New Clause 343

Company Law Reform Bill [Lords] – in a Public Bill Committee at 1:45 pm on 20th July 2006.

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Court sanction for compromise or arrangement

‘Where a compromise or arrangement is proposed between a company and its creditors, or any class of them, or between the company and its members, or any class of them—

(a) the company,

(b) any creditor or member of the company, or

(c) if the company is being wound up or an administration order is in force in relation it, the liquidator or administrator,

may apply to the court to sanction the compromise or arrangement.’.—[Margaret Hodge.]

Brought up, and added to the Bill.