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  1. E-quick package
  2. Economy package
  3. Premier package
  4. Deluxe package
If you are thinking about setting up a business, and need it done quickly and easily with no additional requirements, then this package is the perfect choice.
This package is a cheap and efficient way to begin business, and includes the provision of a registered office address in London for the duration of one year.
This package is a not expensive and efficient way to begin business, and includes the provision of a registered office address in London and a nominee secretary for the duration of one year.
This package is one of the most cost effective and the efficient way to start a UK company, which includes a registered office address in London, a nominee secretary, and a nominee director for the duration of one year.
E-quick*
£32.00
Economy
£82.00
Premier
£207.00
Deluxe
£557.00
Private company limited by shares
No Annual Charges
Private company limited by shares
Annual Fee From: £50.00
Private company limited by shares
Annual Fee From: £175.00
Private company limited by shares
Annual Fee From: £525.00
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Further information

Private Company Limited by Shares:

  • A private company limited by shares in England and Wales must have at least one director, one shareholder, and may have a secretary.

  • You need at least one person to form this type of company. If there is only one director, and that director is a natural person in your company, that director can also act as the secretary.

  • A company must have at least one director who is a natural person. This requirement is met if the office of director is held by a natural person as a corporation sole or otherwise by virtue of an office.

  • You can register a sole director' company, if you are familiar with the secretaries duties and responsibilities, because all of them belongs to a sole director.

  • The directors and secretary of your company can also be shareholders.

  • The Companies Act imposes no restriction on the minimum age of company directors. However Companies House will actively discourage the appointment of anyone under the age of 16 from taking up a company directorship on the grounds that the individuals concerned may not fully understand the legal liabilities that go with the position and for the most part will not have the experience necessary to perform the duties of a company director.

  • Under the Companies Act 2006, there is no restriction on any or all of the members/shareholders being from an overseas country (i.e. outside the United Kingdom in terms of residency, domicile, citizenship, place of incorporation or all or any of those concepts).

  • There is no requirement for the officers of your company to be UK citizens or residents, nor for them to hold valid work permits.

  • Owning, or being an officer of a UK company does not, however, grant you any right to live or work in the UK if you are a foreign national.

  • Your company must have a registered office address within England or Wales; this is the official address of your company and will be on the public record as such.

  • Your company must hold its official company documents at its registered office address: its register of shareholders, and its constitutional documents.

  • So long as you maintain a registered office address in England or Wales, you can conduct your business from any place in the world: you do not have to run your business from your registered office address.

  • Coddan offers company formation, ready-made company registration for UK limited companies. We offer electronic filing enterprises & registering corporation services. In addition to business registrations, we offer trademark registration, shareholder agreements, toll-free numbers, telephone answering, virtual office and company searches for UK limited companies. You are an accountant for whom company establishment is a frequent activity or an individual ordering your first company registrations. Start a company by incorporating or forming a LTD, PLC or LLP at Coddan. Learn about incorporation & how to incorporate your business online: register a business name, company registration, business registration numbers, company house web filing - business name registration check. Whether you start-up online, register London business or form a corporation Scotland, we can help you understand the business start-up process for filing LTD United Kingdom.
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    Incorporate or form an LLC – online: company registrar United Kingdom, limited company formations & corporation registration, electronically LLC online, very easy and informative. In addition to private companies Great Britain, we offer trademark registration, shareholder agreements, 0870 numbers, telephone answering, virtual office and company searches for English companies. Information to help start, grow or manage a small business. If you are starting a business Edinburgh or starting own business Northern Ireland, read our starting business Republic of Ireland guide. Home business and small business training and ideas site to help you start Belfast, grow, and expand a home-based business or search for the work at home job right. An outline of the general steps for incorporation in Great Britain, explaining how to incorporate your business Dublin, from choosing where to incorporate your business. UK ready-made company formation services and company registrations online, our offices keep a stock of ready made companies, and would be happy to supply details on request. We offer offshore ready-made companies in different jurisdictions, readymade offshore companies also called as offshore shelf companies, shelf off-shore companies for sale: starting applying for a business name, business name registration partnership, grants for starting a business and starting a business from home.
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    Open company same-day and offshore setting-up services using our online starting-up service for Limited Liability Company Offshore companies. Start enjoying the tax benefits and personal liability protection that forming a corporation or Limited Liability Company (LLC) provides. Offshore company incorporation, offshore checking and offshore saving accounts, offshore time deposits, offshore mutual funds, offshore money market accounts and offshore asset protection provided by Coddan. Company formations, limited company formations, electronic incorporations, company formation agents, paperless company registrar, electronic companies filing, United Kingdom limited company, setting corporation Ireland, business incorporation Scotland, open company England, London company registration, electronic companies filing, British companies registrars, business consultants, company law, public limited company, plc, international companies, ltd, inc, limited liability, enterprise, organization, organization, tax, taxation, England, firm, partnership, trade, profession, contractors, business, private limited company, limited by shares, ready-made companies, readymade company, aged company, off the shelf company, shelf companies list.
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    Specializes in company registration and secretarial services. Provides list of shelf company, services and cost quotation, business name registration, company house direct, starting a business - sole trader business registration.

