Paragraph 5 Insolvent Partnerships Order 1994

(1)

Part 2 of Schedule 1 (modified provisions of Schedule A1 to the Insolvency Act 1986) is amended as follows.

(2)

In paragraph 37 as there modified—

(a)

in sub-paragraph (2)(a) for “creditors’ meeting” substitute “time the creditors decided to approve the voluntary arrangement”;

(b)

in sub-paragraph (2)(b)(i) for the words from “at that” to “it)” substitute “in the qualifying decision procedure by which the creditors’ decision to approve the voluntary arrangement was made”;

(c)

in sub-paragraph (2)(b)(ii), for “it” substitute “the procedure”; and

(d)

in sub-paragraph (5)(a)—

(i)

omit “of the meetings”; and

(ii)

after “30(3)” insert “and (4)”.

(3)

In paragraph 40(5) as there modified—

(a)

in paragraph (c), omit “creditors or”; and

(b)

after paragraph (c) insert—

“(ca)
require a decision of the partnership’s creditors to be sought (using a qualifying decision procedure) on such matters as the court may direct,”.