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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 21 February 2009 - onwards
Version 3 of 3

125. Rules

(1) Section 411 of the Insolvency Act 1986 (company insolvency rules) is amended as follows.

(2) After subsection (1) insert -

"(1A) Rules may also be made for the purpose of giving effect to Part 2 of the Banking Act 2009 (bank insolvency orders); and rules for that purpose shall be made -

(a) in relation to England and Wales, by the Lord Chancellor with the concurrence of -

(i) the Treasury, and

(ii) in the case of rules that affect court procedure, the Lord Chief Justice, or

(b) in relation to Scotland, by the Treasury."

(3) In subsection (2) -

(a) after "subsection (1)," insert "(1A)";

(b) in paragraph (b), after "Secretary of State" insert "or the Treasury".

(4) After subsection (2B) insert -

"(2C) For the purposes of subsection (2), a reference in Schedule 8 to this Act to doing anything under or for the purposes of a provision of this Act includes a reference to doing anything under or for the purposes of Part 2 of the Banking Act 2009."

(5) In subsection (3) -

(a) after "provisional liquidator" insert "or bank liquidator", and