankrupt — an individual who has been made bankrupt and, in relation to a bankruptcy order, it means the individual made bankrupt by that order Section 381(1)

Bankruptcy order — an order making an individual bankrupt Section 381(2)

Bankruptcy petition — a petition to the court for a bankruptcy order Section 381(3)

bankruptcy restrictions order — — a bankruptcy restrictions order made under section 155 of the Bankruptcy (Scotland) Act 2016; ... a bankruptcy restrictions order made under paragraph 1 of Schedule 4A to this Act; or a bankruptcy restrictions undertaking entered into under paragraph 7 of that Schedule. “the EU Regulation” is Regulation (EU) 2015/848 of the European Parliament and of the Council on insolvency proceedings as that Regulation has effect in the law of the European Union; “court” is to be construed in accordance with Article 2(6) of the EU Regulation; “insolvency proceedings” is to be construed in accordance with Article 2(4) of the EU Regulation Section 51(6)

bond — — a bond that is within article 77(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, or an alternative finance investment bond within the meaning of article 77A of that Order; “commercial paper” has the meaning given by article 9(3) of that Order Schedule ZA1, paragraph 14(6)

business day — any day other than a Saturday, a Sunday, Christmas Day, Good Friday or a day which is a bank holiday in any part of Great Britain Section 251

business day — any day other than a Saturday, a Sunday, Christmas Day, Good Friday or a day which is a bank holiday in any part of Great Britain Section 390B(10)

business document — — whether in hard copy, electronic or any other form. an invoice, an order for goods or services, a business letter, and an order form Schedule B1, paragraph 45(3)

business document — — whether in hard copy, electronic or any other form. an invoice, an order for goods or services, a business letter, and an order form Section A19(6)

capital market arrangement — an arrangement of a kind described in paragraph 1 of Schedule 2A Section 72B(2)

capital market investment — an investment of a kind described in paragraph 2 or 3 of that Schedule Section 72B(2)

cessation — the time when he ceases to be the company’s administrator Schedule B1, paragraph 99(2)

charitable purpose — any charitable, benevolent or philanthropic purpose, whether or not it is charitable within the meaning of any rule of law Section 242(5)

chattel leasing agreement — an agreement for the bailment or, in Scotland, the hiring of goods which is capable of subsisting for more than 3 months; “contributory” has the meaning given by section 79; “the court”, in relation to a company, means a court having jurisdiction to wind up the company Section 251

company — — a company registered under the Companies Act 2006 in England and Wales or Scotland, a company incorporated in an EEA State ..., or a company not incorporated in an EEA State but having its centre of main interests in a member State (other than Denmark) or in the United Kingdom Schedule B1, paragraph 111(1A)

company — — a company registered under the Companies Act 2006 in England and Wales or Scotland; a company incorporated in an EEA State ...; or a company not incorporated in an EEA State but having its centre of main interests in a member State (other than Denmark) or in the United Kingdom Section 1(4)

company — a company registered under the Companies Act 2006 in England and Wales or Scotland Section 28(1)

company — — a company registered under the Companies Act 2006 in England and Wales or Scotland, or a company that may be wound up under Part 5 of this Act (unregistered companies). “monitor” has the same meaning as in Part A1 (moratorium) Section 388(4)

company — an incorporated company (whether or not a company registered under the Companies Act 2006) which the Court of Session has jurisdiction to wind up; “fixed security”, in relation to any property of a company, means any security, other than a floating charge or a charge having the nature of a floating charge, which on the winding up of the company in Scotland would be treated as an effective security over that property, and (without prejudice to that generality) includes a security over that property, being— a heritable security within the meaning of the Conveyancing and Feudal Reform (Scotland) Act 1970; or a statutory pledge within the meaning given by section 113(1) of the Moveable Transactions (Scotland) Act 2023; “instrument of appointment” has the meaning given by section 53(1) Section 70(1)

company — — a company registered under the Companies Act 2006 in England and Wales or Scotland, or an unregistered company that may be wound up under Part 5 of this Act Section A54(1)

competent authority — a person or body for the time being designated by the Secretary of State for the purposes of granting approvals under this section Section 251U(2)

consent — consent of— each secured creditor of the company, and if the company has unsecured debts, the unsecured creditors of the company Schedule B1, paragraph 108(2)

consent — — consent of each secured creditor of the company, or if the administrator thinks that a distribution may be made to preferential creditors, consent of— each secured creditor of the company, and the preferential creditors of the company Schedule B1, paragraph 108(3)

consent — consent of— each secured creditor of the company, and if the company has unsecured debts, the unsecured creditors of the company Schedule B1, paragraph 78(1)

consent — — consent of each secured creditor of the company, or if the administrator thinks that a distribution may be made to preferential creditors, consent of— each secured creditor of the company, and the preferential creditors of the company Schedule B1, paragraph 78(2)

consolidated situation — the situation that results from an entity being treated, for the purposes of Part 9C rules, Regulation (EU) 575/2013 or CRR rules (as appropriate), as if that entity and one or more other entities formed a single entity; “CRR rules” has the meaning given in section 144A of the Financial Services and Markets Act 2000; “Part 9C rules” has the meaning given in section 143F of the Financial Services and Markets Act 2000 Section 387A(2A)

contract or other instrument involving financial services — a contract or other instrument to which any of the following paragraphs applies Schedule ZA2, paragraph 1

contributory — every person liable to contribute to the assets of a company in the event of its being wound up, and for the purposes of all proceedings for determining, and all proceedings prior to the final determination of, the persons who are to be deemed contributories, includes any person alleged to be a contributory Section 79(1)

