THE FIRST GROUP OF PARTS

PART 2 ADMINISTRATION PROCEDURE

CHAPTER 3 CREDITORS' AND COMPANY MEETINGS

SECTION A: CREDITORS' MEETINGS

2.27 Hire-purchase, conditional sale and chattel leasing agreements
1 Subject as follows, an owner of goods under a hire-purchase or chattel leasing agreement, or a seller of goods under a conditional sale agreement, is entitled to vote in respect of the amount of the debt due and payable to him by the company as at the date of the administration order.
2 In calculating the amount of any debt for this purpose, no account shall be taken of any amount attributable to the exercise of any right under the relevant agreement, so far as the right has become exercisable solely by virtue of the presentation of the petition for an administration order or any matter arising in consequence of that, or of the making of the order.