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GLOSSARY

Interim bankruptcy restrictions order definition

What does Interim bankruptcy restrictions order mean?

An interim order that imposes restrictions upon a bankrupt pending the determination of an application for a bankruptcy restrictions order.

The court may grant an interim bankruptcy restrictions order, upon the application of Secretary of State or the official receiver, at any time between the institution of an application for a bankruptcy restrictions order and the determination of such application. Before the court can grant such an order it must be satisfied that there are prima facie grounds to suggest that the application for a bankruptcy restrictions order will be successful, and that it is in the public interest to make an interim order.

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Breach of bankruptcy restriction order

Bankruptcy restrictionsFollowing an order for bankruptcy, the bankrupt person is prohibited form a number activities for a period of 12 months while the order is in place or for a shorter period if the order is discharged.The prohibited activities are:•obtaining credit over the prescribed amount either alone or jointly with any another person without disclosing bankruptcy (this includes ordering goods without asking for credit and then failing to pay for them when they are delivered)•carrying on business (directly or indirectly) in a different name from that in which the bankruptcy order was made, without telling all those with whom business is conducted the name in which he was made bankrupt, and•being concerned (directly or indirectly) in promoting, forming or managing a limited company, or acting as a company director, without the court’s permission, whether formally appointed as a director or notSee Practice Notes: Obtaining credit without disclosure of status and False statements and failing to inform.In addition to the 12 month restrictions on a bankrupt individual, a Bankruptcy restriction order...

Discover our 1 Practice Notes on Interim bankruptcy restrictions order

[SCHEDULE 4A Bankruptcy Restrictions Order and Undertaking]

(1) A bankruptcy restrictions order may be made by the court.(2) An order may be made only on the application of—(a) the Secretary of State, or(b) the official receiver acting on a direction of the Secretary of State.

Interim bankruptcy restrictions order is referenced 1 in UK Parliament Acts