corporate member — an insolvent member which is a company; “the court”, in relation to an insolvent partnership, means the court which has jurisdiction to wind up the partnership; “distress” includes use of the procedure in Schedule 12 to the Tribunals, Courts and Enforcement Act 2007, and references to levying distress, seizing goods and related expressions shall be construed accordingly; .. Section 436(1)

creditors' decision procedure — a procedure prescribed or authorised under paragraph 11A of Schedule 9 Section 379ZA(11)

creditor’s petition — a bankruptcy petition under section 264(1)(a) Section 385(1)

criminal bankruptcy order — an order under section 39(1) of the Powers of Criminal Courts Act 1973; “debt” is to be construed in accordance with section 382(3); “the debtor”— in relation to a debt relief order or an application for such an order, has the same meaning as in Part 7A, in relation to a proposal for the purposes of Part VIII, means the individual making or intending to make that proposal, and in relation to a bankruptcy application or a bankruptcy petition, means the individual to whom the application or petition relates; . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Section 385(1)

criminal bankruptcy order — an order under section 39(1) of the Powers of Criminal Courts Act 1973 Section 402(5)

debt relief order — an order made by the official receiver under this Part Section 251X(1)

debt relief order — an order made by the official receiver under Part 7A Section 385(1)

debt relief restrictions undertaking — an order made, or an undertaking accepted, under Schedule 4ZB; “the determination date”, in relation to a debt relief order or an application for a debt relief order, means the date on which the application for the order is determined by the official receiver; “the effective date” has the meaning given in section 251E(7); “excluded debt” is to be construed in accordance with section 251A; “moratorium” and “moratorium period” are to be construed in accordance with sections 251G and 251H; “qualifying debt”, in relation to a debtor, has the meaning given in section 251A(2) Section 251X(1)

debtor — — in relation to an application for a debt relief order, the applicant; and in relation to a debt relief order, the person in relation to whom the order is made; “debt relief restrictions order” and Section 251X(1)

deemed consent procedure — the deemed consent procedure provided for by section 246ZF; “director” includes any person occupying the position of director, by whatever name called; “document” includes summons, notice, order and other legal process, and registers; .. Section 251

deemed consent procedure — the deemed consent procedure provided for by section 379ZB; “determination period” has the meaning given in section 263K(4); “dwelling house” includes any building or part of a building which is occupied as a dwelling and any yard, garden, garage or outhouse belonging to the dwelling house and occupied with it; “estate”, in relation to a bankrupt is to be construed in accordance with section 283 in Chapter II of Part IX; “family”, in relation to a bankrupt, means the persons (if any) who are living with him and are dependent on him Section 385(1)

deposit — rights of the kind described in— paragraph 22 of Schedule 2 to the Financial Services and Markets Act 2000 (deposits), or section 1(2)(b) of the Dormant Bank and Building Society Accounts Act 2008 (balances transferred under that Act to authorised reclaim fund) Schedule 6, paragraph 15C(2)

derivative — borrowed from another act; this instrument states no meaning of its own Section 387A

designated disadvantaged area — an area designated as a disadvantaged area under section 92 of the Finance Act 2001, “engineering operations” includes the formation and laying out of means of access to highways, “project company” has the meaning given by paragraph 7 of Schedule 2A, “step-in rights” has the meaning given by paragraph 6 of that Schedule Section 72DA

develop — to carry out— building operations, any operation for the removal of substances or waste from land and the levelling of the surface of the land, or engineering operations in connection with the activities mentioned in paragraph (a) or (b) Section 72DA(2)

EEA State — a state that is a Contracting Party to the Agreement on the European Economic Area signed at Oporto on 2nd May 1992 as adjusted by the Protocol signed at Brussels on 17th March 1993 Section 436(1)

eligible deposit — a deposit in respect of which the person, or any of the persons, to whom it is owed would be eligible for compensation under the Financial Services Compensation Scheme Schedule 6, paragraph 15C(1)

eligible person — — an individual, or any micro, small and medium-sized enterprise, as defined with regard to the annual turnover criterion referred to in Article 2(1) of the Annex to Commission recommendation 2003/361/EC Schedule 6, paragraph 15C(3)

employees' share scheme — a scheme for encouraging or facilitating the holding of shares in or debentures of a company by or for the benefit of— the bona fide employees or former employees of— the company, any subsidiary of the company, or the company's holding company or any subsidiary of the company's holding company, or the spouses, civil partners, surviving spouses, surviving civil partners, or minor children or step-children of such employees or former employees Section 436(1)

enforcement officer — an individual who is authorised to act as an enforcement officer under the Courts Act2003 Section 183(4)

enforcement officer — an individual who is authorised to act as an enforcement officer under the Courts Act 2003 Section 184(6)

enforcement officer — an individual who is authorised to act as an enforcement officer under the Courts Act 2003 Section 346(9)

excepted petition — a petition under— section 124A, 124B or 124C, or section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in subsection (3)(b) of that section Section A20(3)

excluded debt — a debt of any description prescribed for the purposes of this subsection Section 251A(4)

false statement offence — — an offence under section 2 or 5 of the Perjury Act 1911 (false statements made on oath otherwise than in judicial proceedings or made otherwise than on oath), or an offence under section 44(1) or (2) of the Criminal Law (Consolidation) (Scotland) Act 1995 (false statements made on oath or otherwise than on oath) Section A48(8)

Financial contract — — a contract for the provision of financial services consisting of— lending (including the factoring and financing of commercial transactions), financial leasing, or providing guarantees or commitments; a securities contract, including— a contract for the purchase, sale or loan of a security or group or index of securities; an option on a security or group or index of securities; a repurchase or reverse repurchase transaction on any such security, group or index; a commodities contract, including— a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery; an option on a commodity or group or index of commodities; a repurchase or reverse repurchase transaction on any such commodity, group or index; a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date; a swap agreement, including— a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or… Schedule 4ZZA, Part 3, paragraph 13(2)

