PART 1: PART 1: Application, Commencement and Interpretation
Article 1 - Citation
Regulationsmay be referred to as the Insolvency Regulations 2005.
Article 2 - Application
Regulationsare made by the Ministerpursuant to Article 9 of the QFC Law and shall apply in the QFC. To the fullest extent permitted by the QFC Law, the laws, rules and regulations of the Stateconcerning the insolvency, liquidation, winding up, administration and analogous procedures in relation to companies and other bodies corporate and branches shall not apply in the QFC.
Article 3 - Commencement
Regulationsshall come into force on the date of their signature by the Minister.
Article 4 - Language
In accordance with Article 9 of the QFC Law, these
Regulationsare written in the English language and the English text thereof shall be the official original text. Any translation thereof into another language shall not be authoritative and in the event of any discrepancy between the English text of these Regulationsand any other version, the English text shall prevail.
Article 5 - Interpretation
Words and expressions used in these
Regulationsand interpretative provisions applying to these Regulationsare set out in Part 13.