Insolvency Regulations ss.98-99: where inability to pay is proved to the Court, which date is the "onset of Insolvency"?

Sections 98 and 99 of the Insolvency Regulations measure look-back periods to "the onset of Insolvency". For Part 10, Schedule 3 defines "Insolvency" as being Unable to Pay its Debts, the approval of a Voluntary Arrangement or the appointment of a Receiver or Administrative Receiver. Where inability to pay is "proved to the satisfaction of the Court" (section 50(1)(c) and (2)), the text does not say whether the onset is the date the inability began or the date of the Court's finding; section 98(c) points to the order date for one case only. For comparison, the corresponding ADGM provision (Insolvency Regulations 2015, section 259(3)) defines the onset of insolvency in a separate subsection by reference to formal events.

Proposed correction

Please clarify, for the section 50(1)(c) and (2) cases, which date is the onset of Insolvency for sections 98 and 99.

Jurisdiction

Kazakhstan — AIFC

Act

AIFC Insolvency Regulations, V3

Place

Insolvency Regulations V3, s.98(a)

Record

Question of reading or data

Class

Question of reading or data

Where it arose

The text of the act

Arxo's conclusion

Confirmed

Official text

Unchanged at last check

Last checked

2026-10-24

Evidence

Contradiction within the text. Quotations are verbatim from the official material; translations are ours and marked.

at a time in the period of 2 years ending with the onset of Insolvency; or

at a time in the period of 6 months ending with the onset of Insolvency; or

if the order gives rise to the onset of Insolvency.

the security interest is created within 1 year before the onset of Insolvency

means that the Company is Unable to Pay its Debts; and

How to check it without Arxo's tools

1. Open V3_AIFC Insolvency Regulations with amendments as of 27 December 2024, commence on 1 January 2025 and find Insolvency Regulations V3, s.98(a); Insolvency Regulations V3, s.98(b); Insolvency Regulations V3, s.98(c); Insolvency Regulations V3, s.99(1)(b); Insolvency Regulations V3, Schedule 3, definition "Insolvency". Compare the text with the quotation above. A copy is kept in this register: 8c93c6f2c248880c-ireg_v3_14_01.01.2025.pdf (SHA-256 8c93c6f2c248880c488cbc24fd3462fa0b923eeaf240be33f71b6fb768a6efbe, copy of the official file).
2. The finding holds if the quoted passages read as shown and the comparison gives the result stated at the top of this page. If it does not, write to us with the record ID.

How this finding was made

AI agents read the official texts, turned the provisions concerned into executable rules and ran the comparison; they also drafted this record. A person at Arxo checked the finding and approved the report before it was sent (2026-10-27).

Responsible institutions

• AIFC Authority — body that prepares AIFC acts and publishes them on the AIFC website

Reported to

Responses

No response recorded.

Documents and reproduction

• V3_AIFC Insolvency Regulations with amendments as of 27 December 2024, commence on 1 January 2025

History

1. 2026-10-24Confirmed by Arxo
2. 2026-10-27Entered in the register
3. 2026-10-27Reported to AIFC Authority (e-mail)

Cite this record

Arxo Law, Arxo Findings Register, ARXO-2026-0184, https://arxo.io/findings/ARXO-2026-0184/ (status as of 2026-10-24). Data: ARXO-2026-0184.json.