Paragraph 4 Pensions Act 2004I1

Section 121 of the Pensions Act 2004^f1 (insolvency events etc) is amended as follows.

In subsection (2)(b), for “a meeting of the individual’s creditors should be summoned to” substitute “the individual’s creditors should”.

In subsection (3)(a), for “meetings of” to the end substitute “the proposal should be considered by a meeting of the company and by the company’s creditors;”.

For subsection (3)(f) substitute—

“(f)

a winding up becomes a creditors’ voluntary winding up under section 96 of that Act (conversion to creditors’ voluntary winding up);”.

In subsection (4)(c), for “meetings of” to the end substitute “the proposal should be considered by a meeting of the members of the partnership and by the partnership’s creditors;”.