[A49 Regulated companies: modifications to this Part]

[Chapter 8
Miscellaneous and General]

[Special rules for certain kinds of company etc]

[A49  Regulated companies: modifications to this Part]

[(1)     For the purposes of sections A3 and A4 as they apply in relation to a regulated company, section A6(1) has effect as if the documents listed there included a reference to the written consent of the appropriate regulator to the appointment of the proposed monitor.

(2)     The remaining provisions of this section apply in relation to a moratorium for a regulated company.

(3)     Any notice under section A8(2), A17(2) to (4) or A39(8) must also be sent by the monitor to the appropriate regulator.

(4)     The directors must give the appropriate regulator notice of any qualifying decision procedure by which a decision of the company's creditors is sought for the purposes of section A12(2) or A44(4)(c).

(5)     If the directors fail to comply with subsection (4), any director who did not have a reasonable excuse for the failure commits an offence.


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