HC Deb 02 March 1989 vol 148 c308W
87. Mr. Holt

To ask the Chancellor of the Duchy of Lancaster whether he has any proposals to seek to amend the Insolvency Act 1986; and if he will make a statement.

Mr. Maude

There are no plans to amend the Insolvency Act 1986 itself in the foreseeable future. Amendments to the insolvency legislation are included however in the Companies Bill. Part 7 of the Bill, which relates to financial markets, modifies certain parts of the Insolvency Act 1986. Section 323 of the Insolvency Act 1986, which deals with set-off in bankruptcy, is amended by part VIII of the Bill. In order to retain harmonisation rule 4.90 of the Insolvency Rules 1986, which deals with set-off in companies winding up, will also be amended, although this amendment will be effected by way of a change to the Insolvency Rules 1986 and not by the Companies Bill.

Additional minor amendments to the insolvency legislation will be considered when suitable legislative vehicles become available.

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