154Proposals: effectE+W
(1)The following are obliged to implement agreed proposals—
(a)the regulator,
(b)the registered provider,
(c)its creditors, and
(d)any liquidator, administrator, administrative receiver or receiver appointed in respect of the registered provider or any of its land.
(2)The following shall co-operate with implementation of agreed proposals—
(a)in the case of a charitable trust, its trustees,
(b)in the case of [F1a registered society], its committee members, and
(c)in the case of a registered company, its directors.
(3)Subsection (2) does not require or permit a breach of a fiduciary or other duty.
Textual Amendments
F1Words in Act substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 122 (with Sch. 5)
Commencement Information
I1S. 154 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)