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Section 388: Meaning of "act as insolvency practitioner"

Insolvency Act 1986 · 1986 c. 45View on legislation.gov.uk

Part XIII: Insolvency Practitioners and their Qualification

A person acts as an insolvency practitioner in relation to a company by acting—

as its liquidator, provisional liquidator, administrator , administrative receiver or monitor, or
where a voluntary arrangement in relation to the company is proposed or approved under Part I, as nominee or supervisor

A person acts as an insolvency practitioner in relation to an individual by acting—

as his trustee in bankruptcy or interim receiver of his property or as trustee (or interim trustee) in the sequestration of his estate; or
as trustee under a deed which is ..., in Scotland, a trust deed for his creditor; or
where a voluntary arrangement in relation to the individual is proposed or approved under Part VIII, as nominee or supervisor
in the case of a deceased individual to the administration of whose estate this section applies by virtue of an order under section 421 (application of provisions of this Act to insolvent estates of deceased persons), as administrator of that estate.

A person acts as an insolvency practitioner in relation to an insolvent partnership by acting—

as its liquidator, provisional liquidator or administrator, or
as trustee of the partnership under article 11 of the Insolvent Partnerships Order 1994, or
where a voluntary arrangement in relation to the insolvent partnership is proposed or approved under Part I of the Act, as nominee or supervisor.

In relation to a voluntary arrangement proposed under Part I or VIII, a person acts as nominee if he performs any of the functions conferred on nominees under the Part in question.

References in this section to an individual include, except in so far as the context otherwise requires, references . . . to any debtor within the meaning of the Bankruptcy (Scotland) Act 2016.

In this section—

  • "administrative receiver" has the meaning given by section 251 in Part VII;

  • "company" means—

    (a)a company registered under the Companies Act 2006 in England and Wales or Scotland, or

    (b)a company that may be wound up under Part 5 of this Act (unregistered companies).

  • "monitor" has the same meaning as in Part A1 (moratorium);

  • "sequestration" means sequestration under the Bankruptcy (Scotland) Act 2016

Nothing in this section applies to anything done by—

the official receiver; or
the Accountant in Bankruptcy (within the meaning of the Bankruptcy (Scotland) Act 2016).

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About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.