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(a) a proposal is made by the directors of a company and before the appointed day the intended nominee has endorsed a copy of the written notice of the proposal under Rule 1.4(3) of the Insolvency Rules 1986[3], or, in Scotland, under Rule 1.4(3) of the Insolvency (Scotland) Rules 1986[4];

(b) a proposal is made by the liquidator or the administrator (acting as nominee) and before the appointed day the liquidator or administrator (as the case may be) has sent out a notice summoning the meetings under section 3 of the Act as required by Rule 1.11 of the Insolvency Rules 1986, or, in Scotland, by Rule 1.11 of the Insolvency (Scotland) Rules 1986; or

(c) a proposal is made by the liquidator or the administrator of a company (not acting as the nominee) and before the appointed day the intended nominee has endorsed a copy of the written notice of the proposal under Rule 1.12(2) of the Insolvency Rules 1986, or, in Scotland, Rule 1.12(2) of the Insolvency (Scotland) Rules 1986,

the amendments made by these Regulations shall not apply and the 1990 Regulations as they stand immediately before the coming into force of these Regulations shall continue to apply.

     3. In regulation 13 of the 1990 Regulations, after paragraph (d) there is inserted - 

" or
(e) a nominee in relation to a voluntary arrangement under Part I or Part VIII of the Act who subsequently becomes supervisor of the arrangement;".

     4. In regulation 15A of the 1990 Regulations, after paragraph (2) there is inserted - 

    " (3) In this regulation a reference to an insolvency practitioner obtaining his release or discharge includes any case where the insolvency practitioner - 


(a) has acted as nominee in relation to a voluntary arrangement under Part I or Part VIII of the Act; and

(b) is replaced by another insolvency practitioner (whether acting as nominee or supervisor in relation to the voluntary arrangement in question).".

     5. In Part II of Schedule 2 to the 1990 Regulations - 

(a) after paragraph 1(a)(x) there is inserted - 


" (xi) a nominee in relation to a voluntary arrangement proposed under Parts I or VIII of the Act;"; and



(b) for the words "and (x)" in paragraph 2(a) there is substituted ", (x) and (xi)".

Melanie Johnson,
Parliamentary Under-Secretary of State for Competition, Consumers and Markets, Department of Trade and Industry

29th October 2002

[2] S.I. 1990/439 as amended by S.I. 1993/221.back

[3] S.I. 1986/1925.back

[4] S.I. 1986/1915.back

  Prepared 12 November 2002