Paragraph 46 Modifications to the items relating to Schedule A1 of the Insolvency Act 1986

For the items relating to sub-paragraphs (1) and (7) of paragraph 31 substitute—

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Provisions

Paragraph 31
Modifications

sub-paragraph (1)(a) Omit.
sub-paragraph (1A) For “The company and its creditors” substitute “The creditors of the limited liability partnership”.
sub-paragraph (4) For “Neither the company nor its creditors may” substitute “The creditors of the limited liability partnership may not”.
sub-paragraph (5) For “neither the company nor its creditors may” substitute “the creditors of the limited liability partnership may not”.
sub-paragraph (7)
For sub-paragraph (7) substitute the following—

“(7)

The designated members of the limited liability partnership may, before the beginning of the relevant period, give notice to the nominee of any modifications of the proposal for which the designated members intend to seek the approval of the creditors.”.

sub-paragraph (7A)(a) Omit.

”

Provisions Paragraph 31	Modifications
sub-paragraph (1)(a)	Omit.
sub-paragraph (1A)	For “The company and its creditors” substitute “The creditors of the limited liability partnership”.
sub-paragraph (4)	For “Neither the company nor its creditors may” substitute “The creditors of the limited liability partnership may not”.
sub-paragraph (5)	For “neither the company nor its creditors may” substitute “the creditors of the limited liability partnership may not”.
sub-paragraph (7)	For sub-paragraph (7) substitute the following— “(7) The designated members of the limited liability partnership may, before the beginning of the relevant period, give notice to the nominee of any modifications of the proposal for which the designated members intend to seek the approval of the creditors.”.
sub-paragraph (7A)(a)	Omit.