The Insolvency (Scotland) (Receivership and Winding up) (Amendment) Rules 2021

JurisdictionUK Non-devolved
CitationSI 2021/1025
Year2021

2021 No. 1025

Insolvency, Scotland

The Insolvency (Scotland) (Receivership and Winding up) (Amendment) Rules 2021

Made 8th September 2021

Laid before Parliament 9th September 2021

Coming into force 1st October 2021

The Secretary of State makes the following Rules in exercise of the powers conferred by section 411(1)(b) of the Insolvency Act 19861.

1 Introductory provision

PART 1

Introductory provision

Citation, commencement and interpretation

Citation, commencement and interpretation

S-1 These Rules may be cited as the Insolvency (Scotland)...

1. These Rules may be cited as the Insolvency (Scotland) (Receivership and Winding up) (Amendment) Rules 2021 and come into force on 1st October 2021.

S-2 In these Rules the “Insolvency Rules” means the Insolvency...

2. In these Rules the “Insolvency Rules” means the Insolvency (Scotland) (Receivership and Winding up) Rules 20182.

Extent
S-3 Extent

Extent

3. These Rules extend to Scotland only.

Saving provisions

Saving provisions

S-4 This rule applies where before 1 October 2021— a moratorium...

4.—(1) This rule applies where before 1 October 2021—

(a)

(a) a moratorium under Part A1 of the Insolvency Act 1986 has come into force; or

(b)

(b) in the case of a moratorium for a company to which either section A4 or A5 of the Insolvency Act 19863applies, an application has been made to the court.

(2) Where this rule applies—

(a)

(a) the amendments made by Part 2 of these Rules do not apply; and

(b)

(b) Part 4 of Schedule 4 to the Corporate Insolvency and Governance Act 20204continues to have effect

in relation to that moratorium.

S-5 Nothing in Part 2 of these Rules affects the operation of the...

5. Nothing in Part 2 of these Rules affects the operation of the Insolvency Rules in relation to a moratorium under Schedule A1 to the Insolvency Act 1986 which has come into force before 1st October 2021.

2 Miscellaneous amendments of the Insolvency Rules

PART 2

Miscellaneous amendments of the Insolvency Rules

Amendment of Part 4 of the Insolvency Rules

Amendment of Part 4 of the Insolvency Rules

S-6 Rule 4.4 (additional requirements as to statement of affairs)...

6.—(1) Rule 4.4 (additional requirements as to statement of affairs) is amended as follows.

(2) In paragraph (1), after “must also contain” insert “the following and, in addition, when paragraph (1B) applies, the information specified in that paragraph”.

(3) After paragraph (1) insert—

S-1A

“1A Paragraph (1B) applies if a moratorium under Part A1 of the Act is, or has been, in force for the company at any time within the period of 12 weeks ending with the day on which the resolution for a voluntary winding up is passed.

S-1B

1B Where this paragraph applies—

(a) the statement of affairs must identify which of the debts owed by the company are:

(i) moratorium debts; or

(ii) priority pre-moratorium debts

within the meaning given in section 174A5.

(b) paragraph (1)(c)(iv) has effect as if the reference to preferential creditors included references to moratorium debts and priority pre-moratorium debts within the meaning given by section 174A.

(c) paragraph (1)(d)(i),(ii) and (vii) have effect as if the reference to preferential debts included references to moratorium debts and priority pre-moratorium debts within the meaning given by section 174A.”.

S-7 Rule 4.20 (appointment by creditors or by the company) is...

7.—(1) Rule 4.20 (appointment by creditors or by the company) is amended as follows.

(2) After paragraph (9) insert—

S-10

“10 In the case of a voluntary winding up where, immediately before the company goes into liquidation, a moratorium under Part A1 of the Act is in force for that company, the liquidator must deliver notice of their appointment to the monitor6and such notice must be given within the period of 14 days beginning with the day on which liquidator is appointed.”.

S-8 Rule 4.22 (appointment by the court (section 100(3) or 108)) is...

8.—(1) Rule 4.22 (appointment by the court (section 100(3) or 108)) is amended as follows—

(2) After paragraph (6) insert—

S-7

“7 In the case of a voluntary winding up where, immediately before the company goes into liquidation, a moratorium under Part A1 of the Act is in force for that company, the liquidator must deliver such notice of their appointment to the monitor and such notice must be given within the period of 14 days beginning with the day on which liquidator is appointed.”.

Amendment of Part 5 of the Insolvency Rules

Amendment of Part 5 of the Insolvency Rules

S-9 Rule 5.5 (order of appointment of provisional liquidator-...

9.—(1) Rule 5.5 (order of appointment of provisional liquidator- delivery of copy) is amended as follows.

(2) After paragraph (b) insert—

“(ba)

“(ba) where a moratorium under Part A1 of the Act is in force for the company, the monitor.”.

S-10 Rule 5.10 (termination of appointment) is amended as follows....

10.—(1) Rule 5.10 (termination of appointment) is amended as follows.

(2) After paragraph (5)(a) insert—

“(aa)

“(aa) if a moratorium under Part A1 of the Act is in force for the company, the monitor;”.

S-11 Rule 5.13 (statement of affairs: contents and delivery) is...

11.—(1) Rule 5.13 (statement of affairs: contents and delivery) is amended as follows.

(2) In paragraph (1) after “contain” insert “the following, and where paragraph (1B) applies, the information specified in that paragraph”.

(3) After paragraph (1) insert—

S-1A

“1A Paragraph (1B) applies if a moratorium under Part A1 of the Act is or has been in force for the company at any time within the period of 12 weeks ending with the day on which the winding up petition is presented.

S-1B

1B Where this paragraph applies the statement of affairs must contain the following—

(a) the matters specified in paragraph (1)(a) to (e) and (g); and

(b) the information specified in paragraph (1)(f) but with the effect specified in paragraph (1C).

S-1C

1C Where paragraph (1B) applies—

(a) the summary of...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT