SCHEDULES
F3SCHEDULE A1 Moratorium where directors propose voluntary arrangement
F2Part V Consideration and implementation of voluntary arrangement
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)
Effectiveness of decisions
F136
1
Sub-paragraph (2) applies to references to one of the following decisions having effect, that is, a decision, under paragraph 31, 32 or 35, with respect to—
a
the approval of a proposed voluntary arrangement,
b
the extension (or further extension) of a moratorium,
c
the bringing of a moratorium to an end,
d
the establishment of a committee, or
e
the approval of the expected cost of a nominee’s intended actions.
2
The decision has effect if, in accordance with the rules—
a
it has been taken by both meetings summoned under paragraph 29, or
b
(subject to any order made under sub-paragraph (5)) it has been taken by the creditors’ meeting summoned under that paragraph.
3
If a decision taken by the creditors’ meeting under any of paragraphs 31, 32 or 35 with respect to any of the matters mentioned in sub-paragraph (1) differs from one so taken by the company meeting with respect to that matter, a member of the company may apply to the court.
4
An application under sub-paragraph (3) shall not be made after the end of the period of 28 days beginning with—
a
the day on which the decision was taken by the creditors’ meeting, or
b
where the decision of the company meeting was taken on a later day, that day.
5
On an application under sub-paragraph (3), the court may—
a
order the decision of the company meeting to have effect instead of the decision of the creditors’ meeting, or
b
make such other order as it thinks fit.
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)