Prospective
Scope of this Part; interpretationE+W
1.1.—(1) The Rules in this Part apply where, pursuant to Part I of the Act, it is intended to make, and there is made, a proposal to a company and its creditors for a voluntary arrangement, that is to say, a composition in satisfaction of its debts or a scheme of arrangement of its affairs.
(2) In this Part—
(a)Chapter 2 applies, where the proposal for a voluntary arrangement is made by the directors of the company, and neither is the company in liquidation, nor is an administration order (under Part II of the Act) in force in relation to it;
(b)Chapter 3 applies where the company is in liquidation or an administration order is in force, and the proposal is made by the liquidator or (as the case may be) the administrator, he in either case being the nominee for the purposes of the proposal;
(c)Chapter 4 applies in the same case as Chapter 3, but where the nominee is an insolvency practitioner other than the liquidator or the administrator; and
(d)Chapters 5 and 6 apply in all the three cases mentioned in sub-paragraphs (a) to (c) above.
(3)
Commencement Information
I1Rule 1.1 in force at 29.12.1986, see rule 0.1