SCHEDULES
F1C2C3C4SCHEDULE B1 ADMINISTRATION
Sch. B1 applied in part (with modifications) (5.10.2004) by Energy Act 2004 (c. 20), ss. 159(1), 198, Sch. 20 Pts. 1-3; S.I. 2004/2575, art. 2(1), Sch. 1
Sch. B1 applied (with modifications) (1.7. 2005) by S.I. 1994/2421, art. 6(1), Sch. 2 (as amended (1.7.2005) by S.I. 2005/1516, arts. 3, 7, Sch. 1 (with art. 2))
Sch. B1: specified provisions applied (with modifications) (1.10.2011) by Postal Services Act 2011 (c. 5), ss. 73, 93(2)(3), {Sch. 10 Pts. 1, 2}; S.I. 2011/2329, art. 3 (with arts. 4, 5)
PROCESS OF ADMINISTRATION
C154Revision of administrator’s proposals
1
This paragraph applies where—
a
an administrator’s proposals have been approved (with or without modification) at an initial creditors’ meeting,
b
the administrator proposes a revision to the proposals, and
c
the administrator thinks that the proposed revision is substantial.
2
The administrator shall—
a
summon a creditors’ meeting,
b
send a statement in the prescribed form of the proposed revision with the notice of the meeting sent to each creditor,
c
send a copy of the statement, within the prescribed period, to each member of the company of whose address he is aware, and
d
present a copy of the statement to the meeting.
3
The administrator shall be taken to have complied with sub-paragraph (2)(c) if he publishes a notice undertaking to provide a copy of the statement free of charge to any member of the company who applies in writing to a specified address.
4
A notice under sub-paragraph (3) must be published—
a
in the prescribed manner, and
b
within the prescribed period.
5
A creditors’ meeting to which a proposed revision is presented shall consider it and may—
a
approve it without modification, or
b
approve it with modification to which the administrator consents.
6
After the conclusion of a creditors’ meeting the administrator shall as soon as is reasonably practicable report any decision taken to—
a
the court,
b
the registrar of companies, and
c
such other persons as may be prescribed.
7
An administrator commits an offence if he fails without reasonable excuse to comply with sub-paragraph (6).
Sch. B1 inserted (15.9.2003) by 2002 c. 40, ss. 248(2), 279, Sch. 16 (with s. 249(1)-(3)(6)); S.I. 2003/2093, art. 2(1), Sch. 1 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))