Transitional provision
This section has no associated Explanatory Memorandum
2. Rule 4.228 of the Insolvency Rules 1986(1) as it stands before the commencement date shall, in relation to any arrangements referred to in paragraph (1) of that Rule which have been completed before that date, continue to apply to a person who was the director or shadow director of the insolvent company the whole, or substantially the whole, of whose business is acquired.
(1)
S.I. 1986/1925. The Insolvency Rules 1986 have been amended on a number of occasions but none of those amendments are relevant for the purposes of these Rules.