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Version status: Revoked | Document consolidation status: Updated to reflect all known changes
Version date: 4 February 2011 - onwards
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Regulation 28 Reorganisation measure or winding-up proceedings not to affect right to set-off

Revoked from 4 February 2011

(1) The imposition of a reorganisation measure, or the commencement of winding-up proceedings, in respect of a credit institution do not affect the rights of creditors of the institution to demand that the claims be set-off against those of the institution so long as such a set-off is permitted by the law that applies to the institution's claim.

(2) This Regulation does not affect the right to bring proceedings for void, voidability or unenforceability of legal acts detrimental to creditors under the general law of insolvency of the State.

Comparing proposed amendment...