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CLAUSE 37:  INSOLVENCY, ETC.

SUMMARY

1.         This clause enables the Commissioners of Customs and Excise to make various provisions by regulation for the application of the aggregates levy rules in cases where an insolvency procedure is applied to a person or a deceased person’s estate.

DETAILS OF THE CLAUSE

2.         Subsection (1) gives the Commissioners the regulation-making powers to apply the aggregates levy rules in insolvency situations.

3.         Subsection (2) sets out what the regulations may cover, such as notification of the insolvency to the Commissioners, provision requiring a person to be treated in certain circumstances as if he were the same person as the subject of the insolvency procedure and provision for ensuring continuity in the application of any of the provisions of aggregates levy. 

4.         Subsection (3) describes what is meant by the term “relevant matter” used in subsection (2), in relation to a case in which an insolvency procedure is applied to any person or estate.  This may include the application of the insolvency procedure, the appointment of any person for the purposes of the application of the procedure and other related matters.

5.         Subsection (4) provides for regulations to include provision for a person to cease on the occurrence of a prescribed event to be treated as if he were the same person as the subject of the insolvency procedure.

6.         Subsection (5) provides that regulations prescribing the manner in which notification is given to the Commissioners may require it to be given in such manner and to contain such particulars as may be set out in a general notice published by the Commissioners. 

7.         Subsection (6) sets out that regulations may provide that the extent to which and the purposes for which a person is to be treated as if he were the same person as the subject of the insolvency procedure may be determined by reference to a notice given in accordance with the regulations to the person so treated.

8.         Subsection (7) sets out the circumstances in which an insolvency procedure is applied to a person for the purposes of this section including where a bankruptcy order, winding-up order or administration order is made in relation to him or a partnership of which he is a member, where he is put into administrative receivership, where he passes a resolution for a voluntary winding up or enters into a voluntary arrangement or registers a deed of arrangement and where a receiver, liquidator or trustee is appointed.

9.         Subsection (8) sets out the circumstances under which an insolvency procedure is applied to a deceased person’s estate.  This includes  a bankruptcy order being made in relation to a person’s estate after that person’s death or an order of sequestration on his estate after his death.

10.       Subsection (9) sets out the references to various Acts relevant to  the circumstances detailed in subsection 7. 

11.       Subsection (10) defines the meaning of the term “the subject of the procedure”.