Source: http://www.legislation.gov.uk/ukpga/1986/45/part/VIII
Timestamp: 2018-10-21 02:56:02
Document Index: 719475823

Matched Legal Cases: ['art. 5', 'art. 2', 'art. 3', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 3', 'art. 2', 'art. 2', 'art. 8', 'art. 8', 'art. 2', 'art. 8', 'art. 3', 'art. 2', 'art. 2', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 8', 'art. 8', 'art. 3', 'art. 2', 'art. 3', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 3', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 3', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 9', 'art. 2', 'art. 2', 'art. 9', 'art. 2', 'art. 2', 'art. 9']

s. 258 heading substituted by 2015 c. 26 Sch. 9 para. 65(6)
s. 262 heading word substituted by 2015 c. 26 Sch. 9 para. 69(11)
s. 257 heading substituted by 2015 c. 26 Sch. 9 para. 64(4)
s. 257 cross-heading word substituted by 2015 c. 26 Sch. 9 para. 63
s. 263A-263G and cross-heading omitted by 2015 c. 26 s. 135(1)
Part VIIIE+W Individual Voluntary Arrangements
C1Pt. VIII (ss. 252-263) applied (with modifications) (1.12.1994) by S.I. 1994/2421, art. 5
C2Pt. VIII (ss. 252-263) restricted (6.4.1996 for the purpose only of authorising the making of regulations) by 1995 c. 26, ss. 91(3), 180(1) (with s. 121(5)); S.I. 1996/778, art. 2(5)(a). Sch. Pt. V
C3Pt. VIII (ss. 252–263) applied with modifications by S.I. 1986/2142, arts. 1(2), 11, 13(3), 15
C4Second Group of Parts (Pts. 8-11) modified (31.12.1996) by 1991 c. 57, Sch. 10 (as substituted by 1995 c. 25, s. 120(1), Sch. 22 para. 183 (with ss. 7(6), 115, 117); S.I. 1996/2909, art. 3)
Moratorium for insolvent debtorE+W
(a)no bankruptcy petition relating to the debtor may be presented or proceeded with,
[F1(aa)no landlord or other person to whom rent is payable may exercise any right of forfeiture by peaceable re-entry in relation to premises let to the debtor in respect of a failure by the debtor to comply with any term or condition of his tenancy of such premises, except with the leave of the court] and
(b)no other proceedings, and no execution or other legal process, may be commenced or continued [F2and no distress may be levied] against the debtor or his property except with leave of the court.
F1S. 252(2)(aa) inserted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 2(a); S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
F2Words in s. 252(2)(b) inserted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 2(b); S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
253 Application for interim order.E+W
(1)Application to the court for an interim order may be made where the debtor intends to make a proposal [F3under this Part, that is, a proposal]to his creditors for a composition in satisfaction of his debts or a scheme of arrangement of his affairs (from here on referred to, in either case, as a “voluntary arrangement”).
(2)The proposal must provide for some person (“the nominee”) to act in relation to the voluntary arrangement either as trustee or otherwise for the purpose of supervising its implementation [F4and the nominee must be a person who is qualified to act as an insolvency practitioner, or authorised to act as nominee, in relation to the voluntary arrangement].
(4)An application shall not be made under subsection (3)(a) unless the debtor has given notice of [F5the proposal] to the official receiver and, if there is one, the trustee of his estate.
(5)An application shall not be made while a bankruptcy petition presented by the debtor is pending, if the court has, under section 273 below, appointed an insolvency practitioner to inquire into the debtor’s affairs and report.
F3Words in s. 253(1) inserted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 3(a); S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
F4Words in s. 253(2) inserted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 3(b); S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
F5Words in s. 253(4) substituted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 3(c); S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
C5S. 253 amended (1.12.2001) by 2000 c. 8, s. 357(1); S.I. 2001/3538, art. 2(1)
254 Effect of application.E+W
(1)At any time when an application under section 253 for an interim order is pending
[F6(a)no landlord or other person to whom rent is payable may exercise any right of forfeiture by peaceable re-entry in relation to premises let to the debtor in respect of a failure by the debtor to comply with any term or condition of his tenancy of such premises, except with the leave of the court, and
(b)], the court may [F7forbid the levying of any distress on the debtor’s property or its subsequent sale, or both, and] stay any action, execution or other legal process against the property or person of the debtor.
