Insolvency Act 2000
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Change 1
4 Qualification or authorisation of nominees and supervisors.
(1) Part XIII of the Insolvency Act 1986 (insolvency practitioners and their qualification) is amended as follows. (2) In section 388 (meaning of “act as insolvency practitioner”)— (a) for subsection (1)(b) there is substituted— (b) where a voluntary arrangement in relation to the company is proposed or approved under Part I, as nominee or supervisor , (b) for subsection (2)(c) there is substituted— (c) where a voluntary arrangement in relation to the individual is proposed or approved under Part VIII, as nominee or supervisor , and (c) after subsection (2A) there is inserted— (2B) In relation to a voluntary arrangement proposed under Part I or VIII, a person acts as nominee if he performs any of the functions conferred on nominees under the Part in question. (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4 Qualification or authorisation of nominees and supervisors.
(1) Part XIII of the Insolvency Act 1986 (insolvency practitioners and their qualification) is amended as follows. (2) In section 388 (meaning of “act as insolvency practitioner”)— (a) for subsection (1)(b) there is substituted— (b) where a voluntary arrangement in relation to the company is proposed or approved under Part I, as nominee or supervisor , (b) for subsection (2)(c) there is substituted— (c) where a voluntary arrangement in relation to the individual is proposed or approved under Part VIII, as nominee or supervisor , and (c) after subsection (2A) there is inserted— (2B) In relation to a voluntary arrangement proposed under Part I or VIII, a person acts as nominee if he performs any of the functions conferred on nominees under the Part in question. (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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