Financial contract — — a contract for the provision of financial services consisting of— lending (including the factoring and financing of commercial transactions), financial leasing, or providing guarantees or commitments; a securities contract, including— a contract for the purchase, sale or loan of a security, group or index of securities; an option on a security or group or index of securities; a repurchase or reverse repurchase transaction on any such security, group or index; a commodities contract, including— a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery; an option on a commodity or group or index of commodities; a repurchase or reverse repurchase transaction on any such commodity, group or index; a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date; a swap agreement, including— a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or… Schedule ZA2, paragraph 2(2)

fine — the same as in the Magistrates’ Courts Act 1980; and “personal injuries” includes death and any disease or other impairment of a person’s physical or mental condition. proceedings in the family court; and family proceedings within the meaning of Part V of the Matrimonial and Family Proceedings Act 1984 Section 281(8)

floating charge — 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 Schedule B1, paragraph 111(1)

floating charge — a charge which is a floating charge on its creation and which is created after the first order under subsection (2)(a) comes into force Section 176A(9)

floating charge — a charge which, as created, was a floating charge an includes a floating charge within section 462 of the Companies Act (Scottish floating charges) Section 251

full authorisation — authorisation to act as an insolvency practitioner in relation to companies, individuals and insolvent partnerships; “partially authorised” and “fully authorised” are to be construed accordingly Section 390A(1)

income payments agreement — a written agreement between a bankrupt and his trustee or between a bankrupt and the official receiver which provides— that the bankrupt is to pay to the trustee or the official receiver an amount equal to a specified part or proportion of the bankrupt’s income for a specified period, or that a third person is to pay to the trustee or the official receiver a specified proportion of money due to the bankrupt by way of income for a specified period Section 310A(1)

individual member — an insolvent member who is an individual Section 436(1)

inland revenue official — any inspector or collector of taxes appointed by the Commissioners of Inland Revenue or any person appointed by the Commissioners to serve in any other capacity Section 369(6)

insolvency administration order — an order for the administration in bankruptcy of the insolvent estate of a deceased debtor (being an individual at the date of his death) Section 385(1)

insolvency administration petition — a petition for an insolvency administration order; “secured” and related expressions are to be construed in accordance with section 383 Section 385(1)

insolvency law — — and references in this subsection to any enactment include, in relation to any time before the coming into force of that enactment the corresponding enactment in force at that time. in relation to England and Wales, provision extending to England and Wales and made by or under this Act or sections 1A 6 to 10, 12 to 15, 19(c) and 20 (with Schedule 1) of the Company Directors Disqualification Act 1986 and sections 1 to 17 of that Act as they apply for the purposes of those provisions of that Act; in relation to Scotland, provision extending to Scotland and made by or under this Act, sections 1A 6 to 10, 12 to 15, 19(c) and 20 (with Schedule 1) of the Company Directors Disqualification Act 1986 and sections 1 to 17 of that Act as they apply for the purposes of those provisions of that Act, Part XVIII of the Companies Act or the Bankruptcy (Scotland) Act 2016; in relation to Northern Ireland, provision made by or under the Insolvency (Northern Ireland) Order 1989or the Company Directors Disqualification (Northern Ireland) Order 2002; in relation to any relevant country or territory, so much of the law of that country or territory as corresponds to provisions falling within any of… Section 426(10)

insolvency office-holder — — in a case where a company enters administration, the administrator; in a case where a voluntary arrangement under Part 1 takes effect in relation to a company, the supervisor of the voluntary arrangement Section 233A(9)

insolvency order — — in the case of an insolvent partnership or a corporate member, a winding-up order; and in the case of an individual member, a bankruptcy order Section 436(1)

insolvency petition — in the case of a petition presented to the court— where the petition is presented in conjunction with a petition for the winding up of the partnership by the court as an unregistered company under the Act; against a corporate member, a petition for its winding up by the court; against an individual member, a petition for a bankruptcy order to be made against that individual Section 436(1)

insolvency proceedings — any proceedings under the Act, this Order or the Insolvency Rules 1986 Section 436(1)

insolvency services — the services of persons acting as insolvency practitioners or carrying out under the law of Northern Ireland functions corresponding to those mentioned in section 388(1) or (2) in Part XIII, in their capacity as such . . . Section 428(3)

insolvent member — a member of an insolvent partnership, against whom an insolvency petition is being or has been presented Section 436(1)

intermediate arrangement — a pension arrangement, other than the shared arrangement or the destination arrangement, in relation to which the following conditions are fulfilled— there was a time when the transferee had rights under the arrangement that were derived (directly or indirectly) from the pension-sharing transaction, and the transferee’s rights under the destination arrangement (so far as derived from the pension-sharing transaction) are to any extent derived (directly or indirectly) from the rights mentioned in paragraph (a) Section 342F(4)

investment bank — a company or other entity that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of— safeguarding and administering investments, managing an AIF or a UCITS, acting as trustee or depositary of an AIF or a UCITS, dealing in investments as principal, or dealing in investments as agent; “investment firm” has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act; “regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section Schedule 4ZZA, Part 2, paragraph 6(2)

investment bank — a company that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of— but does not include a company that has permission to arrange for one or more others to carry on the activity mentioned in paragraph (a) if it does not otherwise have permission to carry on any of the activities mentioned in paragraphs (a) to (e); safeguarding and administering investments, managing an AIF or a UCITS, acting as trustee or depositary of an AIF or a UCITS, dealing in investments as principal, or dealing in investments as agent, “investment firm” has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act; “regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section Schedule ZA1, paragraph 6(2)

joint bankruptcy petition — a petition by virtue of article 11 of this Order Section 436(1)

