[F1901BPower to exclude companies providing financial services, etcU.K.
(1)The Secretary of State may by regulations provide that this Part does not apply—
(a)where the company in respect of which a compromise or arrangement is proposed is an authorised person, or an authorised person of a specified description;
(b)where—
(i)a compromise or arrangement is proposed between a company, or a company of a specified description, and any creditors of the company, and
(ii)those creditors consist of or include creditors of a specified description.
(2)In this section—
“authorised person” has the same meaning as in the Financial Services and Markets Act 2000 (see section 31 of that Act);
“specified” means specified in the regulations.
(3)Regulations under this section are subject to affirmative resolution procedure.]
Textual Amendments
F1Pt. 26A inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 9 para. 1 (with ss. 2(2), 5(2))
Modifications etc. (not altering text)
C1Ss. 901A-901J applied (with modifications) by S.I. 2009/1804, reg. 45A (as inserted) (26.6.2020) by The Limited Liability Partnerships (Amendment etc.) Regulations 2020 (S.I. 2020/643), reg. 1(1), Sch. 3 para. 3)