Part 7Registered social landlords: insolvency etc.
Making proposals
82Proposals: agreement
1
Secured creditors to whom proposals are submitted under section 81 may—
a
agree to the proposals (with or without modification), or
b
reject the proposals.
2
Proposals agreed with modifications have effect only if the Regulator agrees to the modifications.
3
The Regulator must give notice of agreed proposals to—
a
the registered social landlord and its officers,
b
all of the registered social landlord’s secured creditors whom the Regulator can locate after making reasonable enquiries,
c
any liquidator, administrative receiver, receiver or administrator appointed in respect of the registered social landlord or its land,
d
where the registered social landlord is a registered society, the Financial Services Authority, and
e
where the registered social landlord is a charity, the Office of the Scottish Charity Regulator.
4
The Regulator must also make arrangements for bringing agreed proposals to the attention of the registered social landlord’s members, tenants and unsecured creditors.