joint debt — a debt of an insolvent partnership in respect of which an order is made by virtue of Part IV or V of this Order Section 436(1)

joint estate — the partnership property of an insolvent partnership in respect of which an order is made by virtue of Part IV or V of this Order Section 436(1)

joint expenses — expenses incurred in the winding up of an insolvent partnership or in the winding up of the business of an insolvent partnership and the administration of its property; “limited partner” has the same meaning as in the Limited Partnerships Act 1907 Section 436(1)

liability — (subject to subsection (3) above) a liability to pay money or money’s worth, including any liability under an enactment, any liability for breach of trust, any liability in contract, tort or bailment and any liability arising out of an obligation to make restitution Section 382(4)

liability — (subject to subsection (2)) a liability to pay money or money’s worth, including any liability under an enactment, a liability for breach of trust, any liability in contract, tort, delict or bailment, and any liability arising out of an obligation to make restitution; “money purchase scheme” has the meaning given by section 181(1) of the Pension Schemes Act 1993; “the monitor”, in relation to a moratorium, means the person who has the functions of the monitor in relation to the moratorium (see also section A40 for cases where two or more persons act as the monitor) Section A54(1)

listed — admitted to the official list within the meaning given by section 103(1) of the Financial Services and Markets Act 2000 (c. 8) (interpretation) Schedule 2A, paragraph 2(2)

listed — admitted to the official list within the meaning given by section 103(1) of the Financial Services and Markets Act 2000 (interpretation) Schedule ZA1, paragraph 14(3)

management power — a power which could be exercised so as to interfere with the exercise of the administrator’s powers, it is immaterial whether the power is conferred by an enactment or an instrument, and consent may be general or specific Schedule B1, paragraph 64(2)

market value — the amount which would be realised on a sale of property in the open market by a willing vendor Schedule B1, paragraph 111(1)

member — a member of a partnership and any person who is liable as a partner within the meaning of section 14 of the Partnership Act 1890; “modifications” includes additions, alterations and omissions and cognate expressions shall be construed accordingly; “officer”, in relation to an insolvent partnership, means— a member; or a person who has management or control of the partnership business; “partnership property” has the same meaning as in the Partnership Act 1890 Section 436(1)

moratorium — a moratorium under this Part; “moratorium debt” has the meaning given by section A53; “occupational pension scheme” has the meaning given by section 1 of the Pension Schemes Act 1993; “pension scheme” has the meaning given by section 1 of the Pension Schemes Act 1993; “pre-moratorium debt” has the meaning given by section A53 Section A54(1)

non-UK branch — a branch, as defined in Article 4.1(17) of the capital requirements regulation, which is established outside the United Kingdom Schedule 6, paragraph 15C(4)

officer who is in default — any officer of the company who knowingly and wilfully authorises or permits the default, refusal or contravention mentioned in the enactment Section 430(5)

on a consolidated basis — on the basis of the consolidated situation Section 387A(2A)

ordinary administration — the insolvency procedure provided for by Schedule B1 Section A50(9)

ordinary non-preferential debts — non-preferential debts which are neither secondary non-preferential debts nor tertiary non-preferential debts Section 387A(3)

other debt management arrangements — — an administration order under Part 6 of the County Courts Act 1984; an enforcement restriction order under Part 6A of that Act; a debt repayment plan arranged in accordance with a debt management scheme that is approved under Chapter 4 of Part 5 of the Tribunals, Courts and Enforcement Act 2007 Section 251F(3)

partial authorisation — authorisation to act as an insolvency practitioner— only in relation to companies, or only in relation to individuals Section 390A(1)

penalty — a financial penalty under this section Section 391F(6)

pension-sharing transaction — an order or provision falling within section 28(1) of the Welfare Reform and Pensions Act 1999 (orders and agreements which activate pension-sharing); “shared arrangement”, in relation to a pension-sharing transaction, means the pension arrangement to which the transaction relates; “transferee”, in relation to a pension-sharing transaction, means the person for whose benefit the transaction is made; “transferor”, in relation to a pension-sharing transaction, means the person to whose rights the transaction relates Section 342D(9)

permitted period — the period beginning with the day on which the person became aware as mentioned in subsection (3) or (4) and ending on the earlier of— the expiry of the period of 6 weeks beginning with the day on which the person applies to the court as mentioned in subsection (9)(a) or (b), and the day on which the court disposes of the application (by granting or refusing it); “replacement order” has the meaning given by subsection (6) Section 390B(10)

postponed debt — a debt the payment of which is postponed by or under any provision of the Act or of any other enactment; “property” includes money, goods, things in action, land and every description of property wherever situated and also obligations and every description of interest, whether present or future or vested or contingent, arising out of, or incidental to, property; “records” includes computer records and other non-documentary records Section 436(1)

PRA-regulated company — a regulated company which— is, or has been, a PRA-authorised person, is, or has been, an appointed representative within the meaning given by section 39 of the Financial Services and Markets Act 2000, whose principal (or one of whose principals) is, or was, a PRA-authorised person, or is carrying on, or has carried on, a PRA-regulated activity (within the meaning of section 22A of that Act) in contravention of the general prohibition; “regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section Section A49(13)

pre-moratorium creditor — a creditor in respect of a pre-moratorium debt— for which the company has a payment holiday during the moratorium (see section A18), and which has not been paid or otherwise discharged Section A12(4)

prescribed — prescribed by regulations under the Value Added Tax Act 1994 Schedule 6, paragraph 3

prescribed — prescribed by order by the Secretary of State Section 176A(9)

prescribed — prescribed by the rules; “qualifying decision procedure” has the meaning given by section 246ZE(11); “receiver”, in the expression “receiver or manager”, does not include a receiver appointed under section 51 in Chapter II of Part III Section 251

