INSOLVENCY: SUBSIDIARY LEGISLATION

INSOLVENCY: SUBSIDIARY LEGISLATION

INSOLVENCY RULES

ARRANGEMENT OF RULES

    RULE

PART I
PRELIMINARY PROVISIONS

    1.    Citation

    2.    Interpretation

    3.    Performance of functions by the Court and the Registrar

    4.    General principles

    5.    Calculation of time

    6.    Determination of the beginning and end of period expressed in months, etc

    7.    Documents required to be in writing

    8.    Standard contents of notice in Gazette or newspaper

    9.    Gazette or newspaper notices relating to company

    10.    Gazette or newspaper notices relating to bankruptcy

    11.    Gazette or newspaper as evidence

    12.    Standard contents of documents to be delivered to the Registrar of Companies or the Director

    13.    Standard contents of documents relating to the office of office-holder

    14.    Standard contents of documents relating to other documents

    15.    Standard contents of documents relating to Court orders

    16.    Standard contents of returns or reports of meetings

    17.    Standard contents of returns or reports of matters considered by correspondence

    18.    Standard contents of documents relating to other events

    19.    Standard contents and authentication of applications to Court

    20.    Delivery of documents to joint office-holders

    21.    Right to copy documents

    22.    Right to be provided with list of creditors

    23.    Confidentiality

PART II
COMPANY REORGANIZATION

    24.    Proposed administrator’s statement and consent to act

    25.    Administrator’s security

    26.    Company reorganization application

    27.    Sworn statement in support of company reorganization application

    28.    Filing of company reorganization application

    29.    Service of company reorganization application

    30.    Notice to officers charged with execution or other legal process

    31.    Notice of other insolvency proceedings

    32.    Hearing

    33.    Order

    34.    Notice of company reorganization order

    35.    Publication of administrator’s appointment

    36.    Notice of requirement to provide a statement of affairs

    37.    Statement of affairs: content and submission of copy

    38.    Statement of affairs: concurrence

    39.    Statement of affairs: filing

    40.    Statement of affairs: release from requirement and extension of time

    41.    Statement of affairs: expenses

    42.    Administrator’s proposals: additional content

    43.    Administrator’s proposals: statement of pre-company reorganization costs

    44.    Administrator’s proposals: ancillary provisions about delivery

    45.    Approval of administrator’s proposals

    46.    Notice of deemed approval of administrator’s proposals or revised proposals

    47.    Notice of result of creditors’ meeting to consider proposal

    48.    Administrator’s proposals: revision

    49.    Notice of result of creditors’ meeting to consider revised proposals

    50.    Disposal of charged property

    51.    Expenses

    52.    Order of priority

    53.    Pre-company reorganization costs

    54.    Final progress reports

    55.    Application to extend a company reorganization and extension by consent

    56.    Notice of automatic end of company reorganization

    57.    Notice of end of company reorganization when purposes achieved

    58.    Administrator’s application for order ending company reorganization

    59.    Notice by administrator of Court order

    60.    Grounds for resignation

    61.    Notice of intention to resign

    62.    Notice of resignation

    63.    Application to Court to remove administrator from office

    64.    Notice of vacation of office when administrator ceases to be qualified to act

    65.    Deceased administrator

    66.    Application to replace an administrator

    67.    Appointment of replacement or additional administrator

PART III
RECEIVERSHIP

    68.    Receivers or managers: acceptance of appointment

    69.    Receiver’s security

    70.    Publication of appointment of receiver

    71.    Requirement to provide a statement of affairs

    72.    Statement of affairs: concurrence and retention by receiver

    73.    Statement of affairs: release from requirement and extension of time

    74.    Limited disclosure

    75.    Report delivered to Registrar of Companies and the Director

    76.    Copy of report for unsecured creditors

    77.    Invitation by correspondence to creditors to form a creditors’ committee

    78.    Summary of receipts and payments

    79.    Resignation of receiver

    80.    Deceased receiver

    81.    Vacation of office in other cases

PART IV
WINDING-UP OF THE COMPANY

Division I
Winding-up of the Company by the Court

    82.    Application of this Division

    83.    Statutory demand (s. 184 of the Act)

    84.    Contents of petition

    85.    Request to appoint administrator or receiver as liquidator

    86.    Verification of petition

    87.    Copies of petition to be served on company or delivered to other persons

    88.    Notice of petition

    89.    Persons entitled to request a copy of petition

    90.    Certificate of compliance

    91.    Permission for the petitioner to withdraw

    92.    Notice by persons intending to appear

    93.    List of appearances

    94.    Sworn statement in opposition

    95.    Substitution of creditor or contributory for petitioner

    96.    Order for substitution

    97.    Adjournment of hearing of petition

    98.…