SCHEDULES
SCHEDULE 4Conduct of education administration: companies
Specific modifications to Schedule B1 to the Insolvency Act 1986
I113
Paragraph 54 is to have effect as if the following were substituted for it—
54
1
The education administrator of a company may on one or more occasions revise the proposals included in the statement made under paragraph 49 in relation to the company.
2
If the education administrator thinks that a revision is substantial, the education administrator must send a copy of the revised proposals—
a
to the registrar of companies,
b
to the appropriate national authority,
c
to any director of children's services to whom the statement of proposals was sent under paragraph 49,
d
to every creditor of the company, other than an opted-out creditor, of whose claim and address the education administrator is aware, and
e
to every member of the company of whose address the education administrator is aware.
3
A copy sent in accordance with sub-paragraph (2) must be sent within the prescribed period.
4
The education administrator is to be taken to have complied with sub-paragraph (2)(d) if the education administrator publishes, in the prescribed manner, a notice undertaking to provide a copy of the revised proposals free of charge to any member of the company who applies in writing to a specified address.
5
An education administrator who fails without reasonable excuse to comply with this paragraph commits an offence.