Hire-purchase, conditional sale and chattel leasing agreements
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Memorandwm Esboniadol
34.—(1) Subject to paragraph (2), an owner of goods under a hire-purchase or chattel leasing agreement, or a seller of goods under a conditional sale agreement, is entitled to vote in respect of the amount of the debt due and payable to the owner by the SMCL on the date on which the SMCL entered SMCL administration.
(2) In calculating the amount of any debt for this purpose, no account is to be taken of any amount attributable to the exercise of any right under the relevant agreement so far as the right has become exercisable solely by virtue of the making of an SMCL administration application or any matter arising as a consequence, or of the SMCL entering SMCL administration.