SCHEDULES

SCHEDULE 1LIMITED LIABILITY PARTNERSHIPS

PART 2Amendments to the Limited Liability Partnerships Regulations 2001, England and Wales

Schedule 312

For the item relating to new subsection (5A) of section 4 substitute—

Provisions

Section 4 (decisions of meetings)

Modifications

new subsection (5A)

Insert a new subsection (5A) as follows—

5A

 If modifications to the proposal are proposed by creditors, the nominee under section 1(2) must, before the date on which the creditors are to be asked whether to approve the proposed voluntary arrangement, ascertain from the limited liability partnership whether or not it agrees to the proposed modifications; and if at that date the limited liability partnership has failed to respond to a proposed modification, it shall be presumed not to have agreed to it.