(1)The Insurers (Winding Up) (Scotland) Rules 2001 are amended as follows.
(2)In rule 2(1) (interpretation), in the definition of “the principal rules”, for “the Insolvency (Scotland) Rules 1986” substitute “the Insolvency (Scotland) (Receivership and Winding up) Rules 2018”.
(3)In rule 18 (caution for long-term and other business), for “rule 4.70” substitute “rule 5.42”.
(4)For rule 22(2) (dividends to creditors) substitute—“2 Chapter 6 of Part 7 of the principal rules (distribution of company’s assets by the liquidator) applies as though—a the assets of the company which are available for meeting the liabilities of the company attributable to its long-term business and those liabilities, andb the assets of the company which are available for meeting the liabilities of the company attributable to its other business and those liabilities,were the assets and liabilities of separate companies.”
(5)In rule 24(1) (apportionment of expenses of liquidation), for “rule 4.67 of the principal rules (appointment and remuneration)” substitute “rule 7.28 of the principal rules (order of priority of expenses of liquidation)”.
For paragraph 12(1) of Schedule 2 to the Insolvency Practitioners Regulations 2005 (inspection and retention requirements relating to the cover schedule - Scotland) substitute—“1 Where an insolvency practitioner is appointed to act in relation to a company which is in administration, or for which there is a proposal for a company voluntary arrangement, the practitioner shall retain in the sederunt book kept under rule 1.54 of the Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018 (sederunt book), the principal copy of any cover schedule containing entries in relation to the insolvency practitioner so acting.1A Where an insolvency practitioner is appointed to act in relation to a company which is subject to proceedings for winding up, the practitioner shall retain in the sederunt book kept under rule 1.54 of the Insolvency (Scotland) (Receivership and Winding Up) Rules 2018 (sederunt book) the principal copy of any cover schedule containing entries in relation to the insolvency practitioner so acting.”
Article 5The European Grouping of Territorial Cooperation Regulations 2015#
In regulation 2(1) of the European Grouping of Territorial Cooperation Regulations 2015 (interpretation), in the definition of “the Insolvency Rules”, for “the Insolvency (Scotland) Rules 1986” substitute “Parts 3 to 7, 11 and 12 in their entirety, and Parts 1 and 8 to 10 insofar as they apply to winding up, of the Insolvency (Scotland) (Receivership and Winding up) Rules 2018”.
In section 14B(3) of the Bankruptcy (Scotland) Act 2016 (main proceedings in another member state: approval of undertaking offered by member state insolvency practitioner to local creditors in the UK), for “Rules 1.12 to 1.16E of the Insolvency (Scotland) Rules 1986” substitute “rules 2.24, 2.29, 2.33, 2.34, 5.2 to 5.4, 5.6, 5.7, 5.14, 5.20, 5.22, 5.25 to 5.28, 5.30 to 5.35, 5.40 to 5.42, 6.4 and 6.5 of the Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018”.
(1)The Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018 are amended as follows.
(2)In rule 2.7(3)(d) (additional disclosure for assistance of nominee where nominee is not the liquidator or administrator), after “trust deed” insert “for the benefit of creditors”.
(3)In rule 3.35(1)(f)(i) (administrator’s proposals: additional content), for “rule 3.44 or 3.45” substitute “rule 3.45 or 3.46”.
(4)In rule 3.41(1)(a) (notice of the creditors’ decision on the administrator’s proposals), for the words “with the statement required by rule 3.35(10)(a), if it has” substitute “including the statements required by rule 3.35(10)(a) and (b), if they have”.
(5)In rule 3.67(2)(d) (deceased administrator), for “the” where it first occurs substitute “an”.
(6)In rule 3.115(4)(a) (order of priority in distribution), for “either of paragraphs (1)(b) or (c)” substitute “any of sub-paragraphs (b) to (e) of paragraph (1)”.
Article 8The Insolvency (Scotland) (Receivership and Winding up) Rules 2018#
(1)The Insolvency (Scotland) (Receivership and Winding up) Rules 2018 are amended as follows.
(2)In rule 3.11(3) (delivery of draft final account to members (section 94)) for “do not intend to make any such request or application” substitute “are content with the draft final account”.
(3)In paragraph 7 (progress reports and statements to the registrar of companies) of Schedule 2—
(a)at the end of sub-paragraph (1) insert “and the provisions of these Rules relating to progress reporting do not apply”; and
(b)omit sub-paragraph (2).
Contains public sector information licensed under the Open Government Licence v3.0.