1.1 Definitions for these Rules

In these Rules:

Insolvency Proceedings means any proceedings, whether in the Court or otherwise, under AIFC Insolvency Regulations, the AIFC Insolvency Rules or these Rules.

Officer, of a Company, includes any of the following in relation to the Company:

• (a) a Secretary;
• (b) a senior manager.

Preferential Debt, of a Company, means an amount that is a Preferential Debt of the Company under these Rules.

Relevant Date, for a Company, means:

• (a) if the Company is being wound up by the Court and the Company had not already passed a Resolution for Voluntary Winding Up—the earliest of the following dates:
• (i) if a Provisional Liquidator was appointed for the Company—the date the Provisional Liquidator was appointed (or, if more than 1 Provisional Liquidator has been appointed, the date the first Provisional Liquidator was appointed);
• (ii) if a Provisional Liquidator was not appointed for the Company—the date the winding up order is made; or
• (b) in any other case where the Company is being wound up—the date the Company passed the Resolution for Voluntary Winding Up; or
• (c) if the Company is in receivership—the date the Receiver was appointed.

Secured Party, in relation to a Security Interest, has the meaning given by Schedule 1 (Interpretation) of the AIFC Security Regulations.

Security Interest has the meaning given by Schedule 1 (Interpretation) of the AIFC Security Regulations.