prescribed — prescribed by regulations Section 342C(7)

prescribed — prescribed by regulations Section 342F(9)

prescribed — prescribed by the rules Section 384(1)

prescribed — prescribed by regulations made by statutory instrument by the Secretary of State Section 38(4)

prescribed — prescribed by regulations made under this Chapter by the Secretary of State Section 70(1)

prescribed fee — the fee prescribed by regulations made under this Chapter by the Secretary of State Section 70(1)

priority pre-moratorium debt — — any pre-moratorium debt that is payable in respect of— the monitor’s remuneration or expenses, goods or services supplied during the moratorium, rent in respect of a period during the moratorium, or wages or salary arising under a contract of employment, so far as relating to a period of employment before or during the moratorium, any pre-moratorium debt that— consists of a liability to make a redundancy payment, and fell due before or during the moratorium, and any pre-moratorium debt that— arises under a contract or other instrument involving financial services, fell due before or during the moratorium, and is not relevant accelerated debt (see subsection (4)) Section 174A(3)

prosecuting authority — the Director of Public Prosecutions or the Secretary of State Section 262B

prosecuting authority — the Director of Public Prosecutions, the Lord Advocate or the Secretary of State Section 7A

prosecuting authority — the Director of Public Prosecutions, the Lord Advocate or the Secretary of State Section A48(10)

public body — — a body which exercises public functions, a body specified for the purposes of this paragraph by the Secretary of State, and a body within a class specified for the purposes of this paragraph by the Secretary of State Schedule 2A, paragraph 9(1)

public body — — a body which exercises public functions, a body specified for the purposes of this paragraph by the Secretary of State, or a body within a class specified for the purposes of this paragraph by the Secretary of State Schedule ZA1, paragraph 16(2)

public-private partnership project — a project— the resources for which are provided partly by one or more public bodies and partly by one or more private persons, or which is designed wholly or mainly for the purpose of assisting a public body to discharge a function Schedule ZA1, paragraph 16(1)

public-private partnership project — a project— the resources for which are provided partly by one or more public bodies and partly by one or more private persons, or which is designed wholly or mainly for the purpose of assisting a public body to discharge a function Section 72C(2)

qualified person — a person qualified to act as an insolvency practitioner; “unable to pay its debts”— in relation to a registered company, has the same meaning as in Part 4 (see section 123); in relation to an unregistered company, has the same meaning as in Part 5 (see sections 222 to 224) Section A54(1)

qualifying debt — (subject to subsection (3)) a debt which— is for a liquidated sum payable either immediately or at some certain future time; and is not an excluded debt Section 251A(2)

qualifying decision procedure — a procedure prescribed or authorised under paragraph 8A of Schedule 8 Section 246ZE(11)

rated — rated for the purposes of investment by an internationally recognised rating agency Schedule 2A, paragraph 2(2)

rated — rated for the purposes of investment by an internationally recognised rating agency Schedule ZA1, paragraph 14(3)

receiver — a receiver of such part of the property of the company as is subject to the floating charge by virtue of which he has been appointed under section 51 Section 70(1)

redundancy payment — — a redundancy payment under Part 11 of the Employment Rights Act 1996 or Part 12 of the Employment Rights (Northern Ireland) Order 1996, or a payment made to a person who agrees to the termination of their employment in circumstances where they would have been entitled to a redundancy payment under that Part if dismissed; “wages or salary” includes— a sum payable in respect of a period of holiday (for which purpose the sum is to be treated as relating to the period by reference to which the entitlement to holiday accrued), a sum payable in respect of a period of absence through illness or other good cause, a sum payable in lieu of holiday, and a contribution to an occupational pension scheme Section A18(7)

register — the register kept by the registrar of companies for the purposes of Chapter 2 of Part 25 of the Companies Act 2006 Section 70(1)

registered office — the place which has longest been the company’s registered office during the 6 months immediately preceding the presentation of the petition for winding up Section 120(4)

regulated business — a business of a kind listed in paragraph 10 of Schedule 2A, “step-in rights” has the meaning given by paragraph 6 of that Schedule, and “project company” has the meaning given by paragraph 7 of that Schedule Section 72D(2)

regulated company — a company which— is, or has been, an authorised person within the meaning given by section 31 of the Financial Services and Markets Act 2000, is, or has been, an appointed representative within the meaning given by section 39 of that Act, or is carrying on, or has carried on, a regulated activity in contravention of the general prohibition within the meaning given by section 19 of that Act Section A49(13)

regulations — regulations made by the Secretary of State Section 342C(7)

regulations — regulations made by the Secretary of State Section 342F(9)

regulator — the Financial Conduct Authority or the Prudential Regulation Authority Section A49(13)

Regulatory objectives — the objectives of— having a system of regulating persons acting as insolvency practitioners that— secures fair treatment for persons affected by their acts and omissions, reflects the regulatory principles, and ensures consistent outcomes, encouraging an independent and competitive insolvency-practitioner profession whose members— provide high quality services at a cost to the recipient which is fair and reasonable, act transparently and with integrity, and consider the interests of all creditors in any particular case, promoting the maximisation of the value of returns to creditors and promptness in making those returns, and protecting and promoting the public interest Section 391C(3)

regulatory principles — — the principles that regulatory activities should be transparent, accountable, proportionate, consistent and targeted only at cases in which action is needed, and any other principle appearing to the body concerned (in the case of the duty under section 391B(1)), or to the Secretary of State (in the case of the duty under section 391B(2)), to lead to best regulatory practice Section 391C(4)

relevant accelerated debt — any pre-moratorium debt that fell due during the relevant period by reason of the operation of, or the exercise of rights under, an acceleration or early termination clause in a contract or other instrument involving financial services Section 174A(4)

relevant contributions — contributions to the arrangement or any other pension arrangement— which the individual has at any time made on his own behalf, or which have at any time been made on his behalf Section 342A(5)

