- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
22. Paragraph 54 (revision of administrator’s proposals) has effect as if—
(a)in sub-paragraph (1) the reference to an initial creditors’ meeting, and in sub-paragraphs (2) and (5) the reference to a creditors’ meeting, included a reference to a members’ meeting;
(b)after sub-paragraph (1) there were inserted—
“(1A) Where a revision is proposed in the case of a relevant society, sub-paragraphs (3A) to (3C) of paragraph 49 apply in relation to the revision.”;
(c)sub-paragraph (2) required the administrator—
(i)to summon a members’ meeting (as well as a creditors’ meeting); and
(ii)to send a statement of the proposed revision in the prescribed form (as well as to each creditor) to every member of the society;
(d)sub-paragraphs (2)(c) and (3) were omitted; and
(e)sub-paragraph (6) required the administrator to report any decision taken at a creditors’ meeting and any decision taken at a members’ meeting as soon as is reasonably practicable after the conclusion of both meetings.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: