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Amendments to the Insolvency Bill [H.L.]

Insolvency Bill [H.L.] -
Amendments to be debated in the House of Lords

Here you can browse the Marshalled List of Amendments to the Insolvency Bill [H.L.] to be moved on Third Reading in the House of Lords.

 [Amendments marked * are new or have been altered] 
Amendment
No.
 
  
Clause 4
 
  
BY THE BARONESS BUSCOMBE
THE LORD KINGSLAND
 
1     Page 2, line 17, leave out subsection (3) 
2     Page 2, line 20, leave out subsection (4) 
  
Schedule 1
 
  
BY THE BARONESS BUSCOMBE
THE LORD KINGSLAND
 
3     Page 13, line 12, leave out ("either of those meetings") and insert ("the meeting of creditors") 
4     Page 14, leave out line 19 
5     Page 14, line 28, at end insert--
 
    ("(  )  Nothing in sub-paragraph (1) requires the leave of the court for the appointment of an administrative receiver of the company.")
 
6     Page 14, line 49, leave out from beginning to end of line 22 on page 15 
  
BY THE LORD McINTOSH OF HARINGEY
 
7     Page 15, line 27, leave out from beginning to ("apply") and insert ("Paragraphs 16 to 22A") 
8     Page 15, line 28, at end insert--
 
    ("(1A)  The fact that a company enters into a transaction in contravention of any of paragraphs 16 to 22 does not--
    (a)  make the transaction void, or
    (b)  make it to any extent unenforceable against the company.")
 
9     Page 15, leave out lines 29 to 35 
10     Page 16, line 31, at end insert ("otherwise than in pursuance of an order of the court") 
  
BY THE BARONESS BUSCOMBE
THE LORD KINGSLAND
 
11     Page 16, line 35, at end insert--
 
    ("(  )  A disposal of the company's property to any person other than a person who is connected with the company shall not be avoided only on the ground that paragraph 18(1) was not satisfied.")
 
  
BY THE LORD McINTOSH OF HARINGEY
 
12     Page 16, line 47, at end insert ("otherwise than in pursuance of an order of the court") 
13     Page 18, leave out lines 6 and 7 and insert--
    ("(a)  without any consent or leave under paragraph 20, disposes of any of its property which is subject to a security otherwise than in accordance with the terms of the security,
    (aa)  without any consent or leave under paragraph 20, disposes of any goods in the possession of the company under a hire-purchase agreement otherwise than in accordance with the terms of the agreement, or")
 
14     Page 18, line 12, at end insert-- 
 ("Market contracts, etc. 
     22A.--(1) If the company enters into any transaction to which this paragraph applies--
    (a)  the company is liable to a fine, and
    (b)  if any officer of the company, without reasonable excuse, authorised or permitted the company to enter into the transaction, he is liable to imprisonment or a fine, or both.
    (2)  A company enters into a transaction to which this paragraph applies if it--
    (a)  enters into a market contract,
    (b)  gives a transfer order,
    (c)  grants a market charge, or
    (d)  provides any collateral security.
    (3)  The fact that a company enters into a transaction in contravention of this paragraph does not--
    (a)  make the transaction void, or
    (b)  make it to any extent unenforceable by or against the company.
    (4)  Where during the moratorium a company enters into a transaction to which this paragraph applies, nothing done by or in pursuance of the transaction is to be treated as done in contravention of paragraphs 12(1)(f), 14 or 16 to 22.
 
    (5)  Paragraph 20 does not apply in relation to any property which is subject to a market charge or a collateral security charge.
 
    (6)  In this paragraph, "transfer order", "collateral security" and "collateral security charge" have the same meanings as in the settlement finality regulations.")
 
  
BY THE BARONESS BUSCOMBE
THE LORD KINGSLAND
 
15     Page 20, line 39, leave out (", or authorised to act as nominee,") 
16     Page 21, line 47, leave out (", or authorised to act as nominee,") 
17     Page 22, line 43, at end insert ("but may only apply within 7 days of the decision taken by the creditors' meeting") 
18     Page 25, line 21, leave out (", or authorised to act as supervisor,") 
  
BY THE LORD McINTOSH OF HARINGEY
 
19     Page 29, line 17, leave out ("and 22(1)") and insert ("22(1) and 22A(1)(a)") 
20     Page 30, line 14, at end insert--
("Sch. A1, para. 22A(1)(a).Company entering into market contract, etc.1.  On indictment.
2.  Summary.
A fine.
The statutory maximum.
Sch. A1, para. 22A(1)(b).Authorising or permitting company to do so.1.  On indictment.
2.  Summary.
2 years or a fine, or both.
6 months or the statutory maximum, or both.")
 
  
Schedule 2
 
  
BY THE BARONESS BUSCOMBE
THE LORD KINGSLAND
 
21     Page 30, line 41, leave out paragraph 2 
22     Page 31, line 5, leave out (", or authorised to act as nominee,") 
23     Page 31, line 7, leave out paragraph 4 
24     Page 31, line 21, at end insert ("but may only apply within 7 days of the decision taken by the creditors' meeting") 
25     Page 32, line 43, leave out paragraph (c) 
  
Schedule 3
 
  
BY THE BARONESS BUSCOMBE
THE LORD KINGSLAND
 
26     Page 35, line 18, leave out (", or authorised to act as nominee,") 
27     Page 35, line 42, leave out (", or authorised to act as nominee,") 
28     Page 36, line 46, leave out (", or authorised to act as nominee,") 
29     Page 37, line 5, leave out from ("(3),") to ("for") in line 7 
30     Page 38, line 33, leave out paragraph (b) 
 
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Prepared 26 July 2000