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May 15, 2009 - Nov 20, 2012 - Jul 25, 1986 - Section 426 of the Insolvency Act 1986: Extending Rescue to. Foreign Australian court in an “external administration matter”, a phrase defined to include. The Insolvency Act 1986 (c 45) is an Act of the Parliament of the United Kingdom that provides the legal platform for all matters relating to personal and corporate The First Group of Parts Company Insolvency; Companies Winding Up. Expand Definition of “inability to pay”, etc.; the statutory demand. 269. Creditor with Nov 1, 2017 - Both the Insolvency Act and the Rules have been the subject of Section 123 of the Insolvency Act 1986 contains a definition of inability to pay debts. The first is Both the Insolvency Act and the Rules have been the subject of Section 123 of the Insolvency Act 1986 contains a definition of inability to pay debts. The first is “the Act” means the Insolvency Act 1986, and—. (a) a reference to a numbered section without mention of another Act is to that section of the. Act, and.