The Small Business, Enterprise and Employment Act 2015 (Consequential Amendments, Savings and Transitional Provisions) Regulations 2018

The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014

15.—(1) The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014(1) is amended as follows.

(2) In article 1(2) (interpretation) after the definition of “the 2014 Act” insert—

““the 2015 Act” means the Small Business, Enterprise and Employment Act 2015;”.

(3) In Schedule 1 (modified application of Parts 1 and 2 of the Insolvency Act 1986 to relevant societies)—

(a) in Part 2 (modified application of Part 1 of that Act) after paragraph 3 insert—

“3A.   Sections 2 to 6 and 7 of, and Schedule A1 to, the 1986 Act have effect without the amendments of those provisions made by paragraphs 2 to 9 of Schedule 9 to the 2015 Act (further amendments relating to the abolition of requirements to hold meetings: company voluntary arrangements).”; and

(b) in Part 3 (modified application of Part 2 of that Act) after paragraph 10 insert—

“Creditors’ meetings and creditors’ notices

10A.   Schedule B1 to the 1986 Act has effect without the amendments made by paragraph 10 of Schedule 9 to the 2015 Act (further amendments relating to the abolition of requirements to hold meetings; opted-out creditors: administration).”.

(4) In Schedule 3 (modified application of other provisions of the Insolvency Act 1986)—

(a) after paragraph 5B(2) insert—

“Creditors’ meetings

5C.   Part 6 of the 1986 Act and sections 387, 433 and 434B have effect without the amendments of those provisions made by —

(a) section 122 of the 2015 Act (abolition of requirements to hold meetings: company insolvency); and

(b) paragraphs 54 to 57 of Schedule 9 to that Act (further amendments relating to section 122).

Creditors’ notices

5D.   Parts 6 and 7 of the 1986 Act have effect without the amendments of those Parts made by section 124 of the 2015 Act (ability for creditors to opt not to receive certain notices: company insolvency).”; and

(b) at the end insert—

“8.   Schedule 10 to the 1986 Act also has effect without the amendments made by paragraph 11 of Schedule 9 to the 2015 Act.”.

(1)

S.I. 2014/229, as amended by S.I. 2014/1815, 2014/1822 and 2017/400, was originally cited as the Industrial and Provident Societies and Credit Unions (Arrangements, Reconstructions and Administration Order 2014, and was given a new citation by S.I. 2014/1815.

(2)

Paragraph 5B was inserted by S.I. 2017/400.