SCHEDULES

SCHEDULE 9Arrangements and reconstructions for companies in financial difficulty

PART 2Consequential amendments

Housing (Scotland) Act 2010 (asp 17)

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1

Section 100A (restructuring by company: proposed restructuring) is amended as follows.

2

In subsection (1)—

a

for “This section applies” substitute “ Subsections (2) and (3) apply ”;

b

omit the “and” after paragraph (b);

c

for paragraph (c) substitute—

c

the restructuring will result in a tenant under a Scottish secure tenancy ceasing to be a tenant of the company in respect of which the order is made, and

d

the company is not being wound up and is not in administration.

3

In subsection (3), for “this section” substitute “ this subsection ”.

4

After subsection (3) insert—

4

Subsections (5) and (6) apply where—

a

a court order is made in respect of the company under section 901C(1) of the Companies Act 2006,

b

the meeting summoned by the court order is to agree a restructuring of a type mentioned in section 901J(1) of that Act,

c

the restructuring will result in a tenant under a Scottish secure tenancy ceasing to be a tenant of the company in respect of which the order is made, and

d

the company is not being wound up and is not in administration.

5

The company must comply with sections 115 to 120 (as applied by subsection (6)) in relation to the proposed restructuring.

6

Sections 115 to 120 apply in relation to a proposed restructuring to which this subsection applies as they apply in relation to a proposed disposal to which section 107(4) applies, subject to the modification that section 115A(2) has effect as if, for paragraph (b), there were substituted—

b

before the meeting summoned by the court order under section 901C of the Companies Act 2006 takes place,