Made | 29th October 2002 | ||
Laid before Parliament | 29th October 2002 | ||
Coming into force | 1st January 2003 |
(2) In this Order a reference to a "modified section" means a section of the Act as modified by, and set out in, the 1994 Order.
Amendment to section 388 of the Insolvency Act 1986
3.
For section 388(2A)(c)[4] of the Act substitute -
Amendment to Article 4 of the Insolvent Partnerships Order 1994
4.
For article 4(1) of the 1994 Order (voluntary arrangement of insolvent partnership) substitute -
Amendment to Article 19 of the Insolvent Partnerships Order 1994
5.
In article 19(4) of the 1994 Order (supplemental and transitional provisions), after "enactment" insert -
Substitution of Schedule 1 to the Insolvent Partnerships Order 1994
6.
For Schedule 1 to the 1994 Order (modified provisions of Part I of the Act) substitute the Schedule set out in Schedule 1 to this Order.
Amendments to Schedule 2 to the Insolvent Partnerships Order 1994
7.
- (1) Schedule 2 to the 1994 Order (modified provisions of Part II of the Act) is amended as follows.
(2) In paragraph 2 (section 8: power of court to make order), after modified section 8(6) insert -
(3) In paragraph 4 (section 10: effect of application), after modified section 10(1)(a) insert -
(4) In paragraph 5 (section 11: effect of order), after modified section 11(3)(d) insert -
Amendment to Schedule 3 to the Insolvent Partnerships Order 1994
8.
In paragraph 3 of Part I of Schedule 3 to the 1994 Order (section 221: winding up of unregistered companies), after modified section 221(7)(c) insert -
(7A) A winding-up petition on the ground set out in section 221(7)(d) may only be presented by one or more creditors.".
Amendment to Schedule 4 to the Insolvent Partnerships Order 1994
9.
- (1) Schedule 4 to the 1994 Order (modified provisions of the Act applying for purposes of Article 8) is amended as follows.
(2) In paragraph 3 of Part I (section 221: winding up of unregistered companies), for modified section 221(8) substitute -
(3) In paragraph 6(a) of Part II (circumstances in which members of insolvent partnerships may be wound up or made bankrupt by the court), for modified section 122 substitute -
(4) In paragraph 6(b) of Part II (circumstances in which members of insolvent partnerships may be wound up or made bankrupt by the court),
Forms
10.
For Forms 5, 6 and 7 contained in Schedule 9 to the 1994 Order substitute Forms 5, 6 and 7 contained in Schedule 2 to this Order.
Transitional provisions
11.
- (1) The amendments to the 1994 Order set out in articles 3, 4, 5, 6, 8, 9 and 10 of, and Schedules 1 and 2 to, this Order do not apply where, in relation to a voluntary arrangement under Part I of the Act, as the case may be, a proposal is made by -
(2) The amendments to the 1994 Order set out in article 7 of this Order do not apply where a petition for an administration order in relation to an insolvent partnership has been presented before this Order comes into force.
(3) Where, by virtue of the 1994 Order, provisions of the Act apply in a case falling within paragraph (1) or (2), those provisions shall continue to have effect as if this Order had not been made.
Irvine of Lairg,
C.
22nd October 2002
I concur, on behalf of the Secretary of State
Melanie Johnson,
Parliamentary Under-Secretary of State for Competition, Consumers and Markets, Department of Trade and Industry.
29th October 2002
(4) In this Part a reference to an insolvent partnership includes a reference to an insolvent partnership in relation to which a proposal for a voluntary arrangement may be made by virtue of Article 3 of the EC Regulation.
Moratorium
1A.
- (1) Where the members of an eligible insolvent partnership intend to make a proposal for a voluntary arrangement, they may take steps to obtain a moratorium for the insolvent partnership.
(2) Subject to subsections (3), (4), (5), (6) and (7), the provisions of Schedule A1 to this Act have effect with respect to -
(3) Certain of the provisions applied in relation to insolvent partnerships by virtue of subsection (2) are modified in their application in relation to insolvent partnerships in such manner that, after modification, they are as set out in Part II of Schedule 1 to the Insolvent Partnerships Order 1994.