    This is actually a pretty good reason to incorporate in Delaware or Nevada. In fact, you could be a foreigner from Lebanon, never setting foot on American soil, form a Delaware corporation and no one would know who you are! However, many states will require the owners and/or officers and/or directors information while operating in that state (as a foreign corp.). Besides, how many small businesses require anonymity? Incorporate, incorporation, incorporating, incorporation services, incorporating services, incorporate Wyoming business online, incorporating Oregon business, New York LLC formation, Louisiana limited liability corporation, Texas articles of incorporation, Florida company incorporation, California non profit corporation, corporate name search offshore, BVI corporate name availability, Seychelles corporate name registration.
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    Learn about incorporation services UK and incorporate London online: starting your own business, business ideas, starting a business on ebay or buying a business with legal requirements for starting a business. Online England company formations, online company London W1 formation, Glasgow formation agent, Liverpool formations agent, Scottish companies house, forming a company Scotland, starting a business Wales, form a limited company Oxford, United Kingdom business registration agents, online Great Britain company registration. E-Business, small business, business structures defined: the limited liability company business structures defined: the limited liability company IRS treatment of the one-member LLC. An LLC with only one member / owner is automatically considered to be a sole proprietorship unless an election is made to be treated as a corporation. Thus, the sole member of an LLC will file (Form 1040), (U.S. Individual Income Tax Return), ideas for starting a business, grants for starting a business, starting a business from home, starting your own business - business ideas, starting a business on ebay, buying a business: legal requirements for starting a business, ideas for starting a business.
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    A business may be conducted by a company as an entity in its own right and comes into existence by incorporation under companies legislation which also regulates the running of the company and sets out the duties of its officers. In recent years trading trusts have been commonly used as the structure for carrying on a business with their main objective of tax minimization. A trust requires a trustee to act on behalf of a trust and it has been preferable to have a company newly incorporated to act as the trustee as it is believed that this limits the liability of the trust to the paid-up capital of the Trustee Company. A trust is formed by a gift or settlement being made to the trustee on behalf of the, as yet unformed, trust. A solicitor draws up a Trust Deed setting out the powers and formalizing the administration of the trust. The trust has beneficiaries rather than shareholders as in a company, who are entitled to distributions of capital and/or income and these distributions, are controlled by the trustee.
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    The distribution made to beneficiaries are subject to income tax as part of their personal income and are liable for provisional tax on these distributions. Citizens and residents of other countries may incorporate in the United Kingdom through the standard incorporation procedures set forth by each state. Provides UK company formations, trademark registration, registered office facilities and company secretary services. Professional company formation, register your company online, we may establish new business at one day. An online guide to starting up and expanding your business.
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    This is one of our most popular packages with worldwide customers, and includes: -

  • EQUICK-4 zvezdy :-****
  • Pomeniat' sro4no. Eto economy4 zvezdy. -

  • ECooonooomyy-4 zvezdy :-****
  • Premier blablabla 4 zvezdy. -

  • premier-4 zvezdy;)
  • Our Deluxe package is a fast and easy option, it is ideal for the UK, EU, and international small to medium businesses who wish to appoint a nominee director and a nominee secretary in order to maintain the anonymity of the real owner, and it includes: -

  • Incorporation of your company from scratch using one of our registered office addresses in London, our nominee director and nominee secretary. We can appoint your own candidate(s) to the role of shareholder(s), or you can appoint a nominee sharholder provided by Coddan;
  • The standard capital on formation is £1.00, this is divided into 1.00 ordinary share valued at £1.00 (a minimum of one share must be issued);
  • The formation of a limited company usually takes as little as four to six hours from the time that your application and payment are received by Coddan;
  • The government fee for incorporation is included in the price of this package;
    • The provision of a registered office address for 12 months is included in the price of this package (our registered office address service is charged annually);
    • The provision of a nominee secretary for 12 months is included in the price of this package (our nominee secretary service is charged annually);
    • The provision of a nominee director for 12 months is also included in the price of this package (our nominee director service is charged annually);

    The following two hard bound copies of corporate documents, will be send by post to you upon formation of your private limited company: -

  • A laminated copy of the certificate of incorporation of your company;
  • A hard bound copy of the memorandum and articles of association;
  • A hard bound copy of the minutes of the first meeting of directors;
  • Share certificates, and your company register;
  • The general power of attorney signed by a nominee director;
  • Pre-signed, undated resignation letter from a nominee director;
  • The agreement for the provision of nominee service and indemnification of nominee.
  • 2 zdezda deluxe. -

  • 2 zdezda deluxe)
  • 3 zdezda deluxe. -

  • 3 zdezda deluxe
  • 4 zdezda deluxe -

  • 4444444
  • This is our most popular package with the UK residents, and includes: -

  • The registration of your company from scratch using your own registered office address, and appoint your own candidates to the roles of director, secretary (if needed), and shareholder;
  • The standard capital on formation is £1.00, this is divided into 1.00 ordinary share valued at £1.00 (a minimum of one share must be issued);
  • The formation of a limited company usually takes as little as four to six hours from the time that your application and payment are received by Coddan;
  • The government fee for incorporation is included in the price of this package;
  • The following documents, which need to be printed and signed, will be e-mailed to you upon formation of your company: -

  • A certificate of incorporation (requires PDF file reader);
  • The memorandum & articles of association (requires PDF file reader);
  • The first meeting of the board of directors (requires PDF file reader);
  • Share certificates and a company register (requires PDF file reader).
  • *If you do not have an a valid address in the UK, which can be used as the registered office address for your company, please check our Economy package. The non-UK address cannot be acceptable as the office address for the UK company.

