SCHEDULES

SCHEDULE 2 Company voluntary arrangements

Part I Amendments of the Insolvency Act 1986

9

In section 7 (implementation of proposal)—

(a)

in subsection (1), for the words following “voluntary arrangement” there is substituted “ has effect under section 4A ”,

(b)

in subsection (2), for paragraph (a) there is substituted—

“(a)

on the nominee by virtue of the approval given at one or both of the meetings summoned under section 3”,

(c)

in subsection (5), for “in relation to the company” there is substituted “ or authorised to act as supervisor, in relation to the voluntary arrangement ”.