(4) Paragraphs 4A, 4B, 4C, 4D, 4E, 4F, 4G, 4H, 4I, 4J, 4K[5], 5, 7(4), 8(8), 32(7), 34(2), 41(5) and 45 of Schedule A1 to this Act shall not apply.
(5) An insolvent partnership is not liable to a fine under paragraphs 16(2), 17(3), 18(3), 19(3), 22 or 23(1) of Schedule A1 to the Act.
(6) Notwithstanding subsection (5) an officer of an insolvent partnership may be liable to imprisonment or a fine under the paragraphs referred to in that subsection in the same manner as an officer of a company.
(7) In the application of Schedule A1, and the application of the entries in Schedule 10 relating to offences under Schedule A1, to insolvent partnerships -
Procedure where nominee is not the liquidator, administrator or trustee
2.
- (1) This section applies where the nominee under section 1 is not the liquidator, administrator or trustee of the insolvent partnership and the members of the partnership do not propose to take steps to obtain a moratorium under section 1A for the insolvent partnership.
(2) The nominee shall, within 28 days (or such longer period as the court may allow) after he is given notice of the proposal for a voluntary arrangement, submit a report to the court stating -
(3) The nominee shall also state in his report whether there are in existence any insolvency proceedings in respect of the insolvent partnership or any of its members.
(4) For the purposes of enabling the nominee to prepare his report, the person intending to make the proposal shall submit to the nominee -
(5) The court may -
direct that the nominee be replaced as such by another person qualified to act as an insolvency practitioner, or authorised to act as nominee, in relation to the voluntary arrangement.
Summoning of meetings
3.
- (1) Where the nominee under section 1 is not the liquidator, administrator or trustee of the insolvent partnership, and it has been reported to the court that such meetings as are mentioned in section 2(2) should be summoned, the person making the report shall (unless the court otherwise directs) summon those meetings for the time, date and place proposed in the report.
(2) Where the nominee is the liquidator, administrator or trustee of the insolvent partnership, he shall summon meetings of the members of the partnership and of the partnership's creditors to consider the proposal for such a time, date and place as he thinks fit.
(3) The persons to be summoned to a creditors' meeting under this section are every creditor of the partnership of whose claim and address the person summoning the meeting is aware.
However, the meeting may approve such a proposal or modification with the concurrence of the preferential creditor concerned.
(5) Subject as above, each of the meetings shall be conducted in accordance with the rules.
(6) After the conclusion of either meeting in accordance with the rules, the chairman of the meeting shall report the result of the meeting to the court, and, immediately after reporting to the court, shall give notice of the result of the meeting to all those who were sent notice of the meeting in accordance with the rules.
(7) References in this section to preferential debts and preferential creditors are to be read in accordance with section 386 in Part XII of this Act.
Approval of arrangement
4A.
- (1) This section applies to a decision, under section 4, with respect to the approval of a proposed voluntary arrangement.
(2) The decision has effect if, in accordance with the rules -
(3) If the decision taken by the creditors' meeting differs from that taken by the meeting of the members of the partnership, a member of the partnership may apply to court.
(4) An application under subsection (3) shall not be made after the end of the period of 28 days beginning with -
(5) Where a member of an insolvent partnership which is regulated applies to the court under subsection (3), the Financial Services Authority is entitled to be heard on the application.
(6) On an application under subsection (3), the court may -
(7) In this section "regulated" in relation to an insolvent partnership means a person who -
Effect of approval
5.
- (1) This section applies where a decision approving a voluntary arrangement has effect under section 4A.
(2) The voluntary arrangement -
as if he were a party to the voluntary arrangement.
(2A) If -
the insolvent partnership shall at that time become liable to pay to that person the amount payable under the arrangement.
(3) Subject as follows, if the partnership is being wound up as an unregistered company, or an administration order or an order by virtue of article 11 of the Insolvent Partnerships Order 1994 is in force, the court may do one or both of the following, namely -
(b) give such directions as it thinks appropriate for facilitating the implementation of the voluntary arrangement with respect to -
(4) The court shall not make an order under subsection (3)(a) -
Challenge of decisions
6.
