29 January 2016
Subsection (1) repeals Chapter 1 of Part 8 of the Insolvency Order which dealt with deeds of arrangement.
Subsection (2) enables the Department to make orders amending statutory provisions, including repealing and revoking them, to take account of the repeal of Chapter 1 of Part 8 of the Insolvency Order.
Subsections (3) and (4) provide for orders under subsection (2) to be subject to negative resolution unless they contain provision amending or repealing an Act of Parliament or Northern Ireland legislation, in which case they must be laid and approved by resolution of the Assembly before being made.