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Explanatory Memorandum to Insolvency (Northern Ireland) Order 2002

Schedule 2: Company voluntary arrangements

Part I – Amendments of the Insolvency (Northern Ireland) Order 1989

This Schedule makes amendments to the provisions of the Insolvency (Northern Ireland) Order 1989 relating to company voluntary arrangements where there is no moratorium.

Part II: Amendments of the Building Societies Act 1986

Paragraphs 13 and 14 of Schedule 2: Part II of the schedule deal with the interaction of the company voluntary arrangement procedure with the Building Societies Act 1986. Principally it prevents a building society from using the company voluntary arrangement moratorium procedure.

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