Voluntary arrangements
4 Qualification or authorisation of nominees and supervisors.
1
Part XIII of the M1Insolvency Act 1986 (insolvency practitioners and their qualification) is amended as follows.
2
In section 388 (meaning of “act as insolvency practitioner”)—
a
for subsection (1)(b) there is substituted—
b
where a voluntary arrangement in relation to the company is proposed or approved under Part I, as nominee or supervisor
b
for subsection (2)(c) there is substituted—
c
where a voluntary arrangement in relation to the individual is proposed or approved under Part VIII, as nominee or supervisor
and
c
after subsection (2A) there is inserted—
2B
In relation to a voluntary arrangement proposed under Part I or VIII, a person acts as nominee if he performs any of the functions conferred on nominees under the Part in question.
F13
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F24
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