(1)This section applies in relation to a voluntary arrangement under Part 1 of the Insolvency Act 1986 in relation to the company.
(2)The company must consult its tenants about the voluntary arrangement before the arrangement is approved under section 4 of that Act.
(3)Such a voluntary arrangement does not take effect under section 5 of the Insolvency Act 1986 unless the company has consulted its tenants as mentioned in subsection (2).
(4)The company must, as soon as reasonably practicable after the voluntary arrangement takes effect, give notice of the arrangement to the Regulator.
(5)The Regulator must issue guidance in relation to consultation for the purpose of subsection (2).
(6)A company must, in consulting tenants for that purpose, have regard to guidance issued under subsection (5).]
Textual Amendments
F1S. 103 substituted (8.3.2019) by Housing (Amendment) (Scotland) Act 2018 (asp 13), ss. 6(11), 11(2); S.S.I. 2018/253, reg. 2(2)