- (1) Subject to this section, an application to the court may be made, by any of the persons specified below, on one or both of the following grounds, namely -
(2) The persons who may apply under this section are -
(3) An application under this section shall not be made -
but (subject to that) an application made by a person within subsection (2)(b) on the ground that the voluntary arrangement prejudices his interests may be made after the voluntary arrangement has ceased to have effect, unless it came to an end prematurely.
(4) Where on such an application the court is satisfied as to either of the grounds mentioned in subsection (1), it may do one or both of the following, namely -
(5) Where at any time after giving a direction under subsection (4)(b) for the summoning of meetings to consider a revised proposal the court is satisfied that the person who made the original proposal does not intend to submit a revised proposal, the court shall revoke the direction and revoke or suspend any decision approving the voluntary arrangement which has effect under section 4A.
(6) In a case where the court, on an application under this section with respect to any meeting -
the court may give such supplemental directions as it thinks fit, and, in particular, directions with respect to things done under the voluntary arrangement since it took effect.
(7) Except in pursuance of the preceding provisions of this section, a decision taken at a meeting summoned under section 3 is not invalidated by any irregularity at or in relation to the meeting.
False representations, etc.
6A.
- (1) If, for the purpose of obtaining the approval of the members or creditors of an insolvent partnership or of the members or creditors of any of its members to a proposal for a voluntary arrangement in relation to the partnership or any of its members, a person who is an officer of the partnership or an officer (which for this purpose includes a shadow director) of a corporate member in relation to which a voluntary arrangement is proposed -
he commits an offence.
(2) Subsection (1) applies even if the proposal is not approved.
(3) A person guilty of an offence under this section is liable to imprisonment or a fine, or both.
Implementation of proposal
7.
- (1) This section applies where a voluntary arrangement has effect under section 4A.
(2) The person who is for the time being carrying out in relation to the voluntary arrangement the functions conferred -
shall be known as the supervisor of the voluntary arrangement.
(3) If any of the partnership's creditors or any other person is dissatisfied by any act, omission or decision of the supervisor, he may apply to the court; and on the application the court may -
(4) The supervisor -
(5) The court may, whenever -
make an order appointing a person who is qualified to act as an insolvency practitioner or authorised to act as supervisor, in relation to the voluntary arrangement, either in substitution for the existing supervisor or to fill a vacancy.
(6) The power conferred by subsection (5) is exercisable so as to increase the number of persons exercising the functions of supervisor or, where there is more than one person exercising those functions, so as to replace one or more of those persons.
Prosecution of delinquent officers of partnership
7A.
- (1) This section applies where a moratorium under section 1A has been obtained for an insolvent partnership or the approval of a voluntary arrangement in relation to an insolvent partnership has taken effect under section 4A or paragraph 36 of Schedule A1.
(2) If it appears to the nominee or supervisor that any past or present officer of the insolvent partnership has been guilty of any offence in connection with the moratorium or, as the case may be, voluntary arrangement for which such officer is criminally liable, the nominee or supervisor shall forthwith -
(3) Where a prosecuting authority institutes criminal proceedings following any report under subsection (2), the nominee or supervisor, and every officer and agent of the insolvent partnership past or present (other than the defendant), shall give the authority all assistance in connection with the prosecution which he is reasonably able to give.
(4) The court may, on the application of the prosecuting authority, direct any person referred to in subsection (3) to comply with that subsection if he has failed to do so.
Arrangements coming to an end prematurely
7B.
For the purposes of this Part, a voluntary arrangement the approval of which has taken effect under section 4A or paragraph 36 of Schedule A1 comes to an end prematurely if, when it ceases to have effect, it has not been fully implemented in respect of all persons bound by the arrangement by virtue of section 5(2)(b)(i) or, as the case may be, paragraph 37(2)(b)(i) of Schedule A1.".
(2) For the purposes of sub-paragraph (1) the qualifying conditions are met by an insolvent partnership in a period if, in that period, it satisfies two or more of the requirements set out in sub-paragraph (3).
(3) The qualifying conditions referred to in this paragraph are -
(4) For the purposes of sub-paragraph (3) -
(c) the number of employees is the average number of persons employed by the insolvent partnership -
(5) Where the period covered by the qualifying conditions in respect of the insolvent partnership is not a year the total of turnover referred to in paragraph 3(3)(a) shall be proportionately adjusted.
