[A14 Extension while proposal for CVA pending]
[A14 Extension while proposal for CVA pending]

[(1)     Subsection (2) applies where—

(a)     at any time, the directors make a proposal under Part 1 (company voluntary arrangements), and

(b)     apart from that subsection, the moratorium would end at a time before the proposal is disposed of.

(2)     The moratorium—

(a)     does not end at the time mentioned in subsection (1)(b), and

(b)     instead, ends when the proposal is disposed of.

(3)     For the purposes of this section a proposal under Part 1 is “disposed of” when any of the following takes place—

(a)     the company and its creditors both decide under section 4 not to approve the voluntary arrangement

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