HL Deb 23 October 1985 vol 467 cc1259-60

[Consequential on Commons amendments Nos. 259 to 262]

262A Page 88, line 8, after ("(b)") insert (" or (d)")

263 Clause 107, page 88, line 22, leave out 'presented'.

264 Page 88, line 39, leave out 'presented'.

392 Clause 196, page 157, line 7, leave out 'In section 18(1)' and insert 'For subsection (1) and (2) of section 18'.

393 Page 157, line 9, leave out from 'England)' to first 'of in line 19 and insert 'there shall be substituted the following subsections— (1) On a petition presented by the Bank by virtue of this section, the court having jurisdiction under the Companies Act 1985 may wind up a recognised bank or licensed institution under that Act if—

  1. (a) the institution is unable to pay its debts within the meaning of section 518 of that Act; or
  2. (b) the court is of the opinion that it is just and equitable that the institution should be wound up;
and for the purposes of such a petition an institution which defaults in an obligation to pay any sum due and payable to a depositor shall be deemed to be unable to pay its debts as mentioned in paragraph (a) above. (2) If a petition is presented by the Bank by virtue of this section for the winding up of a recognised bank or licensed institution which is a partnership (whether limited or not), the court has jurisdiction, and the Companies Act 1985 has effect, as if the institution concerned were an unregistered company within the meaning of Part XXI of that Act. (1 A) For subsection (4) of that section there shall be substituted the following subsection—
  1. "(4) In its application to Northern Ireland, this section shall have effect—
  2. (a) with the substitution of a reference to the Companies Act (Northern Ireland) 1960 for any reference to the Companies Act 1985;
  3. (b) with the substitution of a reference to section 211 of the said Act of 1960 for the reference to section 518 of the said Act of 1985;
  4. (c) with the substitution of a reference to Part IX of the said Act of 1960 for the reference to Part XXI of the said Act of 1985; and
    5. 1260
  5. (d) with the insertion in subsection (2) after the words 'whether limited or not)' of the words 'then, notwithstanding section 348(d) of the Companies Act (Northern Ireland) 1960 (exclusion of partnerships etc. having less than eight members)'."
 (2) In subsection (2) of section 19'.

394 Page 157, line 23, leave out from second 'any' to end of line 25 and insert 'provision of Parts XVIII to XXI of the Companies Act 1985 or any provision (other than section 83) of Part II of the Insolvency Act 1985; or". (3) In subsection (8) of that section, for paragraph (a) there shall be substituted the following paragraphs—

  1. "(a) for the reference in subsection (2) to Parts XVIII to XXI of the Companies Act 1985 there shall be substituted a reference to Parts V, VI and IX of the Companies Act (Northern Ireland) 1960;
  2. (aa) for any reference in subsection (5) to section 432 or 442 of the said Act of 1985 there shall be substituted respectively a reference to section 159 or 165A of the said Act of 1960;".'

410 [Printed above.]

459 Page 178, line 32, at end insert— '21 A. In section 519(1) (presentation of application for winding up), after the words "by the company" there shall be inserted the words "or the directors".'.

568 Page 207, line 50, column 3, leave out 'and'.

569 Page 207, line 52, column 3, at end insert ' and to sections 18 and 19(8)(a) of the Banking Act 1979'.

All these amendments introduce and integrate into the structure of the bankruptcy code of the Bill provisions relating to criminal bankruptcy along similar lines to provisions contained in the existing legislation, that is to say, Sections 39 to 41 and Schedule 2 to the Powers of Criminal Courts Act of 1973. I beg to move.

Moved, that this House do agree with the Commons in their Amendment No. 235.—(Lord Lucas of Chilworth.)

On Question, Motion agreed to.