SCHEDULE 1Modified application of Parts 1 and 2 of the Insolvency Act 1986 to relevant societies
PART 2Modified application of Part 1 of the Insolvency Act 1986 to relevant societies (further modifications)
Schedule A1 (moratorium where directors propose voluntary arrangement)8
Schedule A1 to the 1986 Act has effect as if—
a
in paragraph 2 (companies eligible for a moratorium) in sub-paragraph (1) the words “if it meets the requirements of paragraph 3,” were omitted;
b
paragraph 3 (requirements for eligibility for a moratorium) were omitted; and
c
paragraph 5 (power to modify qualifications for eligibility) were omitted.