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Version status: Repealed | Document consolidation status: Updated to reflect all known changes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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26. Provisions with respect to leases.

Repealed from 1 June 2015

The Act of 1990 is hereby amended by the insertion of the following section after section 25A (inserted by section 25):

"25B.

(1) Subject to subsection (3), proposals for a compromise or scheme of arrangement shall not contain, nor shall any modification by the court under section 24 of such proposals result in their containing, a provision providing for either or both -

(a) a reduction in the amount of any rent or other periodical payment reserved under a lease of land that falls to be paid after the compromise or scheme of arrangement would take effect under section 24(9) or the complete extinguishment of the right of the lessor to any such payments,

(b) as respects a failure -

(i) to pay an amount of rent or make any periodical payment reserved under a lease of land, or

(ii) to comply with any other covenant or obligation of such a lease,

that falls to be paid or complied with after the date referred to in paragraph (a), a requirement that the lessor under such a lease shall no

Comparing proposed amendment...