Companies Act 2014 section 1416

Preliminary and interpretation (Chapter 1)

Section 1416 provides interpretative guidance for Chapter 1, confirming the scope of the foreign insolvency provisions and clarifying how references to the EU Insolvency Regulation should be read throughout the Chapter.

• Sections 1419 to 1428, which re-enact the European Communities (Corporate Insolvency) Regulations 2002, apply not only to winding-up proceedings under Part 11 but also to examinership proceedings under Part 10.
• Any reference to a numbered Article in this Chapter is a reference to the corresponding Article of the EU Insolvency Regulation, unless the context clearly indicates otherwise or section 1422 provides a specific exception.
• The EU Insolvency Regulation establishes common rules on court jurisdiction, applicable law, and mutual recognition of insolvency decisions across EU member states.
• The Regulation is designed to prevent debtors — whether companies, traders, or individuals — from moving assets or shifting legal proceedings between countries to gain a more favourable legal position.