Paragraph 6 I1

Modified Article 17 is amended as follows.

For paragraph (1) substitute—

“(1)

This Article applies where under Article 16—

(a)

a meeting of the members of the partnership is summoned to consider the proposed voluntary arrangement, and

(b)

the partnership’s creditors are asked to decide whether to approve the proposed voluntary arrangement.

(1A)

The members of the partnership and its creditors may approve the proposed voluntary arrangement with or without modifications.”.

In paragraph (3), for “A meeting so summoned shall not” substitute “Neither the members of the partnership nor its creditors may”.

In paragraph (4), for “A meeting so summoned shall not” substitute “Neither the members of the partnership nor its creditors may,”.

In paragraph (5), for “each of the meetings” substitute “the meeting of the members of the partnership and the qualifying decision procedure”.

In paragraph (6), for “either meeting” substitute “the meeting of the members of the partnership”.

After paragraph (6) insert—

“(6A)

After the partnership’s creditors have decided whether to approve the proposed voluntary arrangement, the person who sought the decision must—

(a)

report the creditors’ decision to the High Court, and

(b)

immediately after reporting to the Court, give notice of the creditors’ decision to everyone who was invited to consider the proposal or to whom notice of a decision procedure or meeting was given.”.

For the Article heading substitute “Decisions of the members of the partnership and its creditors.”.