(6) The average number of persons employed by the insolvent partnership shall be calculated as follows -
(7) In this paragraph -
4.
- (1) An insolvent partnership is excluded from being eligible for a moratorium if, on the date of filing -
(g) a voluntary arrangement in relation to the insolvent partnership which had effect in pursuance of a proposal under section 1(3) has come to an end prematurely and, during the period of 12 months ending with the date of filing, an order under section 5(3)(a) has been made, or
(h) an order has been made by virtue of article 11 of the Insolvent Partnerships Order 1994.
(2) Sub-paragraph (1)(b) does not apply to an insolvent partnership which, by reason of a winding-up order made after the date of filing, is treated as being wound up on that date.
(2) Where a petition, other than an excepted petition, for the winding-up of the insolvent partnership has been presented before the beginning of the moratorium, section 127 shall not apply in relation to any disposition of partnership property, any transfer of an interest in the insolvent partnership or alteration in status of a member of the partnership made during the moratorium or at a time mentioned in paragraph 37(5)(a).
(3) Paragraph (a) of sub-paragraph (1) does not apply to an excepted petition and, where such a petition has been presented before the beginning of the moratorium or is presented during the moratorium, paragraphs (b) and (c) of that sub-paragraph do not apply in relation to proceedings on the petition.
(4) For the purposes of this paragraph, "excepted petition" means a petition under -
20.
- (1) This paragraph applies where -
(2) If the holder of the security consents, or the court gives leave, the insolvent partnership may dispose of the property as if it were not subject to the security.
(3) If the owner of the goods consents, or the court gives leave, the insolvent partnership may dispose of the goods as if all rights of the owner under the hire-purchase agreement were vested in the members of the partnership.
(4) Where property subject to a security which, as created, was a floating charge is disposed of under sub-paragraph (2), the holder of the security has the same priority in respect of any partnership property directly or indirectly representing the property disposed of as he would have had in respect of the property subject to the security.
(5) Sub-paragraph (6) applies to the disposal under sub-paragraph (2) or (as the case may be) sub-paragraph (3) of -
(6) It shall be a condition of any consent or leave under sub-paragraph (2) or (as the case may be) sub-paragraph (3) that -
shall be applied towards discharging the sums secured by the security or payable under the hire-purchase agreement.
(7) Where a condition imposed in pursuance of sub-paragraph (6) relates to two or more securities, that condition requires -
to be applied towards discharging the sums secured by those securities in the order of their priorities.
(8) In this paragraph "floating charge" means a floating charge created under section 5 of the Agricultural Credits Act 1928.
as if he were a party to the voluntary arrangement.
(3) If -
the insolvent partnership shall at that time become liable to pay to that person the amount payable under the arrangement.
(4) Where a petition for the winding-up of the insolvent partnership as an unregistered company or a petition by virtue of article 11 of the Insolvent Partnerships Order 1994, other than an excepted petition within the meaning of paragraph 12, was presented before the beginning of the moratorium, the court shall dismiss the petition.
(5) The court shall not dismiss a petition under sub-paragraph (4) -
40.
- (1) This paragraph applies in relation to acts or omissions of the officers of a partnership during a moratorium.
(2) A creditor or member of the insolvent partnership may apply to the court for an order under this paragraph on the ground -
(3) An application for an order under this paragraph may be made during or after the moratorium.
(4) On an application for an order under this paragraph the court may -
(5) An order under this paragraph may in particular -
(6) In making an order under this paragraph the court shall have regard to the need to safeguard the interests of persons who have dealt with the insolvent partnership in good faith and for value.
(7) In relation to any time when an administration order is in force in relation to the insolvent partnership, or the insolvent partnership is being wound up as an unregistered company or an order by virtue of article 11 of the Insolvent Partnerships Order 1994 has been made, in pursuance of a petition presented before the moratorium came into force, no application for an order under this paragraph may be made by a creditor or member of the insolvent partnership; but such an application may be made instead by the administrator or (as the case may be) trustee or liquidator.
42.
- (1) If, for the purpose of obtaining a moratorium, or an extension of a moratorium, for an insolvent partnership or any of its members (a moratorium meaning in the case of an individual the effect of an application for, or the making of, an interim order under Part VIII of the Act), a person who is an officer of an insolvent partnership or an officer (which for this purpose includes a shadow director) of a corporate member in relation to which a voluntary arrangement is proposed -
he commits an offence.
