SCHEDULES

SCHEDULE 2 Loans by the Corporation: Supplementary Provisions

Arrangements with respect to certain loans

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(1) If at any time the Corporation are satisfied with respect to any loan made by them which has fallen due for repayment that the amount of the loan cannot, without harmful consequences to the production of films, be recovered in accordance with its terms or by means of the remedies available, the Corporation may with the approval of the Secretary of State enter into any financial arrangements with respect to the loan which, in the judgment of the Corporation, are calculated to lead to the eventual recovery of the whole or part of the amount of the loan without such consequences.
(2) Any such arrangements may in particular provide—
(a) for the waiving by the Corporation of payment of interest, or
(b) for the acceptance by the Corporation of shares or debentures in any company in or towards repayment of the amount of the loan.
(3) In sub-paragraph (2)(b) “shares”, “debentures” and “company” have the same meaning as in the Companies Act 1985.
Words substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), s. 30, Sch. 2
1985 c. 6.

Act repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.IX.