SCHEDULE 1AMENDMENTS COMING INTO FORCE ON 6TH APRIL 2008

PART 2OTHER AMENDMENTS

Insolvency Act 1986 (c.45)99

1

Paragraph 3 of Schedule A1 to the Insolvency Act 1986 M1 (moratorium where directors propose voluntary arrangement: qualifying conditions) is amended as follows.

2

In sub-paragraph (2) for “section 247(3) of the Companies Act 1985” substitute “ section 382(3) of the Companies Act 2006 ”.

3

In sub-paragraph (3) for “Subsections (4), (5) and (6) of section 247” substitute “ Section 382(4), (5) and (6) ”.

4

In sub-paragraph (4)—

a

for “holding company” substitute “ parent company ”, and

b

for “in respect of” substitute “ in relation to ”.

5

For sub-paragraph (5) substitute—

5

For the purposes of sub-paragraph (4)—

a

“group” has the same meaning as in Part 15 of the Companies Act 2006 (see section 474(1) of that Act); and

b

a group qualifies as small in relation to a financial year if it so qualifies under section 383(2) to (7) of that Act, and qualifies as medium-sized in relation to a financial year if it so qualifies under section 466(2) to (7) of that Act.

6

The amendments in this paragraph apply only in relation to periods, or parts of periods, falling on or after 6th April 2008.