Relevant contributories — the contributories who, if the decision were to be made by a qualifying decision procedure, would be entitled to vote in the procedure Section 246ZF(8)

relevant country or territory — — any of the Channel Islands or the Isle of Man, or any country or territory designated for the purposes of this section by the Secretary of State by order made by statutory instrument Section 426(11)

Relevant creditors — the creditors who, if the decision were to be made by a qualifying decision procedure, would be entitled to vote in the procedure Section 246ZF(7)

Relevant creditors — the creditors who, if the decision were to be made by a creditors' decision procedure, would be entitled to vote in the procedure Section 379ZB(7)

relevant day — if the alienation has the effect of favouring— a person who is an associate (within the meaning of the Bankruptcy (Scotland) Act 2016) of the company, a day not earlier than 5 years before the date on which— the winding up of the company commences, or as the case may be, the company enters administration; or any other person, a day not earlier than 2 years before that date Section 242(3)

relevant financial institution — any of the following— a credit institution, an investment firm, a financial holding company, a mixed financial holding company, an investment holding company, a financial institution which is— a subsidiary of an entity referred to in paragraphs (a) to (da), and covered by the supervision of that entity on a consolidated basis by the Financial Conduct Authority in accordance with Part 9C rules or by the Prudential Regulation Authority in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms or CRR rules, or, a mixed-activity holding company Section 387A(1)

relevant offence — a criminal offence punishable with imprisonment for more than two years or punishable on summary conviction with imprisonment for more than three months or with a fine of more than level 5 on the standard scale (if not calculated on a daily basis) or with a fine of more than £100 a day Section 422A

relevant payments — payments in respect of pre-moratorium debts for which the company has a payment holiday during the moratorium (see section A18) Section A28(2)

relevant period — the period between— the start of the period of two years ending with the application date; and the determination date Section 251R(3)

relevant period — — as the case may be. the moratorium period relating to the debt relief order, or the period for which a debt relief restrictions order is in force in respect of the person in respect of whom the debt relief order is made Section 251S(3)

relevant person — — a person who is or has been an officer of the company, a person who took part in the formation of the company during the period of one year ending with the date on which the company enters administration, a person employed by the company during that period, and a person who is or has been during that period an officer or employee of a company which is or has been during that year an officer of the company Schedule B1, paragraph 47(3)

relevant petition — a petition under— section 124A (winding up on grounds of public interest), section 124B (winding up of SE), or section 124C (winding up of SCE) Schedule ZA1, paragraph 2(4)

relevant qualifying decision procedure — the qualifying decision procedure in which the company's creditors decide whether to approve a voluntary arrangement; references to a decision made in the relevant qualifying decision procedure include any other decision made in that qualifying decision procedure Section 6(1A)

responsible insolvency practitioner — — and in either case includes the official receiver when so acting; in winding up, the liquidator of an insolvent partnership or corporate member; and in bankruptcy, the trustee of the estate of an individual member Section 436(1)

retention of title agreement — an agreement for the sale of goods to a company, being an agreement— which does not constitute a charge on the goods, but under which, if the seller is not paid and the company is wound up, the seller will have priority over all other creditors of the company as respects the goods or any property representing the goods Section 251

secondary non-preferential debts — non-preferential debts issued under an instrument where— the original contractual maturity of the instrument is of at least one year, the instrument is not a derivative and contains no embedded derivative, and the relevant contractual documentation and where applicable the prospectus related to the issue of the debts explain the priority of the debts under this Act Section 387A(3)

secured debenture — a bond, debenture, debenture stock or other security which, either itself or by reference to any other instrument, creates a floating charge over all or any part of the property of the company, but does not include a security which creates no charge other than a fixed security Section 70(1)

security — — in relation to England and Wales, any mortgage, charge, lien or other security, and in relation to Scotland, any security (whether heritable or moveable), any floating charge and any right of lien or preference and any right of retention (other than a right of compensation or set off) Section 248

security — any mortgage, charge, lien or other security Section 425(4)

separate debt — a debt for which a member of a partnership is liable, other than a joint debt Section 436(1)

separate estate — the property of an insolvent member against whom an insolvency order has been made Section 436(1)

separate expenses — expenses incurred in the winding up of a corporate member, or in the bankruptcy of an individual member; and “subordinate legislation” has the same meaning as in the Interpretation Act 1978; and “transaction” includes a gift, agreement or arrangement, and references to entering into a transaction shall be construed accordingly Section 436(1)

sequestration — sequestration under the Bankruptcy (Scotland) Act 2016 Section 388(4)

series of secured debentures — two or more secured debentures created as a series by the company in such a manner that the holders thereof are entitled pari passu to the benefit of the floating charge Section 70(1)

special administration regime — provision made by an enactment for an insolvency procedure that— is similar or corresponds to ordinary administration, and provides for the administrator to have one or more special objectives instead of or in addition to the objectives of ordinary administration Section A50(9)

specified debt — a debt specified in the application Section 251C(8)

specified debt — a debt specified in the application Section 251D(7)

specified maximum amount — an amount equal to the greater of— £5000, and 1% of the value of the debts and other liabilities owed by the company to its unsecured creditors when the moratorium began, to the extent that the amount of such debts and liabilities can be ascertained at that time Section A28(2)

substance — any natural or artificial substance whether in solid or liquid form or in the form of a gas or vapour, and “waste” includes any waste materials, spoil, refuse or other matter deposited on land Section 72DA

