[F1Extension while proposal for CVA pendingN.I.
13CE.—(1) Paragraph (2) applies where—
(a)at any time, the directors make a proposal under Part 2 (company voluntary arrangements), and
(b)apart from that paragraph, the moratorium would end at a time before the proposal is disposed of.
(2) The moratorium—
(a)does not end at the time mentioned in paragraph (1)(b), and
(b)instead, ends when the proposal is disposed of.
(3) For the purposes of this Article a proposal under Part 2 is “disposed of” when any of the following takes place—
(a)the company and its creditors both decide under Article 17 not to approve the voluntary arrangement contained in the proposal;
(b)the decisions taken by the company and its creditors under Article 17 differ, and—
(i)the period for making an application under Article 17A(3) expires and either no application has been made within that period or any application made within that period has been withdrawn, or
(ii)an application is made under Article 17A(3) and that application is disposed of, or it is withdrawn after the expiry of the period for making an application under Article 17A(3);
(c)the voluntary arrangement contained in the proposal takes effect under Article 18;
(d)the proposal is withdrawn.]