F6S. 254(1)(a) inserted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 4(a); S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
F7Words in S. 254(1)(b) inserted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 4(b); S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
255 Cases in which interim order can be made.E+W
(1)The court shall not make an interim order on an application under section 253 unless it is satisfied—
(a)that the debtor intends to make [F8a proposal under this Part];
(c)that no previous application has been made by the debtor for an interim order in the period of 12 months ending with that day; and
(d)that the nominee under the debtor’s proposal F9. . . is willing to act in relation to the proposal.
(2)The court may make an order if it thinks that it would be appropriate to do so for the purpose of facilitating the consideration and implementation of the debtor’s proposal.
(3)Where the debtor is an undischarged bankrupt, the interim order may contain provision as to the conduct of the bankruptcy, and the administration of the bankrupt’s estate, during the period for which the order is in force.
(4)Subject as follows, the provision contained in an interim order by virtue of subsection (3) may include provision staying proceedings in the bankruptcy or modifying any provision in this Group of Parts, and any provision of the rules in their application to the debtor’s bankruptcy.
(5)An interim order shall not, in relation to a bankrupt, make provision relaxing or removing any of the requirements of provisions in this Group of Parts, or of the rules, unless the court is satisfied that that provision is unlikely to result in any significant diminution in, or in the value of, the debtor’s estate for the purposes of the bankruptcy.
F8Words in s. 255(1)(a) substituted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 5(a); S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
F9Words in s. 255(1)(d) repealed (1.1.2003) by 2000 c. 39, ss. 3, 15, Sch. 3 paras. 5(b), Sch. 5; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
256 Nominee’s report on debtor’s proposal. E+W
(1)Where an interim order has been made on an application under section 253, the nominee shall, before the order ceases to have effect, submit a report to the court stating—
(a)[F10whether, in his opinion, the voluntary arrangement which the debtor is proposing has a reasonable prospect of being approved and implemented,
(aa)]whether, in his opinion, a meeting of the debtor’s creditors should be summoned to consider the debtors’ proposal, and
[F11(3)The court may—
(3A)The court may, on an application made by the debtor in a case where the nominee has failed to submit the report required by this section, direct that the interim order shall continue, or (if it has ceased to have effect) be renewed, for such further period as the court may specify in the direction.]
(5)If the court is satisfied on receiving the nominee’s report that a meeting of the debtor’s creditors should be summoned to consider the debtor’s proposal, the court shall direct that the period for which the interim order has effect shall be extended, for such further period as it may specify in the direction, for the purpose of enabling the debtor’s proposal to be considered by his creditors in accordance with the following provisions of this Part.
(a)that the debtor has failed to comply with his obligations under subsection (2), or
F10Words in s. 256(1) inserted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 6(a); S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
F11S. 256(3)(3A) substituted for s. 256(3) (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 6(b); S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
C6Ss. 256–263 applied with modifications by S.I. 1986/1999, art. 3, Sch. I Pt. III
[F12 Procedure where no interim order made]E+W
F12Cross-heading preceding s. 256A, s. 256A and cross-heading before s. 257 inserted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 7; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
[F13256A Debtor’s proposal and nominee’s report.E+W
(2)For the purpose of enabling the nominee to prepare a report [F14under subsection (3)], the debtor shall submit to the nominee—
(3)If the nominee is of the opinion that the debtor is an undischarged bankrupt, or is able to petition for his own bankruptcy, the nominee shall, within 14 days (or such longer period as the court may allow) after receiving the document and statement mentioned in subsection (2), submit a [F15report to the debtor's creditors] stating—
(5)The court may, on an application made by the nominee, extend the period within which the nominee is to submit his report.]
F13Cross-heading preceding s. 256A, s. 256A and cross-heading before s. 257 inserted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 7; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
F14Words in s. 256A(2) substituted (6.4.2010) by The Legislative Reform (Insolvency) (Miscellaneous Provisions) Order 2010 (S.I. 2010/18), art. 8(1)(a)
F15Words in s. 256A(3) substituted (6.4.2010) by The Legislative Reform (Insolvency) (Miscellaneous Provisions) Order 2010 (S.I. 2010/18), art. 8(1)(b)
[F16 Creditors’ meeting]E+W
F16Cross-heading preceding s. 256A, s. 256A and cross-heading before s. 257 inserted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 7; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
257 Summoning of creditors’ meeting. E+W
[F17(1)Where it has been reported to the court under section 256 or to the debtor's creditors under section 256A that a meeting of debtor's creditors should be summoned, the nominee (or the nominee's replacement under section 256(3) or 256A(4)) shall summon that meeting for the time, date and place proposed in the nominee's report unless, in the case of a report to which section 256 applies, the court otherwise directs.]
