Chapter 1 of Part 8 of the Insolvency Order (deeds of arrangement) is repealed.

The Department may by order make such amendments (including repeals and revocations) to any statutory provision as it considers appropriate in consequence of this section.

No order may be made under subsection (2) containing provision which amends or repeals a provision of an Act of Parliament or Northern Ireland legislation unless a draft of the order has been laid before, and approved by resolution of, the Assembly.

Any other orders under subsection (2) are subject to negative resolution.