3In section 2 (procedure where nominee is not the liquidator or administrator)—
(a)in subsection (2)(a), at the beginning there is inserted—
“whether, in his opinion, the proposed voluntary arrangement has a reasonable prospect of being approved and implemented,
(aa)”.
(b)for subsection (4) there is substituted—
“(4)The court may—
(a)on an application made by the person intending to make the proposal, in a case where the nominee has failed to submit the report required by this section or has died, or
(b)on an application made by that person or the nominee, in a case where it is impracticable or inappropriate for the nominee to continue to act as such,
direct that the nominee be replaced as such by another person qualified to act as an insolvency practitioner, or authorised to act as nominee, in relation to the voluntary arrangement.”