“Section A3 (obtaining a moratorium by filing or lodging documents at court)() | |
subsection (1) | Omit paragraph (b) and the “and” preceding it. |
subsection (2) | For “directors” substitute “designated members”. |
Section A4 (obtaining a moratorium for company subject to winding-up petition) | |
subsection (2) | For “directors” substitute “designated members”. |
Section A5 (obtaining a moratorium for other overseas companies) | Omit. |
Section A6 (the relevant documents) | |
subsection (1) | In paragraph (a) for “directors wish” substitute “limited liability partnership wishes”. |
In paragraph (d) for “directors” substitute “designated members”. |
Section A7 (beginning of moratorium and appointment of monitor) | |
subsection (1) | Omit paragraph (c). |
Section A8 (obligations to notify where moratorium comes into force) | |
subsection (1) | For “directors” substitute “designated members”. |
subsection (4) | For “directors” substitute “designated members”, and for “director” substitute “designated member”. |
Section A10 (extension by directors without creditor consent) | |
subsection (1) | In the words before paragraph (a) for “directors” substitute “designated members”. |
In paragraph (a) for “directors wish” substitute “limited liability partnership wishes”. |
In paragraph (b) for “directors” substitute “designated members”. |
In paragraph (c) for “directors” substitute “designated members”. |
Section A11 (extension by directors with creditor consent) | |
subsection (1) | In the words before paragraph (a) for “directors” substitute “designated members”. |
In paragraph (a) for “directors wish” substitute “limited liability partnership wishes”. |
In paragraph (b) for “directors” substitute “designated members”. |
In paragraph (c) for “directors” substitute “designated members”. |
In paragraph (e) for “directors” substitute “designated members”. |
Section A13 (extension by court on application of directors) | |
subsection (1) | For “directors” substitute “designated members”. |
subsection (2) | In paragraph (a) for “directors” substitute “designated members”. |
In paragraph (b) for “directors” substitute “designated members”. |
In paragraph (c) for “directors” substitute “designated members”. |
Section A14 (extension while proposal for CVA pending) | |
subsection (1) | In paragraph (a) for “directors make” substitute “limited liability partnership makes”. |
subsection (3) | In paragraph (a) for “company and its creditors both” substitute “creditors of the limited liability partnership”. |
Omit paragraph (b). |
Section A17 (obligations to notify change in end of moratorium) | |
subsection (1) | For “directors of a company” substitute “designated members of a limited liability partnership”. |
In the table, for the heading of the third column substitute “the designated members must”. |
subsection (6) | For “directors” substitute “designated members”, and for “director” substitute “designated member”. |
Section A20 (restrictions on insolvency proceedings etc) | |
subsection (1) | In paragraph (a) for “directors” substitute “limited liability partnership”. |
Omit paragraphs (b) and (c). |
In paragraph (d) for “directors” substitute “limited liability partnership”. |
In paragraph (e) for “directors” substitute “limited liability partnership”. |
In paragraph (f) omit “or 22(1)”. |
In paragraph (g) omit “or 22(1)”. |
Section A24 (duty of directors to notify monitor of insolvency proceedings etc) | |
subsection (1) | For “directors of a company must notify the monitor before taking” substitute “designated members of a limited liability partnership must notify the monitor before the limited liability partnership takes”. |
In paragraph (c) substitute “22” for “22(2)”. |
subsection (2) | Omit. |
subsection (3) | Omit “or (2)”. |
subsection (4) | For subsection (4) substitute—
“(4) If the designated members fail to comply with subsection (1), any designated member who did not have a reasonable excuse for the failure commits an offence.”
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Section A31 (disposal of charged property free from charge) | |
subsection (7) | For “directors” substitute “designated members”. |
subsection (8) | For “directors” substitute “designated members”, and for “director” substitute “designated member”. |
Section A32 (disposal of hire-purchase property) | |
subsection (5) | For “directors” substitute “designated members”. |
subsection (6) | For “directors” substitute “designated members”, and for “director” substitute “designated member”. |
Section A36 (provision of information to monitor) | |
subsection (1) | For “directors” substitute “designated members”. |
subsection (2) | For “directors” substitute “designated members”. |
Section A38 (termination of moratorium by monitor) | |
subsection (1) | In paragraph (c) for “directors” substitute “designated members”. |
Section A39 (replacement of monitor or appointment of additional monitor) | |
subsection (3) | For “directors” substitute “designated members”. |
Section A42 (challenge to monitor’s actions) | |
subsection (2) | In paragraph (a) omit “, director”. |
Section A44 (challenge to directors’ actions) | |
subsection (1) | In the text before paragraph (a) omit “or member”.
In paragraph (a), omit “or members” in both places where it appears.
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Section A48 (prosecution of delinquent officers of company) | |
subsection (3) | Omit paragraph (c) and the “and” preceding it. |
Section A49 (regulated companies: modifications to this Part) | |
subsection (4) | For “directors” substitute “designated members”. |
subsection (5) | For “directors” substitute “designated members”, and for “director” substitute “designated member”.”. |