Section 68 Effect of approvalI1

Northern Ireland Not yet in force

(1)

Article 234 (effect of approval) is amended as follows.

(2)

In paragraph (1), for “the meeting summoned under Article 231 approves” substitute “pursuant to Article 231 the debtor’s creditors decide to approve”.

(3)

In paragraph (2)—

(a)

in sub-paragraph (a), for “at the meeting” substitute “at the time the creditors decided to approve the proposal”;

(b)

in sub-paragraph (b)(i), for the words from “at the meeting” to “represented at it)” substitute “in the creditors’ decision procedure by which the decision to approve the proposal was made”;

(c)

in sub-paragraph (b)(ii), for “it” substitute “that procedure”.

(4)

In paragraph (4)—

(a)

for “preceding the expiration of the period of 28 days from” substitute “before the end of the period of 28 days beginning with”;

(b)

for “meeting” substitute “decision”.

Annotations

Commencement

I1: S. 68 not in operation at Royal Assent, see s. 120(02)