December 2007 INTRODUCTION 59.1 General It would be impossible to cover every business which is thought to be unusual, and this chapter should not be considered to be an exhaustive list of such businesses. A business that is considered unusual will in the main be treated like any other insolvency except where other legislation overrides or amends the provisions of the Insolvency Act 1986. This chapter concentrates on businesses where liquidation proceedings may differ from that of an ordinary limited company by virtue of legislation (for example friendly societies and insurance companies), businesses where a professional body may be involved (for example accountants and doctors) and businesses which have additional regulations that may affect the official receivers work (for example community interest companies, pubs and scrap dealers). Where this chapter is silent on areas such as the requirement to keep accounting records or the distribution of funds the provisions of the Companies Act 2006 and the Insolvency Act 1986 prevail. This chapter is divided into 3 parts as follows: Banks (paragraphs 59.7) Bonded warehouses (paragraph 59.44d) Building Societies (paragraphs 59.8 - 59.13)Friendly societies (paragraphs 59.14 - 59.18) Industrial and provident societies (paragraphs 59.19 - 59.24) Credit Unions (paragraph 59.25 - 59.26) Insurance companies (paragraphs 59.27 - 59.31) Lloyds names (paragraph 59.32) Part 3 - Other unusual businesses (paragraphs 59.33 - 59.100). Accountants (paragraph 59.33 - 59.40) Barristers (paragraph 59.41 - 59.42) Bookmakers and Betting Shops (paragraph 59.43 - 59.44) Charities (paragraphs 59.45 - 59.51) Commonhold associations (paragraph 59.52) Common ownership enterprises (paragraphs 59.53) Community interest companies (paragraphs 59.54 - 59.56) Companies limited by guarantee (paragraph 59.57) Dentists (paragraph 59.58 - 59.67) Doctors (paragraph 59.68 - 59.74) Farms (paragraphs 59.74a - 59.75g) Football Clubs (paragraph 59.75) Housing Associations (paragraph 59.75a) List X Sites (paragraphs 59.76A - 59.76P) Nursing homes and residential care (paragraph 59.77) Pawnbrokers (paragraphs 59.77a - 59.77l) Post offices (paragraph 59.78 - 59.80) Public houses (paragraph 59.81 - 59.85) Retailers of alcohol (paragraphs 59.81 - 59.85) Solicitors (paragraphs 59.87 - 59.94) Scrap metal dealers (paragraph 59.95 - 59.99) Veterinary surgeons (paragraph 59.100) Annex A - Contact addresses
The following abbreviations are used in this chapter: BRO - Bankruptcy restrictions order BRU - Bankruptcy restrictions undertaking CIC - Community Interest Companies DPA - Data Protection Act 1988 FSA - Financial Services Authority. FSCS - Financial Services Compensation Scheme FSMA - Financial Services and Markets Act 2000 IPA - Income payments agreement IPO – Income payment order IPO94 - The Insolvent Partnerships Order 1994. LHB - Local Health Board NHSBSA - NHS Business Services Authority PCT - Primary Care Trust
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