Section 66 Decisions of creditors’ meetingI1

Northern Ireland Not yet in force

(1)

Article 232 (decisions of creditors’ meeting) is amended as follows.

(2)

For paragraph (1) substitute—

“(1)

This Article applies where under Article 231 the debtor’s creditors are asked to decide whether to approve the proposed voluntary arrangement.”.

(3)

In paragraph (2)—

(a)

for “meeting” substitute “creditors”;

(b)

after “with” insert “or without”;

(c)

for “do so” substitute “approve it with modifications”.

(4)

In paragraphs (5), (6) and (7), for “meeting” substitute “creditors”.

(5)

Omit paragraph (8).

(6)

For the heading substitute “Approval of debtor’s proposal”.

Annotations

Commencement

I1: S. 66 not in operation at Royal Assent, see s. 120(02)