(2) Sub-paragraph (1) applies even if no moratorium or extension is obtained.
(3) A person guilty of an offence under this paragraph is liable to imprisonment or a fine, or both.".
Schedule 4 para 8 S124(1)(a) | Creditor's Petition to Wind Up Partnership (Presented in Conjunction with Petitions against Members) | |
(a) | Insert name of partnership |
In the matter of (a) (hereinafter referred to as "the partnership") and in the matter of the Insolvent Partnerships Order 1994 |
(b) | Insert title of court and number of proceedings (to be allocated by court) |
To (b) No: of |
(c) | Insert full name(s) and address(es) of petitioner(s) |
The petition of (c) |
(d) | Insert the nature of the partnership's business |
1. The nature of the partnership's business is/was (d) |
(e) | Delete as appropriate |
2. (e) [The centre of main interests] [An establishment] of the partnership is at (f) within the jurisdiction of the court |
OR | ||
(f) | Insert address of business applicable to show jurisdiction of the court |
(e) [The principal place of business of the partnership] [A place of business at which business was carried on by the partnership in the course of which the debt (or part of the debt) arose which forms the basis of this petition] is at (f) within the jurisdiction of the court. |
If the partnership has a principal place of business in both England and Wales and in Scotland the relevant period is 1 year. In any other case it is 3 years. |
3.
The partnership has carried on its business in England and Wales at some time during the period of (e) [3 years] [1 year] ending with the day on which this petition is presented. 4. The partnership is/is not (e) [an insurance undertaking;] [a credit institution;] [an investment undertaking providing services involving the holding of funds or securities for third parties;] or [a collective investment undertaking] referred to in Article 1.2 of the EC Regulation. |
|
(g) (h) |
Insert name of person swearing affidavit Insert whether main, secondary or territorial proceedings |
5. For the reasons stated in the affidavit of (g) filed in support hereof it isconsidered that the EC Regulation (e) will/will not apply (e) [and that these proceedings will be (h) proceedings as defined in Article 3 of the EC Regulation]. |
6. The partnership is justly and truly indebted to me/us in the aggregate sum of £ . The above-mentioned debt is for a liquidated sum payable immediately. |
||
(j) | Insert date of service |
(e) [On (j) a demand was served upon the partnership by (k) |
(k) | State manner of service of demand |
in respect of the above-mentioned debt. To the best of my knowledge and belief the demand has not been complied with.] |
(l) | Insert full name of member or members |
(e) [On (j) (e) [a demand was] [demands were] served upon (l) [a] member[s] of the partnership by (k) in respect of the above-mentioned debt. To the best of my knowledge and belief the demand[s] has not/have not been complied with.] |
(m) | Delete (1) or (2) as appropriate |
7. The partnership (m) - [(1) is unable to pay its debts,] or [(2) at the time at which a moratorium for the insolvent partnership under section 1A of the Insolvency Act 1986 came to an end, no voluntary arrangement approved under Part I had effect in relation to the insolvent partnership,] and in the circumstances the partnership should be wound up. The petitioner[s] therefore pray[s] as follows: |
(1) that (a) may be wound up by the court under the provisions of the Insolvency Act 1986 as modified by the Insolvent Partnerships Order 1994. |
||
OR | ||
(2) that such other order may be made as the court thinks fit. |
NOTE 1:
Petitions are also being presented against the following members of the partnership:
NAME | ADDRESS | TYPE OF PETITION (WINDING-UP OR BANKRUPTCY) | DATE DEMAND SERVED (if applicable) |
(n) (o) |
Delete as applicable Insert name and address of court |
ENDORSEMENT This petition having been presented to the court on will be heard at (n) [Royal Courts of Justice, Strand, London WC2A 2LL] [(o) County Court ] on: Date Time (or as soon thereafter as the petition can be heard) The solicitor to the petitioner is: Name Address Tel. No. Reference [whose agents are: Name Address Tel. No. Reference ] |
Schedule 4 para 8 S124(1)(b) | Creditor's Petition to Wind Up Corporate Member (Presented in Conjunction with Petition against Partnership) | |
(a) | Insert name of corporate member subject to winding-up petition |
