The Enterprise Act 2002 (Consequential Amendments) (Prescribed Part) (Scotland) Order 2003
This Order amends the Insolvency (Scotland) Rules 1986 (S.I. 1986/1915) (“the Rules”) and the Receivers (Scotland) Regulations 1986 (S.I. 1986/1917) (“the Regulations”) in consequence of the introduction of a share of assets for unsecured creditors known as the “prescribed part” by section 176A of the Insolvency Act 1986 (c. 45) (“the 1986 Act”), as inserted by section 252 of the Enterprise Act 2002 (c. 40). These amendments concern the provision of information for creditors, the powers for receivers to deal with the prescribed part and applications to disapply the prescribed part.