(b)every person who would be such a creditor if the bankruptcy had commenced on the date on which notice of the meeting is given.
F17S. 257(1) substituted (6.4.2010) by The Legislative Reform (Insolvency) (Miscellaneous Provisions) Order 2010 (S.I. 2010/18), art. 8(2)
C7Ss. 256–263 applied with modifications by S.I. 1986/1999, art. 3, Sch. I Pt. III
C8S. 257 amended (1.12.2001) by 2000 c. 8, s. 357(1); S.I. 2001/3538, art. 2(1)
Consideration and implementation of debtor’s proposalE+W
258 Decisions of creditor’s meeting.E+W
(1)A creditors’ meeting summoned under section 257 shall decide whether to approve the proposed voluntary arrangement.
(3)The modifications subject to which the proposed voluntary arrangement may be approved may include one conferring the functions proposed to be conferred on the nominee on another person qualified to act as an insolvency practitioner [F18or authorised to act as nominee, in relation to the voluntary arrangement].
But they shall not include any modification by virtue of which the proposal ceases to be a proposal [F18under this Part].
(a)any preferential debt of the debtor is to be paid otherwise than in priority to such of his debts as are not preferential debts, F19...
[F20(aa)any ordinary preferential debt of the debtor is to be paid otherwise than in priority to any secondary preferential debts that the debtor may have,]
(b)a preferential creditor of the debtor is to be paid an amount in respect of [F21an ordinary preferential debt] that bears to that debt a smaller proportion than is borne to [F22another ordinary] preferential debt by the amount that is to be paid in respect of that other debt [F23, or
(c)a preferential creditor of the debtor is to be paid an amount in respect of a secondary preferential debt that bears to that debt a smaller proportion than is borne to another secondary preferential debt by the amount that is to be paid in respect of that other debt.]
(7)In this section “preferential debt” [F24, "ordinary preferential debt” and “secondary preferential debt” each has] the meaning given by section 386 in Part XII; and “preferential creditor” is to be construed accordingly.
F18Words in s. 258(3) substituted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 9; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
F19Word in s. 258(5)(a) omitted (1.1.2015) by virtue of The Banks and Building Societies (Depositor Preference and Priorities) Order 2014 (S.I. 2014/3486), arts. 1(2), 6(2)(a) (with art. 3)
F20S. 258(5)(aa) inserted (1.1.2015) by The Banks and Building Societies (Depositor Preference and Priorities) Order 2014 (S.I. 2014/3486), arts. 1(2), 6(2)(b) (with art. 3)
F21Words in s. 258(5)(b) substituted (1.1.2015) by The Banks and Building Societies (Depositor Preference and Priorities) Order 2014 (S.I. 2014/3486), arts. 1(2), 6(2)(c)(i) (with art. 3)
F22Words in s. 258(5)(b) substituted (1.1.2015) by The Banks and Building Societies (Depositor Preference and Priorities) Order 2014 (S.I. 2014/3486), arts. 1(2), 6(2)(c)(ii) (with art. 3)
F23S. 258(5)(c) and word inserted (1.1.2015) by The Banks and Building Societies (Depositor Preference and Priorities) Order 2014 (S.I. 2014/3486), arts. 1(2), 6(2)(d) (with art. 3)
F24Words in s. 258(7) substituted (1.1.2015) by The Banks and Building Societies (Depositor Preference and Priorities) Order 2014 (S.I. 2014/3486), arts. 1(2), 6(3) (with art. 3)
C9Ss. 256-263 applied (with modifications) by S.I. 1986/1999, art. 3, Sch. I Pt. III
C10S. 258 modified (10.8.2005) by The Insurers (Reorganisation and Winding Up) Regulations 2004 (S.I. 2004/353), reg. 33(5) (as modified (10.8.2005) by S.I. 2005/1998, regs. 2(3), {40(1)-(4)(11)})
259 Report of decisions to court.E+W
[F25(1)After the conclusion in accordance with the rules of the meeting summoned under section 257, the chairman of the meeting shall—
(b)where the meeting was summoned under section 257 pursuant to a report to the court under section 256(1)(aa) F26, report the result of it to the court.]