In the matter of (a) (hereinafter referred to as "the company") and in the matter of the Insolvent Partnerships Order 1994 |
(b) | Insert title of court and number of proceedings (to be allocated by court) |
To (b) No: of |
(c) | Insert full name(s) and address(es) of petitioner(s) |
The petition of (c) |
(d) | Insert date of incorporation |
1. The company was incorporated on (d) under theCompanies Act 19 . |
(e) | Insert address of registered office |
2. The registered office of the company is at (e) |
3. The nominal capital of the company is £ divided into shares of £ each. The amount of the capital paid up or credited as paid up is £ |
||
4. The principal objects for which the company was established are as follows: - and other objects stated in the memorandum of association of the company. |
||
(f) | Delete as appropriate | 5. The company is/is not (f)[an insurance undertaking;] [a credit institution;] [an investment undertaking providing services involving the holding of funds or securities for third parties;] or [a collective investment undertaking] referred to in Article 1.2 of the EC Regulation. |
(g) (h) |
Insert name of person swearing affidavit Insert whether main, secondary or territorial proceedings |
6. For the reasons stated in the affidavit of (g) filed in support hereof it is considered that the EC Regulation (f) will/will not apply (f) [and that these proceedings will be (h) proceedings as defined in Article 3 of the EC Regulation]. |
(j) | Insert full name of partnership against which winding-up petition has been presented to this court |
7. The subject of this petition is a member of (j) which has carried on business in England and Wales at some time during the period of (f) [3 years] [1 year] ending with (k) , the day on which a winding-up petition was presented to this court against the partnership. |
If the partnership has a principal place of business in both England and Wales and in Scotland the relevant period is 1 year. In any other case it is 3 years. |
8. The partnership is justly and truly indebted to me/us in the aggregate sum of £ . The above-mentioned debt is for a liquidated sum payable immediately. (f) [On (k) a demand was served upon the company and the partnership by (l) in respect of the above-mentioned debt. To the best of my knowledge and belief the demand has not been complied with.] |
|
(k) | Insert appropriate date | |
(l) | State manner of service of demand | |
(m) | Delete (1) or (2) as appropriate |
The partnership (m) [(1) is unable to pay its debts,] [(2) at the time at which a moratorium for the insolvent partnership under section 1A of the Insolvency Act 1986 came to an end, no voluntary arrangement approved under Part I had effect in relation to the insolvent partnership,] and in the circumstances the corporate member should be wound up. The petitioner[s] therefore pray[s] as follows: |
(1) that (a) may be wound up by the court under the provisions of the Insolvency Act 1986 as modified by the Insolvent Partnerships Order 1994. |
||
OR | ||
(2) that such other order may be made as the court thinks fit. |
NAME | ADDRESS | TYPE OF PETITION (WINDING-UP OR BANKRUPTCY) | DATE DEMAND SERVED (if applicable) |
(n) (o) |
Delete as applicable Insert name and address of court |
ENDORSEMENT This petition having been presented to the court on will be heard at (n) [Royal Courts of Justice, Strand, London WC2A 2LL] [(o) County Court ] on: Date Time (or as soon thereafter as the petition can be heard) The solicitor to the petitioner is: Name Address Tel. No. Reference [whose agents are: Name Address Tel. No. Reference ] |
Schedule 4 para 8 S124(1)(c) | Creditor's Bankruptcy Petition against Individual Member (Presented in Conjunction with Petition against Partnership) | |
(a) | Insert name of individual member subject of petition |
In the matter of (a) and in the matter of the Insolvent Partnerships Order 1994 |
(b) | Insert title of court and number of proceedings (to be allocated by court) |
To (b) No: of |
(c) | Insert full name(s) and address(es) of petitioner(s) |
I/We (c) |
(d) | Insert full name, place of residence and occupation of individual member |
petition the court that a bankruptcy order may be made against (d) |
(e) | Insert in full any other name(s) by which the member is or has been known |
[also known as (e) ] |
(f) | Insert trading name (adding "with another or others", if this is so), business address and nature of business |
