Article 4.12 Application under section 176A(5) to disapply section 176A
(1)
An application under section 176A(5) of the Act must be accompanied by a witness statement of the education administrator.
(2)
The witness statement must—
(a)
state that the application arises in education administration proceedings;
(b)
contain a summary of the financial position of the further education body; and
(c)
contain the information substantiating the education administrator’s view that the cost of making a distribution to unsecured creditors would be disproportionate to the benefits.