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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 June 2015 - onwards
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23. Amendment of section 23 of Act of 1990.

Repealed from 1 June 2015

Section 23 of the Act of 1990 is hereby amended -

(a) in subsection (1), by the substitution for "compromise or scheme of arrangement," of "compromise or scheme of arrangement; save where expressly provided otherwise in this section, this section shall not authorise, at such a meeting, anything to be done in relation to such proposals by any member or creditor.",

(b) by the deletion of subsection (3),

(c) by the insertion of the following subsection after subsection (4):

"(4A) Nothing in subsection (4) shall, in the case of a creditor who abstains from voting, or otherwise fails to cast a vote, in respect of the proposals, be construed as permitting such an abstention or failure to be regarded as a casting by that person of a vote against the proposals.",

(d) in subsection (6), by the deletion of "(3) or",

and

(e) by the addition of the following subsection after subsection (8):

"(9) Without prejudice to subsections (1) to (8), in the case of a company referred to in paragraph (b)

Comparing proposed amendment...