The Insolvency (Scotland) Rules 2018 (Miscellaneous Amendments) Rules 2019 (2019 No. 1059 (S. 3)) have been laid in the UK Parliament and are due to come into effect on 23 July 2019. This instrument addresses and clarifies the following aspects of the I(S)RWUR18:
Rule 3.11(3) Delivery of draft final account to members (section 94)
In a Members Voluntary Liquidation, with the written approval of each of the members, the eight week period can be shortened allowing the case to be completed and the liquidator to vacate office early.
Paragraph 7(1) and 7(2) of Schedule 2 (Transitional and savings provisions) - Progress reports and statements to the registrar of companies
Paragraph 7(1) has been amended and Paragraph 7(2) has been removed. The effects of these changes are:
- where a requirement to prepare a progress report has fallen due prior to 6 April 2019 and it has not yet been completed the 1986 Rules continue to apply for the purposes of that particular report; and
- in all cases (irrespective of the petition/appointment date) where the requirement to prepare a report falls due after 6 April 2019, the reports follow the requirements of Part 7 of the I(S)RWUR18, i.e, all cases move to the new reporting requirements for post 6 April 2019 reports.