    This is our most popular package with the UK and EU residents, and includes: -

  • The registration your company from scratch using one of our registered office addresses, and appoint your own candidates to the roles of director, secretary (if needed), and shareholder;
  • The standard capital on formation is £1.00, this is divided into 1.00 ordinary share valued at £1.00 (a minimum of one share must be issued);
  • The formation of a limited company usually takes as little as four to six hours from the time that your application and payment are received by Coddan;
  • The government fee for incorporation is included in the price of this package;
    • The provision of a registered office address for 12 months is also included in the price of this package (our registered office address service is charged annually);

    The following documents, which need to be printed and signed, will be e-mailed to you upon formation of your company: -

  • A certificate of incorporation (requires PDF file reader);
  • The memorandum & articles of association (requires PDF file reader);
  • The first meeting of the board of directors (requires PDF file reader);
  • Share certificates and a company register (requires PDF file reader).
  • This is another one very popular package with worldwide customers, and includes: -

  • The formation of a company limited by guarantee usually takes as little as five to seven working days from the time that your application and payment are received by Coddan;
  • The incorporation your BVI company limited by guarantee from scratch using our registered agent & registered office address, and appoint your own candidate to the role of a members;
  • The government and initiation fees for incorporation are included in the price of this package;
  • The search for a company name availability, confirmation, and reservation;
  • An original certificate of incorporation
  • A hard bound copy of the memorandum & articles of association
  • The preparation and submission of the memorandum and articles of association;
  • A local registered office address and a local registered agent for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
  • The provision of a nominee director for one year is also included in the price of this package (our nominee director service is charged annually);

  • To receive an original of the certificate of incorporation from the Companies Registrar usually takes as little as two to three days from the time of incorporation.
  • The following hard bound copy of corporate documents, will be posted to you upon formation of your company limited by guarantee: -

  • An original certificate of incorporation;
  • A hard bound copy of the memorandum and articles of association;
  • The minutes of the first meeting of the board of directors;
  • A completed register of directors and members;
  • An elegant printed membership certificates;
  • A pliers seal.
  • The general power of attorney signed by a nominee director (additional fee applies);
  • Pre-signed, undated resignation letter from a nominee director;
  • The agreement for the provision of a nominee service and indemnification of nominee.
  • This is our most popular package with international customers, and includes: -

  • The formation of a company limited by guarantee usually takes as little as five to seven working days from the time that your application and payment are received by Coddan;
  • The registration your BVI company limited by guarantee from scratch using our registered agent & registered office address, and appoint our own candidates to the role of a nominee director and a nominee member;
  • The government and initiation fees for incorporation are included in the price of this package;
  • The search for a company name availability, confirmation, and reservation;
  • The preparation and submission of the memorandum and articles of association;
  • A local registered office address and a local registered agent for one year are included in the price of this package (our registered agent & office address service are charged annually);
  • The provision of a nominee director for 12 months is included in the price of this package (our nominee director service is charged annually);
  • A completed register of directors and members
  • The provision of a nominee member for 12 months is also included in the price of this package (our nominee member service is charged annually);

  • To receive an original of the certificate of incorporation from the Companies Registrar usually takes as little as two to three days from the time of incorporation.
  • The following hard bound copy of corporate documents, will be posted to you upon formation of your company limited by guarantee: -

  • An original certificate of incorporation;
  • A hard bound copy of the memorandum and articles of association;
  • The minutes of the first meeting of the board of directors;
  • A completed register of directors and members;
  • An elegant printed membership certificates;
  • A pliers seal.
  • Pre-signed, undated letters of resignation from a nominee director and a nominee member;
  • A general power of attorney signed by a nominee director (additional fee applies);
  • A declaration of trust from a nominee member;
  • An indemnity letter for the power of attorney;
  • A nominee agreement which provides for the indemnification of the nominees.
  • This is another one of our most popular packages for small and medium size businesses, such as those being run by a sole director from home, and for companies owned by overseas residents who still need a local registered office address, but would rather not open a local office in the UK;

    This package is often chosen by such customers, who are looking to minimise a sole director' personal liability (and who are not quite familiar with the UK corporate legislation), because this package includes thye provision of a nominee secretary for 12 months. This package is also includes: -

  • The registration your company from scratch using one of our registered office addresses, and appoint your own candidates to the roles of director, and shareholder;
  • The standard capital on formation is £1.00, this is divided into 1.00 ordinary share valued at £1.00 (a minimum of one share must be issued);
  • The formation of a limited company usually takes as little as four to six hours from the time that your application and payment are received by Coddan;
  • The government fee for incorporation is included in the price of this package;
    • The provision of a registered office address for 12 months is included in the price of this package (our registered office address service is charged annually);
    • The provision of a nominee secretary for 12 months is also included in the price of this package (our nominee secretary service is charged annually);

    The following hard bound copy of the corporate documents, will be send by post to you, upon formation of your private limited company: -

  • A laminated copy of the certificate of incorporation of your company;
  • A hard bound copy of the memorandum and articles of association;
  • A hard bound copy of the minutes of the first meeting of directors;
  • Share certificates, and your company register.
  • This is another one very popular package with worldwide customers, and includes: -

  • The formation of a limited partnership usually takes as little as five to seven working days from the time that your application and payment are received by Coddan;
  • The incorporation your BVI offshore limited partnership from scratch using our registered agent & registered office address, and appoint your own candidate to the role of a general partner;
  • The government and initiation fees for registration are included in the price of this package;
  • The search for a limited partnership name availability, confirmation, and reservation;
  • The preparation and submission of the partnership agreement;
  • A local registered office address and a local registered agent for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
  • The provision of a nominee limited partner for one year is also included in the price of this package (our nominee limited partner service is charged annually);