survivor — the person who, immediately before the death, was beneficially entitled as joint tenant with the deceased or, if the person who was so entitled dies after the making of the insolvency administration order, his personal representatives Section 421A(7)

tertiary non-preferential debts — all subordinated debts, including (but not limited to) debts under Common Equity Tier 1 instruments, Additional Tier 1 instruments and Tier 2 instruments (all within the meaning of Part 1 of the Banking Act 2009) Section 387A(3)

the appointed day — the day of which this Act comes into force under section 443; “associate” has the meaning given by section 435; “body corporate” includes a body incorporated outside Great Britain, but does not include— a corporation sole, or a partnership that, whether or not a legal person, is not regarded as a body corporate under the law by which it is governed; “business” includes a trade or profession Section 436(1)

the appropriate authority — — in the case of a company registered in England and Wales, the Secretary of State, and in the case of a company registered in Scotland, the Lord Advocate. For this purpose— “agent” includes any banker or solicitor of the company and any person employed by the company as auditor, whether that person is or is not an officer of the company Section 7A

the appropriate regulator — — where the regulated company is a PRA-regulated company, each of the Financial Conduct Authority and the Prudential Regulation Authority, and where the regulated company is not a PRA-regulated company, the Financial Conduct Authority; “PRA-authorised person” has the meaning given by section 2B(5) of the Financial Services and Markets Act 2000 Section A49(13)

the capital requirements regulation — Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26th June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 , as it forms part of assimilated law. “credit institution” has the meaning given in Article 4.1(1) of the capital requirements regulation Schedule 6, paragraph 15C(4)

the commencement of the winding up of the company — where it is being wound up by the court, the day on which the winding-up order is made Section 185(3)

the Commissioners — the Commissioners for Her Majesty's Revenue and Customs Schedule 6, paragraph 15D(4)

the Companies Act — the Companies Act 1985 Section 436(1)

the Companies Acts — the Companies Acts (as defined in section 2 of the Companies Act 2006) as they have effect in Great Britain; “conditional sale agreement” and “hire-purchase agreement” have the same meanings as in the Consumer Credit Act 1974 Section 436(1)

the company — the transferor company, and any appointment by the incorporated provisions directed to be made under the hand of the secretary or any two of the directors may be made in writing by the liquidator (or, if there is more than one liquidator, then any two or more of them) Section 111(4)

the court — any court having jurisdiction to wind up companies; and on an application for leave under that subsection, the Secretary of State or the official receiver may appear and call the attention of the court to any matters which seem to him to be relevant Section 216(5)

the court — the court which has jurisdiction in the bankruptcy proceedings Section 349A(4)

the court — the High Court or, in Scotland, the Court of Session Section 391H(8)

the court — the High Court or, in Scotland, the Court of Session; “relevant recognised professional body”, in relation to a person who is acting as an insolvency practitioner, means the recognised professional body by virtue of which the person is authorised so to act Section 391O(5)

the court — the High Court or, in Scotland, the Court of Session Section 391T(3)

the court — the High Court or— if the person entering into the transaction is an individual, any other court which would have jurisdiction in relation to a bankruptcy petition relating to him; if that person is a body capable of being wound up under Part IV or V of this Act, any other court having jurisdiction to wind it up Section 423(4)

the court — such court as is prescribed; “eligible”, in relation to a company, has the meaning given by Schedule ZA1; “employer”, in relation to a pension scheme— in sections A8(2)(c), A17(8)(c) and A39(8)(c), means an employer within the meaning of section 318(1) of the Pensions Act 2004; elsewhere in this Part, has the same meaning that it has for the purposes of Part 2 of the Pensions Act 2004 (see section 318(1) and (4) of that Act); “enactment” includes an Act of the Scottish Parliament and an instrument made under such an Act; “hire-purchase agreement” includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement Section A54(1)

the debtor — the company or the individual concerned Section 386(2)

the earlier bankruptcy — the bankruptcy (or, as the case may be, most recent bankruptcy) from which the bankrupt has not been discharged at the commencement of the later bankruptcy Section 334(1)

the EU Regulation — Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings as it forms part of domestic law on and after exit day Section 436(1)

the existing trustee — the trustee (if any) of the bankrupt’s estate for the purposes of the earlier bankruptcy Section 334(1)

The filing date — the date on which documents are filed with the court under section A3, A4 or A5 Schedule ZA1, paragraph 19(3)

the former administrator — the person referred to in sub-paragraph (1) Schedule B1, paragraph 99(2)

the former enactments — so much of the Companies Act 1985 as is repealed and replaced by this Act, the Insolvency Act 1985 and the other enactments repealed by this Act Schedule 11, Part V, paragraph 22

the former law — the Companies Act 1985 and so much of this Act as replaces provisions of that Act (without the amendments in paragraphs 15 to 17 of Schedule 6 to the Insolvency Act 1985, or the associated repeals by that Act), and any provision of the Insolvency Act 1985 which was in force before the appointed day Schedule 11, Part I, paragraph 2(2)

the former law — the Companies Act 1985 and so much of this Act as replaces provisions of that Act (without the amendments in paragraphs 18 to 22 of Schedule 6 to the Insolvency Act 1985 or the associated repeals made by the Act), and any provision of the Insolvency Act 1985 which was in force before the appointed day Schedule 11, Part I, paragraph 3(2)

the former law — Parts XX and XXI of the the Companies Act 1985(without the amendments in paragraphs 23 to 52 of Schedule 6 to the Insolvency Act 1985, or the associated repeals made by the Act) Schedule 11, Part I, paragraph 4(2)

the Gazette — — as respects companies registered in England and Wales, the London Gazette; as respects companies registered in Scotland, the Edinburgh Gazette; . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... “officer”, in relation to a body corporate, includes a director, manager or secretary; “the official rate”, in relation to interest, means the rate payable under section 189(4) Section 251

