The Insolvency Act 2000 (Commencement No. 3 and Transitional Provisions) Order 2002

• Citation: S.I. 2002/2711
• Sections: 5

Section 1 Citation and interpretation

(1) This Order may be cited as the Insolvency Act 2000 (Commencement No. 3 and Transitional Provisions) Order 2002.

(2) In this Order, except where contrary provision is made, references to sections and Schedules are references to sections of, and Schedules to, the Insolvency Act 2000.

(3) In this Order—

“appointed day” means the day appointed for the coming into force of the provisions of the Insolvency Act 2000 referred to in article 2;

“ the Act ” means the Insolvency Act 1986 ;

“the Insolvency Rules ” means the Insolvency Rules 1986 ; and

“the Insolvency (Scotland) Rules ” means the Insolvency (Scotland) Rules 1986 .

Section 2 Appointed day

Subject to articles 3, 4 and 5, 1st January 2003 is the day appointed for the coming into force of the whole of the Insolvency Act 2000 in so far as it is not already in force.

Section 3 Transitional provisions

(1) In a case where—

(a) a proposal is made by the directors of a company and before the appointed day the intended nominee has endorsed a copy of the written notice of the proposal under Rule 1.4(3) of the Insolvency Rules, or, in Scotland, under Rule 1.4(3) of the Insolvency (Scotland) Rules;

(b) a proposal is made by the liquidator or the administrator (acting as nominee) and before the appointed day the liquidator or administrator (as the case may be) has sent out a notice summoning the meetings under section 3 of the Act as required by Rule 1.11 of the Insolvency Rules, or, in Scotland, by Rule 1.11 of the Insolvency (Scotland) Rules; or

(c) a proposal is made by the liquidator or the administrator of a company (not acting as the nominee) and before the appointed day the intended nominee has endorsed a copy of the written notice of the proposal under Rule 1.12(2) of the Insolvency Rules, or, in Scotland, Rule 1.12(2) of the Insolvency (Scotland) Rules,

the amendments made to the Act by Part I of Schedule 2 and the repeal made by section 15(1) and Schedule 5 in respect of section 5(2) and (3) of the Act shall not apply and the provisions of the Act as they have effect immediately before the appointed day shall continue to have effect.

(2) The provisions of paragraph (1) shall—

(a) apply in relation to building societies as they apply in relation to companies; and

(b) in their application to building societies, have effect with the substitution for “company” of “building society”.

(3) In this article “proposal” has the same meaning as it has in section 1(2) of the Act.

Section 4 Transitional provisions

(1) In a case where a proposal is made by a debtor and before the appointed day the intended nominee has endorsed a copy of the written notice of the proposal under Rule 5.4(3) of the Insolvency Rules the amendments made to the Act by section 3 and Schedule 3 and the repeal made by section 15(1) and Schedule 5 in respect of section 255(1)(d) of the Act shall not apply and the provisions of the Act as they have effect immediately before the appointed day shall continue to have effect.

(2) In this article, “proposal” has the same meaning as it has in section 253 of the Act.

Section 5 Transitional provisions

(1) The amendments made by section 4(1) and 4(2) to section 388 of the Act shall not apply in any case where—

(a) a person acts as a nominee (within the meaning of section 1(2) of the Act) and that case falls within paragraph (1) of article 3; or

(b) a person acts as a nominee (within the meaning of section 253(2) of the Act) and that case falls within paragraph (1) of article 4,

and in such cases section 388 of the Act as it has effect immediately before the appointed day shall continue to have effect.