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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 June 2015 - onwards
  Version 4 of 4    

24. Confirmation of proposals.

Repealed from 1 June 2015

(1) The report of the examiner under section 18 shall be set down for consideration by the court as soon as may be after receipt of the report by the court.

(2) The following persons may appear and be heard at a hearing under subsection (1) -

(a) the company,

(b) the examiner,

(c) any creditor or member whose claim or interest would be impaired if the proposals were implemented.

(d) in case the company is a company referred to in paragraph (b) or (c) of section 3(2), the Central Bank.

(3) At a hearing under subsection (1) the court may, as it thinks proper, subject to the provisions of this section and section 25, confirm, confirm subject to modifications, or refuse to confirm the proposals.

(4) The court shall not confirm any proposals -

(a) unless at least one class of creditors whose interests or claims would be impaired by implementation of the proposals has accepted the proposals, or

(b) if the sole or primary purpose of the proposals is the avoidance of payment of tax due, o

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