SCHEDULES

F1SCHEDULE A1MORATORIUM WHERE DIRECTORS PROPOSE VOLUNTARY ARRANGEMENT

PART IINTRODUCTORY

Step-in rights

14.

(1)

For the purposes of paragraph 6 a project has step-in rights if a person who provides finance in connection with the project has a conditional entitlement under an agreement to—

(a)

assume sole or principal responsibility under an agreement for carrying out all or part of the project, or

(b)

make arrangements for carrying out all or part of the project.

(2)

In sub-paragraph (1) a reference to the provision of finance includes a reference to the provision of an indemnity.