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As an Amendment to Dr Kim Howell's proposed Amendment (No. 36) (Clause, 11, page 7, line 13):
Mr Christopher Chope
(a)
*Leave out lines 6 to 8 and insert—
'(b) the deceased person died after the commencement of this section,
(bb) the petition for the order was presented within the period of five years beginning with the day on which he died, and".'.
Dr Kim Howells
37
Clause 14, page 8, line 32, at end insert—
'( ) For the purposes of the Financial Services and Markets Act 2000, the functions conferred on the Financial Services Authority by virtue of Schedules 1 and 2 are to be treated as conferred by that Act'.
NEW CLAUSES
Secretary of State's guidelines
Mr Christopher Chope
NC1
To move the following Clause:—
'After subsection (4) of the Company Directors Disqualification Act 1986 there is inserted—
"(5) The Secretary of State shall from time to time publish guidelines as to the circumstances in which he may deem it expedient in the public interest that a disqualification order under section 6 shall be made.".'.
Disqualification for unfitness
Mr Christopher Chope
NC2
To move the following Clause:—
'After subsection (1)(a) of section 6 of the Company Directors Disqualification Act 1986 for the word "and" there is substituted "or
(aa) that he has been a director of a company which within the previous year was struck off the register of companies by reason of its failure to deliver company accounts, and".'.
Administration orders
Dr Kim Howells
NC3
To move the following Clause:—
'.—(1) Part II of the Insolvency Act 1986 (administration orders) is amended as follows.
(2) In section 10 (effect of application), after paragraph (a) of subsection (1) there is inserted—
"(aa) no landlord or other person to whom rent is payable may exercise any right of forfeiture by peaceable re-entry in relation to premises let to the company in respect of a failure by the company to comply with any term or condition of its tenancy of such premises, except with the leave of the court and subject to such terms as the court may impose".
(3) In section 11 (effect of order), after paragraph (b) of subsection (3) there is inserted—
"(ba) no landlord or other person to whom rent is payable may exercise any right of forfeiture by peaceable re-entry in relation to premises let to the company in respect of a failure by the company to comply with any term or condition of its tenancy of such premises, except with the consent of the administrator or the leave of the court and subject (where the court gives leave) to such terms as the court may impose" '.
Registration of supervisors
Mr Austin Mitchell
Mr Alan Simpson
NC4
To move the following Clause:—
'. After section 7 there is inserted—
"7A. A person who acts as a supervisor for voluntary arrangements shall register with the Secretary of State and shall publish an annual report on his scale of fees and his record of maintaining companies in being and of liquidations".'.
Reports by accountants for creditor banks
Mr Austin Mitchell
Mr Alan Simpson
NC5
To move the following Clause:—
'. After section 6 there is inserted—
". A bank which is a creditor of a company which is proposing a voluntary arrangement, or for which a voluntary arrangement has been approved, may seek a report on the company's assets, debts and liabilities, but no person who provides such a report may subsequently act as supervisor of the arrangement or liquidator of the company".'.
Prohibition on certain actions by creditor banks
Mr Austin Mitchell
Mr Alan Simpson
NC6
To move the following Clause:—
'. After section 6 there is inserted—
". Where the directors of an eligible company have announced their intention to make a proposal for a voluntary arrangement, no bank which is a creditor of the company may take any legal action against the assets of the company nor make a demand for the repayment of any loan unless and until there is a failure to make an arrangement".'.
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