  • To receive an original of the certificate of incorporation from the Companies Registrar usually takes as little as two to three days from the time of incorporation.
  • The following hard bound copy of corporate documents, will be posted to you upon formation of your offshore company: -

  • An original certificate of incorporation;
  • A hard bound copy of the partnership agreement;
  • The minutes of the first meeting of the board of partners;
  • A completed register of partners;
  • An elegant printed membership certificates;
  • A pliers seal;
  • The general power of attorney signed by a nominee limited partner (additional fee applies);
  • Pre-signed, undated resignation letter from a nominee limited partner;
  • The agreement for the provision of a nominee service and indemnification of nominee.
  • This is our most popular package with international customers, and includes: -

    This is our most popular package with international customers, and includes: -

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    Organization Structures Business, Incorporate Your Business Online, Incorporation Services at Affordable Prices, Learn About Incorporating and How to IncorporateSetting up a Business in United Kingdom, Incorporatin Business, Forming an LLC, Incorporate online in Delaware, Nevada, London, Florida, New YorkCompany UK Formation, Online UK Company Formation Agents, Plus a Wide Range of Ready-Made Companies Available and Vintage CompaniesWhat are the Advantages of Incorporation? You Can Now Form Your UK Limited Company Online Using Our Company Registration AgentHow Do I Get Started With the Registration Process? Company Formation & Registration of Offshore Companies Incorporation ServiceUK Limited Company Formation and Offshore Companies Incorporation Service, We Provide Online New Company Formations and Offshore Readymade CorporationSetting up a Business in United Kingdom, Cheap IBC Incorporation Offshore Anonymous Banking Internet Offshore Bank AccountUK Company Formation, Online Company Registration Agent Offering Same-Day Company Formation, Business BankingServices Include Companies Formation and Administration, Trademark, Intellectual Property, Company Search ServicesAn On-Line Resource to Setting-Up a Private Limited Company Without Hiring a Solicitor or Formation AgenStarting a Business Information, Advice and Information for Starting a New Business in the UK Including UK Business Start-UpHelp in Starting Up a Business Up-to-Date Advice and Strategies, Start Your Own Business and Gain Your Independence!Incorporate a Business in Any State, London, Glasgow, Form an LLC, Conduct a Trademark Search OnlineSmall Business Resources for Starting a Small Business, Small Business Marketing
    Financial Services and Markets Act 2000
    2000 Chapter c.8 - continued

    back to previous text
     
     PART XXIV
     INSOLVENCY
     
    Interpretation
    Interpretation of this Part.    355. - (1) In this Part-
     
     
      "the 1985 Act" means the Bankruptcy (Scotland) Act 1985;
     
      "the 1986 Act" means the Insolvency Act 1986;
     
      "the 1989 Order" means the Insolvency (Northern Ireland) Order 1989;
     
      "body" means a body of persons-
     
        (a) over which the court has jurisdiction under any provision of, or made under, the 1986 Act (or the 1989 Order); but
     
        (b) which is not a building society, a friendly society or an industrial and provident society; and
     
      "court" means-
     
        (a) the court having jurisdiction for the purposes of the 1985 Act or the 1986 Act; or
     
        (b) in Northern Ireland, the High Court.
         (2) In this Part "insurer" has such meaning as may be specified in an order made by the Treasury.
     
     
    Voluntary arrangements
    Authority's powers to participate in proceedings: company voluntary arrangements.    356. - (1) This section applies if a voluntary arrangement has been approved under Part I of the 1986 Act (or Part II of the 1989 Order) in respect of a company or insolvent partnership which is an authorised person.
     
         (2) The Authority may make an application to the court in relation to the company or insolvent partnership under section 6 of the 1986 Act (or Article 19 of the 1989 Order).
     
         (3) If a person other than the Authority makes an application to the court in relation to the company or insolvent partnership under either of those provisions, the Authority is entitled to be heard at any hearing relating to the application.
     
    Authority's powers to participate in proceedings: individual voluntary arrangements.    357. - (1) The Authority is entitled to be heard on an application by an individual who is an authorised person under section 253 of the 1986 Act (or Article 227 of the 1989 Order).
     
         (2) Subsections (3) to (6) apply if such an order is made on the application of such a person.
     
         (3) A person appointed for the purpose by the Authority is entitled to attend any meeting of creditors of the debtor summoned under section 257 of the 1986 Act (or Article 231 of the 1989 Order).
     
         (4) Notice of the result of a meeting so summoned is to be given to the Authority by the chairman of the meeting.
     
         (5) The Authority may apply to the court-
     
     
      (a) under section 262 of the 1986 Act (or Article 236 of the 1989 Order); or
     
      (b) under section 263 of the 1986 Act (or Article 237 of the 1989 Order).
         (6) If a person other than the Authority makes an application to the court under any provision mentioned in subsection (5), the Authority is entitled to be heard at any hearing relating to the application.
     
    Authority's powers to participate in proceedings: trust deeds for creditors in Scotland.    358. - (1) This section applies where a trust deed has been granted by or on behalf of a debtor who is an authorised person.
     
         (2) The trustee must, as soon as practicable after he becomes aware that the debtor is an authorised person, send to the Authority-
     
     
      (a) in every case, a copy of the trust deed;
     
      (b) where any other document or information is sent to every creditor known to the trustee in pursuance of paragraph 5(1)(c) of Schedule 5 to the 1985 Act, a copy of such document or information.
         (3) Paragraph 7 of that Schedule applies to the Authority as if it were a qualified creditor who has not been sent a copy of the notice as mentioned in paragraph 5(1)(c) of the Schedule.
     
