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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 June 2015 - onwards
  Version 3 of 3    

24. Amendment of section 24 of Act of 1990.

Repealed from 1 June 2015

Section 24 of the Act of 1990 is hereby amended -

(a) in subsection (2), by the addition of the following paragraph after paragraph (c):

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

(b) in subsection (4), by the substitution of the following paragraph for paragraph (a):

"(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",

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

"(4A) Without prejudice to subsection (4), the court shall not confirm any proposals in respect of a company to which an examiner has been appointed under section 4 if the proposals would have the effect of impairing the interests of the creditors of the company in such a manner as to favour the interests of the creditors or members of any company to which it is related, being a company to which that examiner has been appointed

Comparing proposed amendment...