the initial period — the period between the making of the bankruptcy application or (as the case may be) the presentation of the bankruptcy petition and the commencement of the bankruptcy; ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Section 351

the Insolvency Act — the Insolvency Act 1986; and in the following provisions of this Act, namely, sections 375(1)(b), 425(6)(a), 440, 449(1)(a) and (d), 460(2), 675, 676, 677, 699(1), 728 and Schedule 21, paragraph 6(1), the words “this Act” are to be read as including Part I to VII of that Act, sections 411, 413, 414, 416 and 417 in Part XV of that Act, and also the Company Directors Disqualification Act 1986 Schedule 13, Part II, paragraph 735A(1)

the later bankruptcy — the bankruptcy arising from that order Section 334(1)

the office-holder — the administrator, the administrative receiver, ... the supervisor of the voluntary arrangement, the liquidator or the provisional liquidator, as the case may be Section 233(1)

the office-holder — the administrator, the administrative receiver, the liquidator or the provisional liquidator, as the case may be. the company enters administration, an administrative receiver is appointed, or the company goes into liquidation, or a provisional liquidator is appointed Section 234(1)

the office-holder — the administrator or the liquidator, as the case may be. the company enters administration, the company goes into liquidation Section 238(1)

the office-holder — the administrator, the liquidator or the provisional liquidator, as the case may be Section 246(1)

the office-holder — — the monitor in relation to a moratorium under Part A1, the liquidator, provisional liquidator, administrator, receiver (appointed under section 51), or administrative receiver of a company, or where a voluntary arrangement in relation to a company is proposed or has taken effect under Part 1, the nominee or the supervisor of the voluntary arrangement Section 246B(3)

the office-holder — the administrator or the liquidator, as the case may be. the company enters administration, or the company goes into liquidation Section 246ZD(1)

the office-holder — the official receiver, the trustee in bankruptcy, the interim receiver or the supervisor of the voluntary arrangement, as the case may be. a bankruptcy order is made against an individual or an interim receiver of an individual’s property is appointed, or a voluntary arrangement proposed by an individual is approved under Part VIII, ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Section 372(1)

the office-holder — the official receiver, the trustee in bankruptcy, the interim receiver, the nominee or the supervisor of the voluntary arrangement, as the case may be. a bankruptcy order is made against an individual or an interim receiver of an individual's property is appointed, or a voluntary arrangement in relation to an individual is proposed or is approved under Part 8 Section 379B(1)

the purpose of administration — an objective specified in paragraph 3, and “unable to pay its debts” has the meaning given by section 123 Schedule B1, paragraph 111(1)

the recovery provisions — this section and sections 342A and 342B Section 342C(7)

the register — the register maintained under section 251W; “specified qualifying debt” has the meaning given in section 251G(1) Section 251X(1)

the relevant date — — in a case where a provisional liquidator is appointed, the date of his appointment; and in a case where no such appointment is made, the date of the winding-up order Section 131(6)

The relevant day — the day on which the liquidator was nominated by the company or the day on which he first became aware of the default, whichever is the later Section 166(6)

the relevant period — the period— beginning with the day on which the statement under section A6(1)(e) is made, and ending with the last day of the moratorium Section 174A(4)

the relevant persons — — the registrar of companies, every creditor of the company of whose claim the monitor is aware, in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by section 126 of the Pensions Act 2004, the Board of the Pension Protection Fund Section A17(8)

the rules — rules under section 411 in Part XV; and “shadow director”, in relation to a company, means a person in accordance with whose directions or instructions the directors of the company are accustomed to act , but so that a person is not deemed a shadow director by reason only that the directors act— on advice given by that person in a professional capacity; in accordance with instructions, a direction, guidance or advice given by that person in the exercise of a function conferred by or under an enactment (within the meaning given by section 1293 of the Companies Act 2006); in accordance with guidance or advice given by that person in that person's capacity as a Minister of the Crown (within the meaning of the Ministers of the Crown Act 1975) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Section 251

the rules — rules made under section 412 in Part XV Section 384(1)

the Rules — the Insolvency (England and Wales) Rules 2016 and “the trustee”, in relation to a bankruptcy and the bankrupt, means the trustee of the bankrupt’s estate Section 385(1)

traded — admitted to trading on a market established under the rules of a recognised investment exchange or on a foreign market Schedule 2A, paragraph 2(2)

traded — admitted to trading on a market established under the rules of a recognised investment exchange or on a foreign market Schedule ZA1, paragraph 14(3)

trading record — a book, document or record which shows or explains the transactions or financial position of a person's business, including— a periodic record of cash paid and received, a statement of periodic stock-taking, and except in the case of goods sold by way of retail trade, a record of goods sold and purchased which identifies the buyer and seller or enables them to be identified Section 251P(5)

trading record — a book, document or record which shows or explains the transactions or financial position of a person’s business, including— a periodic record of cash paid and received, a statement of periodic stock-taking, and except in the case of goods sold by way of retail trade, a record of goods sold and purchased which identifies the buyer and seller or enables them to be identified Section 355(5)

trustee of the partnership — a person authorised by order made by virtue of article 11 of this Order to wind up the business of an insolvent partnership and to administer its property Section 436(1)

UK branch — a branch, as so defined, which is established in the United Kingdom Schedule 6, paragraph 15C(4)

utility project — a project designed wholly or mainly for the purpose of a regulated business Section 72D(2)

value lost to the estate — the amount which, if paid to the trustee, would in the court’s opinion restore the position to what it would have been if the deceased had been made bankrupt immediately before his death Section 421A(9)

worker — an individual who is— a worker within the meaning of section 230(3) of the Employment Rights Act 1996, or an agency worker Section A21(6)