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Select Committee on Enterprise and Economic Strategy debate -
Wednesday, 9 Apr 1997

SECTION 166.

I move amendment No. 142:

In page 131, subsection (3), lines 12 and 13, to delete "the examiner, or by such other person as the Court may direct, for" and substitute "such person as the Court may direct for".

Section 166 deals with an application to the court for a revocation of its confirmation of the examiner's proposals for the survival of a credit union as a going concern. Under subsection (1), this application must be made within six months of the original court decision to confirm the compromise or scheme of arrangement. The examiner ceases work once that decision to confirm his proposal has been made by the court. However, in section 166(3), there is an inappropriate reference to the examiner who is being required to deliver the court's decision on the application for revocation to the Registrar for placing on the public file of a credit union. At my request, the parliamentary draftsman agreed to omit this reference to the examiner.

Amendment agreed to.
Section 166, as amended, agreed to.
Sections 167 and 168 agreed to.
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