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(This note is not part of the Order)
Part II of the Insolvency (Northern Ireland) Order 1989 provides a regime for a company to enter into a voluntary arrangement with its creditors. Part III of the same Order provides for a regime for the administration of companies.
This Order applies both regimes (together with related provisions in the Companies Act 2006 allowing for a Court to approve certain arrangements or compromises) with modifications to the Presbyterian Mutual Society Limited which is incorporated under the Industrial and Provident Societies Act (Northern Ireland) 1969.
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