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SCHEDULES

SCHEDULE 3E+W SPECIAL ADMINISTRATION ORDERS

Modifications etc. (not altering text)

Part IE+W MODIFICATIONS OF THE 1986 ACT

Statement of proposalsE+W

9E+WIn section 23 of the 1986 Act (statement of proposals), as applied by this Part of this Schedule, for subsections (1) and (2) there shall be substituted the following subsections—

“(1)Where a special administration order has been made, the special administrator shall, within 3 months (or such longer period as the court may allow) after the making of the order, send a statement of his proposals for achieving the purposes of the order—

(a)to the Secretary of State and to the Director General of Water Services;

(b)so far as he is aware of their addresses, to all creditors of the company; and

(c)F1... to the registrar of companies;

and may from time to time revise those proposals.

(2)If at any time—

(a)the special administrator proposes to make revisions of the proposals for achieving the purposes of the special administration order; and

(b)those revisions appear to him to be substantial,

the special administrator shall, before making those revisions, send a statement of the proposed revisions to the Secretary of State, to the Director General of Water Services, (so far as he is aware of their addresses) to all creditors of the company andF2... to the registrar of companies.

(2A)Where the special administrator is required by subsection (1) or (2) to send any person a statement before the end of any period or before making any revision of any proposals, he shall also, before the end of that period or, as the case may be, before making those revisions either—

(a)send a copy of the statement (so far as he is aware of their addresses) to all members of the company; or

(b)publish in the prescribed manner a notice stating an address to which members should write for copies of the statement to be sent to them free of charge.”

Textual Amendments