Amendment of Part 15 of the Insolvency Rules
This section has no associated Explanatory Memorandum
76. In rule 15.32 (calculation of voting rights: special cases), before paragraph (1) insert—
“(A1) In a decision procedure in respect of a moratorium under Part A1 of the Act, a creditor under a hire-purchase agreement is entitled to vote in respect of the debt due and payable by the company at the decision date.
(B1) In calculating the amount of any debt for the purpose of paragraph (A1) no account is to be taken of any amount attributable to the exercise of any right under the relevant agreement so far as the right has become exercisable solely by virtue of a moratorium for the company coming into force.”