| Guvnor

Enforced by: Insolvency Service
Status: In Force
Penalty ceiling: Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Director or Officer3 Trader1 Any Person1

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Director or Officer — also bound by 429 other Acts

Insolvency (England and Wales) Rules 2016 162 duties

Companies Act 2006 126 duties

Insolvency Act 1986 77 duties

The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 68 duties

Building Societies Act 1986 32 duties

Trader — also bound by 825 other Acts

Value Added Tax Regulations 1995 416 duties

Companies Act 2006 243 duties

The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 133 duties

Companies Act 1985 85 duties

Insolvency (England and Wales) Rules 2016 62 duties

Any Person — also bound by 2340 other Acts

Human Medicines Regulations 2012 184 duties

Merchant Shipping Act 1995 144 duties

Insolvency (England and Wales) Rules 2016 104 duties

Communications Act 2003 92 duties

Road Traffic Act 1988 92 duties

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

Part 1

Introductory provisions

0 of 2 sections shown

2 other sections in this Part — procedural and definitional

s.001 Citation, commencement and application

s.002 Interpretation

Part 2

Restrictions on disposal of property by administrators

4 of 7 sections shown

s.003 Conditions and requirements that apply in respect of a substantial disposal by the administrator Regulated

Obtain creditor approval or an independent report before buying assetsDirector or Officer

s.006 Qualifying report: requirements to be met in connection with obtaining and considering the report Regulated

Ensure the qualifying report on a connected person sale meets legal standardsDirector or Officer

s.008 Qualifying report: additional requirements where previous report obtained Regulated

Include details of previous reports when obtaining an administration opinionAny Person

s.009 Notification requirements where a qualifying report is obtained Regulated

Share the evaluator's report with Companies House and creditorsDirector or Officer

3 other sections in this Part — procedural and definitional

s.004 Creditor approval

s.005 Qualifying report: meaning of qualifying report

s.007 Qualifying report: required content

Part 3

The Evaluator

1 of 4 sections shown

s.011 The requirement as to insurance Regulated

Maintain professional indemnity insurance for evaluator reportsTrader

3 other sections in this Part — procedural and definitional

s.010 Requirements for acting as evaluator

s.012 Requirement as to independence

s.013 Exclusion from providing the report

Help complying

Guvnor’s practical routes through this instrument.

Explore business rescue and insolvency options

Understand your options when your company faces financial difficulty - from rescue procedures to formal insolvency, your duties as a director, and …

Close your company

Choose the right route to close your limited company - voluntary strike-off, Members' Voluntary Liquidation, or dealing with debts

1 more guide that reference this instrument

Company rescue and insolvency options

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.