121 Insolvency event, insolvency date and insolvency practitioner
Pensions Act 2004 (2004 c 35) | Legislation

121  Insolvency event, insolvency date and insolvency practitioner

(1)     In this Part each of the following expressions has the meaning given to it by this section—

“insolvency event”

“insolvency date”

“insolvency practitioner”.

(2)     An insolvency event occurs in relation to an individual where—

(a)     he is [made] bankrupt or sequestration of his estate has been awarded;

(b)     the nominee in relation to a proposal for a voluntary arrangement under Part 8 of the Insolvency Act 1986 (c 45) submits a report to the court under section 256(1) or 256A(3) of that Act which states that in his opinion [the individual's creditors should] consider the debtor's proposal;

(c)     . . .

(d)     he executes a trust deed for his creditors or enters into a composition contract;

(e)     he has died and—

(i)     an insolvency administration order is made in respect of his estate in accordance with an order under section 421 of the Insolvency Act 1986, or

(ii)     a judicial factor appointed under section 11A of the Judicial Factors (Scotland) Act 1889 (c 39) is required by that section to divide the individual's estate among his creditors.

(3)     An insolvency event occurs in relation to a company where—

(a)

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