         (4) The Authority must be given the same notice as the creditors of any meeting of creditors held in relation to the trust deed.
     
         (5) A person appointed for the purpose by the Authority is entitled to attend and participate in (but not to vote at) any such meeting of creditors as if the Authority were a creditor under the deed.
     
         (6) This section does not affect any right the Authority has as a creditor of a debtor who is an authorised person.
     
         (7) Expressions used in this section and in the 1985 Act have the same meaning in this section as in that Act.
     
     
    Administration orders
    Petitions.    359. - (1) The Authority may present a petition to the court under section 9 of the 1986 Act (or Article 22 of the 1989 Order) in relation to a company or insolvent partnership which-
     
     
      (a) is, or has been, an authorised person;
     
      (b) is, or has been, an appointed representative; or
     
      (c) is carrying on, or has carried on, a regulated activity in contravention of the general prohibition.
         (2) Subsection (3) applies in relation to a petition presented by the Authority by virtue of this section.
     
         (3) If the company or partnership is in default on an obligation to pay a sum due and payable under an agreement, it is to be treated for the purpose of section 8(1)(a) of the 1986 Act (or Article 21(1)(a) of the 1989 Order) as unable to pay its debts.
     
         (4) "Agreement" means an agreement the making or performance of which constitutes or is part of a regulated activity carried on by the company or partnership.
     
         (5) "Company" means-
     
     
      (a) a company to which section 8 of the 1986 Act applies; or
     
      (b) in relation to Northern Ireland, a company to which Article 21 of the 1989 Order applies.
    Insurers.    360. - (1) The Treasury may by order provide that such provisions of Part II of the 1986 Act (or Part III of the 1989 Order) as may be specified are to apply in relation to insurers with such modifications as may be specified.
     
         (2) An order under this section-
     
     
      (a) may provide that such provisions of this Part as may be specified are to apply in relation to the administration of insurers in accordance with the order with such modifications as may be specified; and
     
      (b) requires the consent of the Secretary of State.
         (3) "Specified" means specified in the order.
     
    Administrator's duty to report to Authority.    361. - (1) If-
     
     
      (a) an administration order is in force in relation to a company or partnership by virtue of a petition presented by a person other than the Authority, and
     
      (b) it appears to the administrator that the company or partnership is carrying on, or has carried on, a regulated activity in contravention of the general prohibition,
     the administrator must report the matter to the Authority without delay.
     
         (2) "An administration order" means an administration order under Part II of the 1986 Act (or Part III of the 1989 Order).
     
    Authority's powers to participate in proceedings.    362. - (1) This section applies if a person other than the Authority presents a petition to the court under section 9 of the 1986 Act (or Article 22 of the 1989 Order) in relation to a company or partnership which-
     
     
      (a) is, or has been, an authorised person;
     
      (b) is, or has been, an appointed representative; or
     
      (c) is carrying on, or has carried on, a regulated activity in contravention of the general prohibition.
         (2) The Authority is entitled to be heard-
     
     
      (a) at the hearing of the petition; and
     
      (b) at any other hearing of the court in relation to the company or partnership under Part II of the 1986 Act (or Part III of the 1989 Order).
         (3) Any notice or other document required to be sent to a creditor of the company or partnership must also be sent to the Authority.
     
         (4) The Authority may apply to the court under section 27 of the 1986 Act (or Article 39 of the 1989 Order); and on such an application, section 27(1)(a) (or Article 39(1)(a)) has effect with the omission of the words "(including at least himself)".
     
         (5) A person appointed for the purpose by the Authority is entitled-
     
     
      (a) to attend any meeting of creditors of the company or partnership summoned under any enactment;
     
      (b) to attend any meeting of a committee established under section 26 of the 1986 Act (or Article 38 of the 1989 Order); and
     
      (c) to make representations as to any matter for decision at such a meeting.
         (6) If, during the course of the administration of a company, a compromise or arrangement is proposed between the company and its creditors, or any class of them, the Authority may apply to the court under section 425 of the Companies Act 1985 (or Article 418 of the Companies (Northern Ireland) Order 1986).
     
     
    Receivership
    Authority's powers to participate in proceedings.    363. - (1) This section applies if a receiver has been appointed in relation to a company which-
     
     
      (a) is, or has been, an authorised person;
     
      (b) is, or has been, an appointed representative; or
     
      (c) is carrying on, or has carried on, a regulated activity in contravention of the general prohibition.
         (2) The Authority is entitled to be heard on an application made under section 35 or 63 of the 1986 Act (or Article 45 of the 1989 Order).
     
         (3) The Authority is entitled to make an application under section 41(1)(a) or 69(1)(a) of the 1986 Act (or Article 51(1)(a) of the 1989 Order).
     
         (4) A report under section 48(1) or 67(1) of the 1986 Act (or Article 58(1) of the 1989 Order) must be sent by the person making it to the Authority.
     
         (5) A person appointed for the purpose by the Authority is entitled-
     
     
      (a) to attend any meeting of creditors of the company summoned under any enactment;
     
      (b) to attend any meeting of a committee established under section 49 or 68 of the 1986 Act (or Article 59 of the 1989 Order); and
     
      (c) to make representations as to any matter for decision at such a meeting.
    Receiver's duty to report to Authority.    364. If-
     
     
      (a) a receiver has been appointed in relation to a company, and
     
      (b) it appears to the receiver that the company is carrying on, or has carried on, a regulated activity in contravention of the general prohibition,
     the receiver must report the matter to the Authority without delay.
     