(2)If the report is that the meeting has declined (with or without modifications) to approve the [F27voluntary arrangement proposed under section 256], the court may discharge any interim order which is in force in relation to the debtor.
F25S. 259(1) substituted (6.4.2010) by The Legislative Reform (Insolvency) (Miscellaneous Provisions) Order 2010 (S.I. 2010/18), art. 8(3)(a)
F26Section 256(1)(a) was re-lettered paragraph (aa) by the Insolvency Act 2000 (c.23), Schedule 3, paragraphs 1 and 6(a).
F27Words in s. 259(2) substituted (6.4.2010) by The Legislative Reform (Insolvency) (Miscellaneous Provisions) Order 2010 (S.I. 2010/18), art. 8(3)(b)
C11Ss. 256–263 applied with modifications by S.I. 1986/1999, art. 3, Sch. I Pt. III
260 Effect of approval.E+W
(1)This section has effect where the meeting summoned under section 257 approves the proposed voluntary arrangement (with or without modifications).
[F28(b)binds every person who in accordance with the rules—
the debtor shall at that time become liable to pay to that person the amount payable under the arrangement.]
(3)The M1Deeds of Arrangement Act 1914 does not apply to the approved voluntary arrangement.
(4)Any interim order in force in relation to the debtor immediately before the end of the period of 28 days beginning with the day on which the report with respect to the creditors’ meeting was made to the court under section 259 ceases to have effect at the end of that period.
F28S. 260(2)(b)(2A) substituted for 260(2)(b) (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 10; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
C12Ss. 256–263 applied with modifications by S.I. 1986/1999, art. 3, Sch. I Pt. III
[F29261 Additional effect on undischarged bankruptE+W
F29S. 261 substituted (1.4.2004) by 2002 c. 40, ss. 264(1), 279, Sch. 22 para. 1 (with s. 249(6)); S.I. 2003/2093, art. 2(2), Sch. 2 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))
262 Challenge of meeting’s decision.E+W
(1)Subject to this section, an application to the court may be made, by any of the persons specified below, on one or both of the following grounds, namely—
(a)that a voluntary arrangement approved by a creditors’ meeting summoned under section 257 unfairly prejudices the interests of a creditor of the debtor;
[F30(b)a person who—
(ii)would have been so entitled if he had had notice of it]
(c)the nominee (or his replacement under section [F31256(3), 256A(4)] or 258(3)); and
(3)An application under this section shall not be made[F32(a)]after the end of the period of 28 days beginning with the day on which the report of the creditors’ meeting was made to the court under section 259 [F32or
but (subject to that) an application made by a person within subsection (2)(b)(ii) on the ground that the arrangement prejudices his interests may be made after the arrangement has ceased to have effect, unless it has come to an end prematurely.]
(b)give a direction to any person for the summoning of a further meeting of the debtor’s creditors to consider any revised proposal he may make or, in a case falling within subsection (1)(b), to reconsider his original proposal.
(5)Where at any time after giving a direction under subsection (4)(b) for the summoning of a meeting to consider a revised proposal the court is satisfied that the debtor does not intend to submit such a proposal, the court shall revoke the direction and revoke or suspend any approval given at the previous meeting.
(7)In any case where the court, on an application made under this section with respect to a creditors’ meeting, gives a direction under subsection (4)(b) or revokes or suspends an approval under subsection (4)(a) or (5), the court may give such supplemental directions as it thinks fit and, in particular, directions with respect to—
(b)such things done since the meeting as could not have been done if any interim order had been in force in relation to the debtor when they were done.
(8)Except in pursuance of the preceding provisions of this section, an approval given at a creditors’ meeting summoned under section 257 is not invalidated by any irregularity at or in relation to the meeting.
F30S. 262(2)(b) substituted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 11(1)(a); S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
F31Words in s. 262(2)(c) substituted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 11(1)(b); S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
F32Words in s. 262(3) inserted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 11(2); S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
C13Ss. 256–263 applied with modifications by S.I. 1986/1999, art. 3, Sch. I Pt. III
C14S. 262 amended (1.12.2001) by 2000 c. 8, s. 357(5)(a); S.I. 2001/3538, art. 2(1)
[F33262A False representations etc.E+W
(3)A person guilty of an offence under this section is liable to imprisonment or a fine, or both.]