[and carrying on business as (f) ] |
(g) | Insert any former address(es) at which the member has resided after the time at which the petition debt of the partnership (k) was incurred | [and lately residing at (g)] |
(h) | Give the same details as specified in note (f) above for any other businesses which have been carried on at or after the time at which the petition debt of the partnership (k) was incurred or at which the member may have incurred debts or liabilities still unpaid or unsatisfied |
[and lately carrying on business as (h) ] |
(j) | Delete as appropriate |
(j) [His centre of main interests is] [He has an establishment] at OR He carries on business as (j) [an insurance undertaking;] [a credit institution;] [an investment undertaking providing services involving the holding of funds or securities for third parties;] or [a collective investment undertaking] referred to in Article 1.2 of the EC Regulation. OR His centre of main interests is not within a member State. |
(k) |
Insert full name of partnership against which a winding-up petition has been presented to this court. If the partnership has a principal place of business in both England and Wales and in Scotland the relevant period is 1 year. In any other case it is 3 years. |
On the grounds that: - he is a member of (k) which has carried on business in England and Wales at some time during the period of (j) [3 years] [1 year] ending with (l) , the day on which a winding-up petition was presented to this court against the partnership. The partnership is justly and truly indebted to me/us in the aggregate sum of £ |
(l) | Insert appropriate date | The above-mentioned debt is for a liquidated sum payable immediately. |
(m) | State date and manner of service of demand |
(j) [on (1) a demand was served upon the member and the partnership by (m) in respect of the above-mentioned debt.] (j) [To the best of my knowledge and belief the demand has neither been complied with nor set aside in accordance with the Rules and no application made to set it aside is outstanding.] |
(n) | Delete (1) or (2) as appropriate |
The partnership (n) [(1) is unable to pay its debts,] or [(2) at the time at which a moratorium for the insolvent partnership under section 1A of the Insolvency Act 1986 came to an end, no voluntary arrangement under Part I had effect in relation to the insolvent partnership,] and in the circumstances a bankruptcy order should be made against (a) |
NOTE 1:
Petitions are also being presented against the following members of the partnership:
NAME | ADDRESS | TYPE OF PETITION (WINDING-UP OR BANKRUPTCY) | DATE DEMAND SERVED (if applicable) |
(o) (p) |
Insert name of member Only to be completed where the petitioning creditor is represented by a solicitor |
ENDORSEMENT This petition having been presented to the court on it is ordered that the petition shall be heard as follows: Date Time Place and you, the above named (o) are to take notice that if you intend to oppose the petition you must not later than 7 days before the date fixed for the hearing:
(ii) send a copy of the notice to the petitioner or his solicitor.
The solicitor to the petitioner is (p): Address Tel. No. Reference [whose agents are: Name Address Tel. No. Reference ] " |
[2] S.I. 1986/1925, amended by S.I. 1987/1919, 1989/397, 1991/495, 1993/602, 1995/586, 1999/359, 1999/1022, 2001/763, 2002/1307 and 2002/2712.back
[3] S.I. 1994/2421, amended by S.I. 1996/1308, 2001/767, 2001/3649, 2002/1308 and 2002/1555.back
[4] Section 388(2A) of the Insolvency Act 1986 was inserted by article 15(1), S.I. 1994/2421.back
[5] Paragraphs 4A to 4K are inserted into Schedule A1 by the Insolvency Act 1986 (Amendment) (No. 3) Regulations 2002, S.I. 2002/1990.back
[8] 1970 c. 9; section 12AA was inserted by the Finance Act 1994 (c. 9) and was amended by the Finance Act 1995 (c. 4), the Finance Act 1996 (c. 8), the Finance Act 1998 (c. 36) and the Finance Act 2001 (c. 9).back
[9] 1890 c. 39 (53 & 54 Vict); section 35(a) was repealed by the Mental Health Act 1959 (c. 72), section 149(2) and Schedule 8back
[10] 1986 (c. 60); section 72(6) was added by the Open-Ended Investment Companies (Investment Companies with Variable Capital) Regulations 1996, S.I. 1996/2827, regulation 75 and paragraph 13 of Schedule 8.back
[11] 1987 (c. 22); section 92(1) was amended by the Bank of England Act 1998 (c. 11), section 23(1) and Schedule 5.back