Article 5 Amendments to Part 1 of the principal Rules

(1)

Subject to paragraph (2), Part 1 of the principal Rules shall have effect subject to the amendments set out in Part 1 of Schedule 1 to these Rules.

(2)

The amendments to Part 1 of the principal Rules set out in Part 1 of Schedule 1 to these Rules shall not apply in relation to a voluntary arrangement under Part II of the Order where –

(a)

a proposal is made by the directors of a company and, before the commencement date, the intended nominee has endorsed a copy of the written notice of the proposal under Rule 1.04(3);

(b)

a proposal is made by the liquidator or the administrator (acting as the nominee) and, before the commencement date, the liquidator or administrator (as the case may be) has sent out a notice summoning the meetings under Article 16 of the Order as required by Rule 1.11; or

(c)

a proposal is made by the liquidator or the administrator of a company (not acting as the nominee) and, before the commencement date, the intended nominee has endorsed a copy of the written notice of the proposal under Rule 1.12(2);

and, in such cases, Part 1 of the principal Rules as it stood before the commencement date shall continue to apply.