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Insolvency events in relation to an individual

Section 121(2) & Regulation 5 of the Pension Protection Fund (Entry Rules) Regulations 2005

An insolvency event occurs in relation to an individual where:

a he is adjudged bankrupt or sequestration of their estate has been awarded;

b a nominee submits a report to the court pursuant to section 256(1) or 256A(3) of the Insolvency Act 1986 stating his opinion that a meeting of the creditors should be called to consider the proposals;

c a deed of arrangement made by or in respect of the affairs of the individual is registered in accordance with the Deeds of Arrangement Act 1914;

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

e he has died and:
   i an insolvency administration order is made, or
   ii a judicial factor appointed under section 11A of the Judicial Factors (Scotland) Act 1889 is required by that section to divide the individual’s estate amongst their creditors.