     
    Voluntary winding up
    Authority's powers to participate in proceedings.    365. - (1) This section applies in relation to a company which-
     
     
      (a) is being wound up voluntarily;
     
      (b) is an authorised person; and
     
      (c) is not an insurer effecting or carrying out contracts of long-term insurance.
         (2) The Authority may apply to the court under section 112 of the 1986 Act (or Article 98 of the 1989 Order) in respect of the company.
     
         (3) The Authority is entitled to be heard at any hearing of the court in relation to the voluntary winding up of the company.
     
         (4) Any notice or other document required to be sent to a creditor of the company must also be sent to the Authority.
     
         (5) A person appointed for the purpose by the Authority is entitled-
     
     
      (a) to attend any meeting of creditors of the company summoned under any enactment;
     
      (b) to attend any meeting of a committee established under section 101 of the 1986 Act (or Article 87 of the 1989 Order); and
     
      (c) to make representations as to any matter for decision at such a meeting.
         (6) The voluntary winding up of the company does not bar the right of the Authority to have it wound up by the court.
     
         (7) If, during the course of the winding up of the company, a compromise or arrangement is proposed between the company and its creditors, or any class of them, the Authority may apply to the court under section 425 of the Companies Act 1985 (or Article 418 of the Companies (Northern Ireland) Order 1986).
     
    Insurers effecting or carrying out long-term contracts or insurance.    366. - (1) An insurer effecting or carrying out contracts of long-term insurance may not be wound up voluntarily without the consent of the Authority.
     
         (2) If notice of a general meeting of such an insurer is given, specifying the intention to propose a resolution for voluntary winding up of the insurer, a director of the insurer must notify the Authority as soon as practicable after he becomes aware of it.
     
         (3) A person who fails to comply with subsection (2) is guilty of an offence and liable on summary conviction to a fine not exceeding level 5 on the standard scale.
     
         (4) The following provisions do not apply in relation to a winding-up resolution-
     
     
      (a) sections 378(3) and 381A of the Companies Act 1985 ("the 1985 Act"); and
     
      (b) Articles 386(3) and 389A of the Companies (Northern Ireland) Order 1986 ("the 1986 Order").
         (5) A copy of a winding-up resolution forwarded to the registrar of companies in accordance with section 380 of the 1985 Act (or Article 388 of the 1986 Order) must be accompanied by a certificate issued by the Authority stating that it consents to the voluntary winding up of the insurer.
     
         (6) If subsection (5) is complied with, the voluntary winding up is to be treated as having commenced at the time the resolution was passed.
     
         (7) If subsection (5) is not complied with, the resolution has no effect.
     
         (8) "Winding-up resolution" means a resolution for voluntary winding up of an insurer effecting or carrying out contracts of long-term insurance.
     
     
    Winding up by the court
    Winding-up petitions.    367. - (1) The Authority may present a petition to the court for the winding up of a body which-
     
     
      (a) is, or has been, an authorised person;
     
      (b) is, or has been, an appointed representative; or
     
      (c) is carrying on, or has carried on, a regulated activity in contravention of the general prohibition.
         (2) In subsection (1) "body" includes any partnership.
     
         (3) On such a petition, the court may wind up the body if-
     
     
      (a) the body is unable to pay its debts within the meaning of section 123 or 221 of the 1986 Act (or Article 103 or 185 of the 1989 Order); or
     
      (b) the court is of the opinion that it is just and equitable that it should be wound up.
         (4) If a body is in default on an obligation to pay a sum due and payable under an agreement, it is to be treated for the purpose of subsection (3)(a) as unable to pay its debts.
     
         (5) "Agreement" means an agreement the making or performance of which constitutes or is part of a regulated activity carried on by the body concerned.
     
         (6) Subsection (7) applies if a petition is presented under subsection (1) for the winding up of a partnership-
     
     
      (a) on the ground mentioned in subsection (3)(b); or
     
      (b) in Scotland, on a ground mentioned in subsection (3)(a) or (b).
         (7) The court has jurisdiction, and the 1986 Act (or the 1989 Order) has effect, as if the partnership were an unregistered company as defined by section 220 of that Act (or Article 184 of that Order).
     
    Winding-up petitions: EEA and Treaty firms.    368. The Authority may not present a petition to the court under section 367 for the winding up of-
     
     
      (a) an EEA firm which qualifies for authorisation under Schedule 3, or
     
      (b) a Treaty firm which qualifies for authorisation under Schedule 4,
     unless it has been asked to do so by the home state regulator of the firm concerned.
     
    Insurers: service of petition etc. on Authority.    369. - (1) If a person other than the Authority presents a petition for the winding up of an authorised person with permission to effect or carry out contracts of insurance, the petitioner must serve a copy of the petition on the Authority.
     
         (2) If a person other than the Authority applies to have a provisional liquidator appointed under section 135 of the 1986 Act (or Article 115 of the 1989 Order) in respect of an authorised person with permission to effect or carry out contracts of insurance, the applicant must serve a copy of the application on the Authority.
     
    Liquidator's duty to report to Authority.    370. If-
     
     
      (a) a company is being wound up voluntarily or a body is being wound up on a petition presented by a person other than the Authority, and
     
      (b) it appears to the liquidator that the company or body is carrying on, or has carried on, a regulated activity in contravention of the general prohibition,
     the liquidator must report the matter to the Authority without delay.
     
