SCHEDULE 2TRANSITIONAL AND SAVINGS PROVISIONS

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3.—(1) Rule 1.41(4) does not apply where the relevant proceedings commenced before the commencement date.

(2) In this paragraph relevant proceedings are commenced on—

(a)the delivery of a proposal for a voluntary arrangement to the intended nominee;

(b)the appointment of an administrator under paragraph 14 or 22 of Schedule B1; or

(c)the making of an administration order.