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The Financial Markets and Insolvency Regulations 1991
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- UK Statutory Instruments
- 1991 No. 880
- PART III
- Regulation 4
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Changes and effects yet to be applied to Regulation 4:
- Regulations amendment to earlier affecting provision S.I. 2021/716, reg. 5 by S.I. 2023/1399 reg. 4
- Regulations applied (with modifications) by S.I. 2009/317 art. 3 Sch.
- Regulations applied (with modifications) by S.I. 2011/245 Sch. 6 Pt. 1
- Regulations applied (with modifications) by S.I. 2021/716 Sch. 3 para. 2 3
- reg. 2(1A) words substituted by S.I. 2017/1064 Sch. para. 20(2)
- reg. 11(aa) inserted by S.I. 2013/504 reg. 30(3)(a)
- reg. 11(aa) words inserted by S.I. 2017/1064 Sch. para. 20(5)(a)(i)
- reg. 11(aa) words substituted by S.I. 2017/1064 Sch. para. 20(5)(a)(ii)
- reg. 11A inserted by S.I. 2017/1064 Sch. para. 20(6)
- reg. 11A(2) word substituted by S.I. 2019/341 reg. 11(3)(a)
- reg. 11A(2)(a) words omitted by S.I. 2019/341 reg. 11(3)(b)
- reg. 11A(2)(b) words omitted by S.I. 2019/341 reg. 11(3)(b)
- reg. 14(1A) inserted by S.I. 2003/2096 Sch. para. 48(c)
- reg. 15(1A) inserted by S.I. 2003/2096 Sch. para. 49(b)
- reg. 16(1A) words inserted by S.I. 2017/1064 Sch. para. 20(7)(b)
- reg. 16(1B) words inserted by S.I. 2017/1064 Sch. para. 20(7)(c)
- reg. 16(1C) substituted by S.I. 2017/1064 Sch. para. 20(7)(e)
- reg. 16(1D) substituted by S.I. 2013/472 Sch. 2 para. 9
- reg. 16(1BA) inserted by S.I. 2017/1064 Sch. para. 20(7)(d)
- reg. 16(2)(a) word omitted by S.I. 2017/1064 Sch. para. 20(7)(f)(i)
- reg. 16(2)(b) and word inserted by S.I. 2017/1064 Sch. para. 20(7)(f)(ii)
- reg. 16(3)(4) inserted by S.I. 2001/3649 art. 415(3)
Changes and effects yet to be applied to the whole Instrument associated Parts and Chapters:
Whole provisions yet to be inserted into this Instrument (including any effects on those provisions):
- reg. 2(1A) words substituted by S.I. 2017/1064 Sch. para. 20(2)
- reg. 11(aa) inserted by S.I. 2013/504 reg. 30(3)(a)
- reg. 11(aa) words inserted by S.I. 2017/1064 Sch. para. 20(5)(a)(i)
- reg. 11(aa) words substituted by S.I. 2017/1064 Sch. para. 20(5)(a)(ii)
- reg. 11A inserted by S.I. 2017/1064 Sch. para. 20(6)
- reg. 11A(2) word substituted by S.I. 2019/341 reg. 11(3)(a)
- reg. 11A(2)(a) words omitted by S.I. 2019/341 reg. 11(3)(b)
- reg. 11A(2)(b) words omitted by S.I. 2019/341 reg. 11(3)(b)
- reg. 14(1A) inserted by S.I. 2003/2096 Sch. para. 48(c)
- reg. 15(1A) inserted by S.I. 2003/2096 Sch. para. 49(b)
- reg. 16(1A) words inserted by S.I. 2017/1064 Sch. para. 20(7)(b)
- reg. 16(1B) words inserted by S.I. 2017/1064 Sch. para. 20(7)(c)
- reg. 16(1C) substituted by S.I. 2017/1064 Sch. para. 20(7)(e)
- reg. 16(1D) substituted by S.I. 2013/472 Sch. 2 para. 9
- reg. 16(1BA) inserted by S.I. 2017/1064 Sch. para. 20(7)(d)
- reg. 16(2)(a) word omitted by S.I. 2017/1064 Sch. para. 20(7)(f)(i)
- reg. 16(2)(b) and word inserted by S.I. 2017/1064 Sch. para. 20(7)(f)(ii)
- reg. 16(3)(4) inserted by S.I. 2001/3649 art. 415(3)
Voting at meetings of creditorsE+W+S
4.—(1) Section 159 of the Act (proceedings of exchange or clearing housetake precedence over insolvency procedures) shall be amended as follows.
(2) After subsection (4) there shall be inserted the following newsubsection—
“(4A) However, prior to the completion of default proceedings—
(a)where it appears to the chairman of the meeting of creditors that asum will be certified under section 162(1) to be payable, subsection (4)shall not prevent any proof or claim including or consisting of anestimate of that sum which has been lodged or, in Scotland, submitted,from being admitted or, in Scotland, accepted, for the purpose only ofdetermining the entitlement of a creditor to vote at a meeting ofcreditors; and
(b)a creditor whose claim or proof has been lodged and admitted or, inScotland, submitted and accepted, for the purpose of determining theentitlement of a creditor to vote at a meeting of creditors and whichhas not been subsequently wholly withdrawn, disallowed or rejected, iseligible as a creditor to be a member of a liquidation committee or, inbankruptcy proceedings in England and Wales, a creditors' committee.”.
(3) In subsection (5) for the words“subsection (4)” there shall be substituted the words“subsections (4) and (4A)”.
Commencement Information
I1Reg. 4 in force at 25.4.1991, see reg. 1
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