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SCHEDULE

PART 1AMENDMENT OF THE PRINCIPAL RULES

SECTION 4: AMENDMENT OF PART 3 OF THE RULES

Amendment of Rule 3.1

23.  For Rule 3.1 there shall be substituted the following:—

Acceptance and confirmation of acceptance of appointment

3.1.(1) Where two or more persons are appointed as joint receivers or managers of a company’s property under powers contained in an instrument, the acceptance of such an appointment shall be made by each of them in accordance with section 33 as if that person were a sole appointee, but the joint appointment takes effect only when all such persons have so accepted and is then deemed to have been made at the time at which the instrument of appointment was received by or on behalf of all such persons.

(2) Subject to the next paragraph, where a person is appointed as the sole or joint receiver of a company’s property under powers contained in an instrument, the appointee shall, if he accepts the appointment, within 7 days confirm his acceptance in writing to the person appointing him.

(3) Paragraph (2) does not apply where an appointment is accepted in writing.

(4) Any acceptance or confirmation of acceptance of appointment as a receiver or manager of a company’s property, whether under the Act or the Rules, may be given by any person (including, in the case of a joint appointment, any joint appointee) duly authorised for that purpose on behalf of the receiver or manager.

(5) In confirming acceptance the appointee or person authorised for that purpose shall state—

(a)the time and date of receipt of the instrument of appointment, and

(b)the time and date of acceptance..

Amendment of Rule 3.2

24.  In paragraph (2) of Rule 3.2 for the word “notice” there shall be substituted the words “notices sent to the company and the creditors”.

Amendment of Rule 3.3

25.—(1) In paragraph (1) of Rule 3.3 for the word “If” there shall be substituted the word “Where”.

(2) In paragraph (4) of Rule 3.3 for the words “instructions for” to the end there shall be substituted the words “the forms required for the preparation of the statement of affairs”.

Omission of Rule 3.13

26.  Rule 3.13 shall be omitted.

Amendment of Rule 3.17

27.  For paragraph (2) of Rule 3.17 there shall be substituted the following:—

(2) No person may act as a member of the committee unless and until he has agreed to do so and, unless the relevant proxy or authorisation contains a statement to the contrary, such agreement may be given by his proxy-holder or representative under section 375 of the Companies Act present at the meeting establishing the committee.

(2A) The receiver’s certificate of the committee’s due constitution shall not issue unless and until at least 3 of the persons who are to be members of the committee have agreed to act..

Amendment of Rule 3.21

28.  In paragraph (2) of Rule 3.21 there shall be added at the end the words “, and for this purpose any proxy or any authorisation under section 375 of the Companies Act in relation to any meeting of creditors of the company shall, unless it contains a statement to the contrary, be treated as a letter of authority to act generally signed by or on behalf of the committee-member”.

Amendment of Rule 3.27

29.  In paragraph (2) of Rule 3.27 for the words from “a statement incorporating” to the end there shall be substituted the words “a copy of any proposed resolution on which a decision is sought, which shall be set out in such a way that agreement with or dissent from each separate resolution may be indicated by the recipient on the copy so sent”.

Insertion of Rule 3.30A

30.  After Rule 3.30 there shall be inserted the following rule:—

Formal defects

3.30A.  The acts of the creditors' committee established for any administrative receivership are valid notwithstanding any defect in the appointment, election or qualifications of any member of the committee or any committee-member’s representative or in the formalities of its establishment..

Amendment of Rule 3.33

31.  In paragraph (1) of Rule 3.33:—

(a)the word “and” shall be omitted at the end of subparagraph (a), and

(b)there shall be added at the end of subparagraph (b) the words:—

, and

(c)in any case, to the members of the creditors' committee (if any).

Amendment of Rule 3.34

32.  In Rule 3.34:—

(a)the word “and” shall be omitted at the end of subparagraph (a), and

(b)there shall be added at the end of subparagraph (b) the words:—

, and

(c)in any case, to the members of the creditors' committee (if any).

Amendment of Rule 3.35

33.  In paragraph (1) of Rule 3.35 for subparagraph (a) there shall be substituted the following:—

(a)to the company or, if it is in liquidation, the liquidator, and,

and in subparagraph (b) the words “in any case,” shall be omitted.