    Authority's powers to participate in proceedings.    371. - (1) This section applies if a person other than the Authority presents a petition for the winding up of a body which-
     
     
      (a) is, or has been, an authorised person;
     
      (b) is, or has been, an appointed representative; or
     
      (c) is carrying on, or has carried on, a regulated activity in contravention of the general prohibition.
         (2) The Authority is entitled to be heard-
     
     
      (a) at the hearing of the petition; and
     
      (b) at any other hearing of the court in relation to the body under or by virtue of Part IV or V of the 1986 Act (or Part V or VI of the 1989 Order).
         (3) Any notice or other document required to be sent to a creditor of the body must also be sent to the Authority.
     
         (4) A person appointed for the purpose by the Authority is entitled-
     
     
      (a) to attend any meeting of creditors of the body;
     
      (b) to attend any meeting of a committee established for the purposes of Part IV or V of the 1986 Act under section 101 of that Act or under section 141 or 142 of that Act;
     
      (c) to attend any meeting of a committee established for the purposes of Part V or VI of the 1989 Order under Article 87 of that Order or under Article 120 of that Order; and
     
      (d) to make representations as to any matter for decision at such a meeting.
         (5) If, during the course of the winding up of a company, a compromise or arrangement is proposed between the company and its creditors, or any class of them, the Authority may apply to the court under section 425 of the Companies Act 1985 (or Article 418 of the Companies (Northern Ireland) Order 1986).
     
     
    Bankruptcy
    Petitions.    372. - (1) The Authority may present a petition to the court-
     
     
      (a) under section 264 of the 1986 Act (or Article 238 of the 1989 Order) for a bankruptcy order to be made against an individual; or
     
      (b) under section 5 of the 1985 Act for the sequestration of the estate of an individual.
         (2) But such a petition may be presented only on the ground that-
     
     
      (a) the individual appears to be unable to pay a regulated activity debt; or
     
      (b) the individual appears to have no reasonable prospect of being able to pay a regulated activity debt.
         (3) An individual appears to be unable to pay a regulated activity debt if he is in default on an obligation to pay a sum due and payable under an agreement.
     
         (4) An individual appears to have no reasonable prospect of being able to pay a regulated activity debt if-
     
     
      (a) the Authority has served on him a demand requiring him to establish to the satisfaction of the Authority that there is a reasonable prospect that he will be able to pay a sum payable under an agreement when it falls due;
     
      (b) at least three weeks have elapsed since the demand was served; and
     
      (c) the demand has been neither complied with nor set aside in accordance with rules.
         (5) A demand made under subsection (4)(a) is to be treated for the purposes of the 1986 Act (or the 1989 Order) as if it were a statutory demand under section 268 of that Act (or Article 242 of that Order).
     
         (6) For the purposes of a petition presented in accordance with subsection (1)(b)-
     
     
      (a) the Authority is to be treated as a qualified creditor; and
     
      (b) a ground mentioned in subsection (2) constitutes apparent insolvency.
         (7) "Individual" means an individual-
     
     
      (a) who is, or has been, an authorised person; or
     
      (b) who is carrying on, or has carried on, a regulated activity in contravention of the general prohibition.
         (8) "Agreement" means an agreement the making or performance of which constitutes or is part of a regulated activity carried on by the individual concerned.
     
         (9) "Rules" means-
     
     
      (a) in England and Wales, rules made under section 412 of the 1986 Act;
     
      (b) in Scotland, rules made by order by the Treasury, after consultation with the Scottish Ministers, for the purposes of this section; and
     
      (c) in Northern Ireland, rules made under Article 359 of the 1989 Order.
    Insolvency practitioner's duty to report to Authority.    373. - (1) If-
     
     
      (a) a bankruptcy order or sequestration award is in force in relation to an individual by virtue of a petition presented by a person other than the Authority, and
     
      (b) it appears to the insolvency practitioner that the individual is carrying on, or has carried on, a regulated activity in contravention of the general prohibition,
     the insolvency practitioner must report the matter to the Authority without delay.
     
         (2) "Bankruptcy order" means a bankruptcy order under Part IX of the 1986 Act (or Part IX of the 1989 Order).
     
         (3) "Sequestration award" means an award of sequestration under section 12 of the 1985 Act.
     
         (4) "Individual" includes an entity mentioned in section 374(1)(c).
     
    Authority's powers to participate in proceedings.    374. - (1) This section applies if a person other than the Authority presents a petition to the court-
     
     
      (a) under section 264 of the 1986 Act (or Article 238 of the 1989 Order) for a bankruptcy order to be made against an individual;
     
      (b) under section 5 of the 1985 Act for the sequestration of the estate of an individual; or
     
      (c) under section 6 of the 1985 Act for the sequestration of the estate belonging to or held for or jointly by the members of an entity mentioned in subsection (1) of that section.
         (2) The Authority is entitled to be heard-
     
     
      (a) at the hearing of the petition; and
     
      (b) at any other hearing in relation to the individual or entity under-
     
        (i) Part IX of the 1986 Act;
     
        (ii) Part IX of the 1989 Order; or
     
        (iii) the 1985 Act.
         (3) A copy of the report prepared under section 274 of the 1986 Act (or Article 248 of the 1989 Order) must also be sent to the Authority.
     
