The Insolvency (Northern Ireland) Order 2002

This section has no associated Explanatory Memorandum

10.  In Article 234 (effect of approval), for paragraph (2)(b) substitute—

(b)binds every person who in accordance with the rules—

(i)was entitled to vote at the meeting (whether or not he was present or represented at it), or

(ii)would have been so entitled if he had had notice of it,as if he were a party to the arrangement.

(2A) If—

(a)when the arrangement ceases to have effect any amount payable under the arrangement to a person bound by virtue of paragraph (2)(b)(ii) has not been paid, and

(b)the arrangement did not come to an end prematurely,

the debtor shall at that time become liable to pay to that person the amount payable under the arrangement..