| Commentary

32 Directors’ proposal

| Commentary

32 Directors’ proposal

The formal steps by which the proposal must be prepared have been slightly amended and restated in the Insolvency (England and Wales) Rules 2016 (the ‘2016 Rules’)1. The chief effect is to cut out the former step whereby the directors were required when submitting their proposal and the company's statement of affairs to the nominee2 also to give formal written notice to the nominee3. Instead, the nominee must now state the date he received the proposal in his notice of consent to act; and the period of 28 days referred to in Section 2(2) of the Insolvency

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