C6C4C8C2C1C3C5Part 26F1Arrangements and reconstructions: general

Annotations:
Amendments (Textual)
Modifications etc. (not altering text)
C6

Pt. 26 power to apply (with modifications) conferred (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 118(1)(2)154 (with Sch. 5)

C4

Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))

Application of this Part

C7895Application of this Part

1

The provisions of this Part apply where a compromise or arrangement is proposed between a company and—

a

its creditors, or any class of them, or

b

its members, or any class of them.

2

In this Part—

  • “arrangement” includes a reorganisation of the company's share capital by the consolidation of shares of different classes or by the division of shares into shares of different classes, or by both of those methods; and

  • “company”—

    1. a

      in section 900 (powers of court to facilitate reconstruction or amalgamation) means a company within the meaning of this Act, and

    2. b

      elsewhere in this Part means any company liable to be wound up under the Insolvency Act 1986 (c. 45) or the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)).

3

The provisions of this Part have effect subject to Part 27 (mergers and divisions of public companies) where that Part applies (see sections 902 and 903).