(1) The [appropriate regulator] is entitled to be heard on an application by an individual who is an authorised person under section 253 of the 1986 Act (or Article 227 of the 1989 Order).
(2) Subsections [(2A)] to (6) apply if such an order is made on the application of such a person.
[(2A) Where under section 257 of the 1986 Act the individual's creditors are asked to decide whether to approve the proposed voluntary arrangement—
(a) notice of the creditors' decision procedure must be given to the appropriate regulator; and
(b) the appropriate regulator or a person appointed by the
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
This Practice Note considers the legal concept of mistake in contract law. It examines common mistake, mutual mistake, unilateral mistake, mistake as to identity and mistake as to the document signed (non est factum). It also considers the impact of each of these types of mistake on the contract and
What is rescission of a contract?The remedy of rescission is available to a party whose consent, in entering into a contract, has been invalidated in some way:•the effect of rescinding a contract is to extinguish it and restore the parties to their pre-contractual positions•the main grounds of
When is quantum meruit and quantum valebat relevant?Claims in quantum meruit (value of services) and quantum valebat (value of goods) arise in diverse situations ranging from where contractual terms are silent on issues of payment to where there is no contract at all (Serck v Drake & Scull).General
This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge clauseWhere
0330 161 1234
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.