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Insolvency Act 1986 (1986 c 45)

An Act to consolidate the enactments relating to company insolvency and winding up (including the winding up of companies that are not insolvent, and of unregistered companies); enactments relating to the insolvency and bankruptcy of individuals; and other enactments bearing on those two subject matters, including the functions and qualification of insolvency practitioners, the public administration of insolvency, the penalisation and redress of malpractice and wrongdoing, and the avoidance of certain transactions at an undervalue.

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Insolvency Act 1986 (1986 c 45)

An Act to consolidate the enactments relating to company insolvency and winding up (including the winding up of companies that are not insolvent, and of unregistered companies); enactments relating to the insolvency and bankruptcy of individuals; and other enactments bearing on those two subject matters, including the functions and qualification of insolvency practitioners, the public administration of insolvency, the penalisation and redress of malpractice and wrongdoing, and the avoidance of certain transactions at an undervalue.

Quick and comprehensive access to the most accurate, up-to-date legislation.

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Insolvency Act 1986 (1986 c 45)

[Part A1 Moratorium] (ss [A1-[A55)

Part I Company Voluntary Arrangements (ss 1-[7B)

[Part II Administration] (ss [8-27)

[8 Administration]

9 . . . 10 . . . 11 . . . 12 . . . 13 . . . 14 . . . 15 . . . 16 . . . 17 . . . 18 . . . 19 . . . 20 . . . 21 . . . 22 . . . 23 . . . 24 . . . 25 . . . 26 . . . 27 . . .

Part III Receivership (ss [28-[72H)

Part IV Winding Up of Companies Registered under the Companies Acts (ss [73-219)

Part V Winding up of Unregistered Companies (ss [220-229)

Part VI Miscellaneous Provisions Applying to Companies which are Insolvent or in Liquidation (ss 230-[246C)

Part VII Interpretation for First Group of Parts (ss 247-251)

[Part VIIA Debt Relief Orders] (ss [251A-[251X)

Part VIII Individual Voluntary Arrangements (ss 252-[263G)

Part IX Bankruptcy (ss [263H-371)

Part X Individual Insolvency: General Provisions (ss 372-[379C)

Part XI Interpretation for Second Group of Parts (ss 380-385)

Part XII Preferential [and Non-preferential] Debts in Company and Individual Insolvency (ss 386-[387A)

Part XIII Insolvency Practitioners and their Qualification (ss 388-398)

Part XIV Public Administration (England and Wales) (ss [398A-410)

Part XV Subordinate Legislation (ss 411-[422A)

Part XVI Provisions Against Debt Avoidance (England and Wales only) (ss 423-425)

Part XVII Miscellaneous and General (ss 426-434)

[Part 17A Supplementary Provisions] (ss [434A-[434E)

Part XVIII Interpretation (ss 435-[436B)

Part XIX Final Provisions (ss 437-444)

[SCHEDULE ZA1 Moratorium: Eligible Companies]

[SCHEDULE ZA2 Moratorium: Contract or other Instrument Involving Financial Services]

[SCHEDULE A1 . . .]

[SCHEDULE B1 Administration]

SCHEDULE 1 Powers of Administrator or Administrative Receiver

SCHEDULE 2 Powers of a Scottish Receiver (Additional to Those Conferred on him by the Instrument of Charge)

[SCHEDULE 2A Exceptions to Prohibition on Appointment of Administrative Receiver: Supplementary Provisions]

SCHEDULE 3 Orders in Course of Winding Up Pronounced in Vacation (Scotland)

SCHEDULE 4 Powers of Liquidator in a Winding Up

[SCHEDULE 4ZZA Protection of Supplies under Section 233B: Exclusions]

[SCHEDULE 4ZA Conditions for Making a Debt Relief Order]

[SCHEDULE 4ZB Debt Relief Restrictions Orders and Undertakings]

[SCHEDULE 4A Bankruptcy Restrictions Order and Undertaking]

SCHEDULE 5 Powers of Trustee in Bankruptcy

SCHEDULE 6 The Categories of Preferential Debts

SCHEDULE 7 . . .

SCHEDULE 8 Provisions Capable of Inclusion in Company Insolvency Rules

SCHEDULE 9 Provisions Capable of Inclusion in Individual Insolvency Rules

SCHEDULE 10 Punishment of Offences under this Act

SCHEDULE 11 Transitional Provisions and Savings

SCHEDULE 12 Enactments Repealed

SCHEDULE 13 Consequential Amendments of Companies Act 1985

SCHEDULE 14 Consequential Amendments of other Enactments

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Related glossary definitions

Balance sheet insolvency

Where liabilities exceed assets see Insolvency Act 1986 s 123 1 e

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The term used to describe the insolvency of an individual under English insolvency law A person can only be made bankrupt by a court order and is go

Bankruptcy petition Commercial

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Fraudulent trading

The carrying on of the business of a company with intent to defraud creditors of the company or creditors of any other person or for any fraudulent

Insolvency

This can be defined by two alternative tests Insolvency Act 1986 s 123 cash flow test a company is solvent if it can pay its debts as they f

Preferential creditors

Those creditors of a company who fall within the definition of the Insolvency Act 1986 Sch 6 who are due payment of debts from an insolvent company

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A sum of money from the floating charge pool set aside for unsecured creditors in a liquidation administration or administrative receivership found

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