F33S. 262A inserted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 12; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
F34262B Prosecution of delinquent debtors.E+W
F34S. 262B inserted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 12; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
F35262C Arrangements coming to an end prematurely.E+W
For the purposes of this Part, a voluntary arrangement approved by a creditors’ meeting summoned under section 257 comes to an end prematurely if, when it ceases to have effect, it has not been fully implemented in respect of all persons bound by the arrangement by virtue of section 260(2)(b)(i).
F35S. 262C inserted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 12; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
263 Implementation and supervision of approved voluntary arrangement.E+W
(2)The person who is for the time being carrying out, in relation to the voluntary arrangement, the functions conferred by virtue of the approval on the nominee (or his replacement under section [F36256(3), 256A(4)] or 258(3)) shall be known as the supervisor of the voluntary arrangement.
make an order appointing a person who is qualified to act as an insolvency practitioner [F37or authorised to act as supervisor, in relation to the voluntary arrangement], either in substitution for the existing supervisor or to fill a vacancy.
This is without prejudice to section 41(2) of the M2Trustee Act 1925 (power of court to appoint trustees of deeds of arrangement).
F36Words in s. 263(2) substituted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 13(a); S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
F37Words in s. 263(5) substituted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 13(b); S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
C15Ss. 256–263 applied with modifications by S.I. 1986/1999, art. 3, Sch. I Pt. III
S. 263 amended (1.12.2001) by 2000 c. 8, s. 357(5)(b); S.I. 2001/3538, art. 2(1)
[F38Fast-track voluntary arrangementE+W
F38Ss. 263A-263G and cross-heading inserted (1.4.2004) by 2002 c. 40, ss. 264(1), 279, Sch. 22 para. 2 (with s. 249(6)); S.I. 2003/2093, art. 2(2), Sch. 2 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))
263A AvailabilityE+W
263B DecisionE+W
[F39263C ResultE+W
As soon as is reasonably practicable after the implementation of arrangements under section 263B(2) the official receiver shall [F40notify the Secretary of State] whether the proposed voluntary arrangement has been approved or rejected.]
F39Ss. 263A-263G and cross-heading inserted (1.4.2004) by 2002 c. 40, ss. 264(1), 279, Sch. 22 para. 2 (with s. 249(6)); S.I. 2003/2093, art. 2(2), Sch. 2 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))
F40Words in s. 263C substituted (6.4.2010) by The Legislative Reform (Insolvency) (Miscellaneous Provisions) Order 2010 (S.I. 2010/18), art. 9(1)
[F41263D Approval of voluntary arrangementE+W
(1)This section applies where the official receiver [F42notifies the Secretary of State] under section 263C that a proposed voluntary arrangement has been approved.
(7)A reference in this Act or another enactment to a voluntary arrangement approved under this Part includes a reference to a voluntary arrangement which has effect by virtue of this section.]
F41Ss. 263A-263G and cross-heading inserted (1.4.2004) by 2002 c. 40, ss. 264(1), 279, Sch. 22 para. 2 (with s. 249(6)); S.I. 2003/2093, art. 2(2), Sch. 2 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))
F42Words in s. 263D(1) substituted (6.4.2010) by The Legislative Reform (Insolvency) (Miscellaneous Provisions) Order 2010 (S.I. 2010/18), art. 9(2)
263E ImplementationE+W
[F43263F RevocationE+W
(3)An application under subsection (2) may not be made after the end of the period of 28 days beginning with the date on which the official receiver [F44notifies the Secretary of State] under section 263C.
(4)But a creditor who was not made aware of the arrangements under section 263B(2) at the time when they were made may make an application under subsection (2) during the period of 28 days beginning with the date on which he becomes aware of the voluntary arrangement.]
F43Ss. 263A-263G and cross-heading inserted (1.4.2004) by 2002 c. 40, ss. 264(1), 279, Sch. 22 para. 2 (with s. 249(6)); S.I. 2003/2093, art. 2(2), Sch. 2 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))
F44Words in s. 263F(3) substituted (6.4.2010) by The Legislative Reform (Insolvency) (Miscellaneous Provisions) Order 2010 (S.I. 2010/18), art. 9(3)
263G OffencesE+W
(2)Section 262B shall have effect in relation to a voluntary arrangement which has effect by virtue of section 263D(2) (for which purposes the words “by a creditors’ meeting summoned under section 257” shall be disregarded).]