         (4) A person appointed for the purpose by the Authority is entitled-
     
     
      (a) to attend any meeting of creditors of the individual or entity;
     
      (b) to attend any meeting of a committee established under section 301 of the 1986 Act (or Article 274 of the 1989 Order);
     
      (c) to attend any meeting of commissioners held under paragraph 17 or 18 of Schedule 6 to the 1985 Act; and
     
      (d) to make representations as to any matter for decision at such a meeting.
         (5) "Individual" means an individual who-
     
     
      (a) is, or has been, an authorised person; or
     
      (b) is carrying on, or has carried on, a regulated activity in contravention of the general prohibition.
         (6) "Entity" means an entity which-
     
     
      (a) is, or has been, an authorised person; or
     
      (b) is carrying on, or has carried on, a regulated activity in contravention of the general prohibition.
     
    Provisions against debt avoidance
    Authority's right to apply for an order.    375. - (1) The Authority may apply for an order under section 423 of the 1986 Act (or Article 367 of the 1989 Order) in relation to a debtor if-
     
     
      (a) at the time the transaction at an undervalue was entered into, the debtor was carrying on a regulated activity (whether or not in contravention of the general prohibition); and
     
      (b) a victim of the transaction is or was party to an agreement entered into with the debtor, the making or performance of which constituted or was part of a regulated activity carried on by the debtor.
         (2) An application made under this section is to be treated as made on behalf of every victim of the transaction to whom subsection (1)(b) applies.
     
         (3) Expressions which are given a meaning in Part XVI of the 1986 Act (or Article 367, 368 or 369 of the 1989 Order) have the same meaning when used in this section.
     
     
    Supplemental provisions concerning insurers
    Continuation of contracts of long-term insurance where insurer in liquidation.    376. - (1) This section applies in relation to the winding up of an insurer which effects or carries out contracts of long-term insurance.
     
         (2) Unless the court otherwise orders, the liquidator must carry on the insurer's business so far as it consists of carrying out the insurer's contracts of long-term insurance with a view to its being transferred as a going concern to a person who may lawfully carry out those contracts.
     
         (3) In carrying on the business, the liquidator-
     
     
      (a) may agree to the variation of any contracts of insurance in existence when the winding up order is made; but
     
      (b) must not effect any new contracts of insurance.
         (4) If the liquidator is satisfied that the interests of the creditors in respect of liabilities of the insurer attributable to contracts of long-term insurance effected by it require the appointment of a special manager, he may apply to the court.
     
         (5) On such an application, the court may appoint a special manager to act during such time as the court may direct.
     
         (6) The special manager is to have such powers, including any of the powers of a receiver or manager, as the court may direct.
     
         (7) Section 177(5) of the 1986 Act (or Article 151(5) of the 1989 Order) applies to a special manager appointed under subsection (5) as it applies to a special manager appointed under section 177 of the 1986 Act (or Article 151 of the 1989 Order).
     
         (8) If the court thinks fit, it may reduce the value of one or more of the contracts of long-term insurance effected by the insurer.
     
         (9) Any reduction is to be on such terms and subject to such conditions (if any) as the court thinks fit.
     
         (10) The court may, on the application of an official, appoint an independent actuary to investigate the insurer's business so far as it consists of carrying out its contracts of long-term insurance and to report to the official-
     
     
      (a) on the desirability or otherwise of that part of the insurer's business being continued; and
     
      (b) on any reduction in the contracts of long-term insurance effected by the insurer that may be necessary for successful continuation of that part of the insurer's business.
         (11) "Official" means-
     
     
      (a) the liquidator;
     
      (b) a special manager appointed under subsection (5); or
     
      (c) the Authority.
         (12) The liquidator may make an application in the name of the insurer and on its behalf under Part VII without obtaining the permission that would otherwise be required by section 167 of, and Schedule 4 to, the 1986 Act (or Article 142 of, and Schedule 2 to, the 1989 Order).
     
    Reducing the value of contracts instead of winding up.    377. - (1) This section applies in relation to an insurer which has been proved to be unable to pay its debts.
     
         (2) If the court thinks fit, it may reduce the value of one or more of the insurer's contracts instead of making a winding up order.
     
         (3) Any reduction is to be on such terms and subject to such conditions (if any) as the court thinks fit.
     
    Treatment of assets on winding up.    378. - (1) The Treasury may by regulations provide for the treatment of the assets of an insurer on its winding up.
     
         (2) The regulations may, in particular, provide for-
     
     
      (a) assets representing a particular part of the insurer's business to be available only for meeting liabilities attributable to that part of the insurer's business;
     
      (b) separate general meetings of the creditors to be held in respect of liabilities attributable to a particular part of the insurer's business.
    Winding-up rules.    379. - (1) Winding-up rules may include provision-
     
     
      (a) for determining the amount of the liabilities of an insurer to policyholders of any class or description for the purpose of proof in a winding up; and
     
      (b) generally for carrying into effect the provisions of this Part with respect to the winding up of insurers.
         (2) Winding-up rules may, in particular, make provision for all or any of the following matters-
     
     
      (a) the identification of assets and liabilities;
     
      (b) the apportionment, between assets of different classes or descriptions, of-
     
        (i) the costs, charges and expenses of the winding up; and
     
        (ii) any debts of the insurer of a specified class or description;
     
      (c) the determination of the amount of liabilities of a specified description;
     
      (d) the application of assets for meeting liabilities of a specified description;
     
      (e) the application of assets representing any excess of a specified description.
         (3) "Specified" means specified in winding-up rules.
     
         (4) "Winding-up rules" means rules made under section 411 of the 1986 Act (or Article 359 of the 1989 Order).
     
         (5) Nothing in this section affects the power to make winding-up rules under the 1986 Act or the 1989 Order.
     
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