SCHEDULES

F3SCHEDULE A1 Moratorium where directors propose voluntary arrangement

Annotations:
Amendments (Textual)
F3

Sch. A1 inserted (11.5.2001 so far as is necessary to give effect to Sch. A1 paras. 5, 45(1)-(3)(5) and 1.1.2003 in so far as not already in force) by 2000 c. 39, s. 1, Sch. 1 para. 4; S.I. 2001/1751, art. 2; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)

F2Part I Introductory

Annotations:
Amendments (Textual)
F2

Sch. A1 inserted (11.5.2001 so far as is necessary to give effect to Sch. A1 paras. 5, 45(1)-(3)(5) and 1.1.2003 in so far as not already in force) by 2000 c. 39, s. 1, Sch. 1 para. 4; S.I. 2001/1751, art. 2; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)

Eligible companies

F14DInterpretation of capital market arrangement

1

For the purposes of paragraph 4A an arrangement is a capital market arrangement if—

a

it involves a grant of security to a person holding it as trustee for a person who holds a capital market investment issued by a party to the arrangement, or

b

at least one party guarantees the performance of obligations of another party, or

c

at least one party provides security in respect of the performance of obligations of another party, or

d

the arrangement involves an investment of a kind described in articles 83 to 85 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) (options, futures and contracts for differences).

2

For the purposes of sub-paragraph (1)—

a

a reference to holding as trustee includes a reference to holding as nominee or agent,

b

a reference to holding for a person who holds a capital market investment includes a reference to holding for a number of persons at least one of whom holds a capital market investment, and

c

a person holds a capital market investment if he has a legal or beneficial interest in it.

3

In paragraph 4A, 4C, 4J and this paragraph—

  • “agreement” includes an agreement or undertaking effected by—

    1. a

      contract,

    2. b

      deed, or

    3. c

      any other instrument intended to have effect in accordance with the law of England and Wales, Scotland or another jurisdiction, and

  • “party” to an arrangement includes a party to an agreement which—

    1. a

      forms part of the arrangement,

    2. b

      provides for the raising of finance as part of the arrangement, or

    3. c

      is necessary for the purposes of implementing the arrangement.