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Application and modifications of Voluntary Winding Up Regulations

Insolvency, Restructuring and Dissolution (Simplified Winding Up) Regulations 2021

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—(1) Subject to paragraph (2) and the modifications in paragraphs (3) to (8), the Voluntary Winding Up Regulations apply to or in relation to a voluntary winding up under the simplified winding up programme.(2) Regulations 2, 4, 5, 7, 8, 9, 26 to 34 and 40 of the Voluntary Winding Up Regulations do not apply to or in relation to a voluntary winding up under the simplified winding up programme.(3) Regulation 3 of the Voluntary Winding Up Regulations applies as if the references to those Regulations were each a reference to those Regulations as they apply to or in relation to a company that is being wound up under the simplified winding up programme.(4) Regulation 16 of the Voluntary Winding Up Regulations applies as if —(a)paragraph (1) of that regulation were replaced by the following paragraph: “(1) Subject to paragraph (2), in a case where any rent or other payment falls due on a day of any stated period, and the simplified winding up programme for the company concerned is deemed under section 250K(2) of the Act to have commenced on a day other than that day, any person entitled to the rent or payment may prove for a proportionate part of the rent or payment up to (and including) the date of commencement, as if the rent or payment grew due from day to day.”; and(b)the reference in paragraph (2) of that regulation to the Voluntary Winding Up Regulations were a reference to those Regulations as they apply to or in relation to a company that is being wound up under the simplified winding up programme.(5) Regulation 18(1) of the Voluntary Winding Up Regulations applies as if the reference to the date of the resolution to wind up a company were a reference to the date the simplified winding up programme for a company commenced under section 250K(2) of the Act.(6) Regulation 19(1)(b) of the Voluntary Winding Up Regulations applies as if the reference to the date of the resolution to wind up a company were a reference to the date the simplified winding up programme for a company commenced under section 250K(2) of the Act.(7) Regulation 22(2) of the Voluntary Winding Up Regulations applies as if sub-paragraph (a) of that provision were replaced by the following sub-paragraph:“(a)by publishing the notice in accordance with Form VWU‑12 on the designated website;”.(8) Regulation 38 of the Voluntary Winding Up Regulations applies as if —(a)sub-paragraphs (a) and (b) of paragraph (1) were replaced by the following sub-paragraphs: “(a)publish on the designated website a notice of his or her intention to declare a dividend; and(b)send the notice to every creditor mentioned in the statement of affairs made in accordance with section 250E of the Act who has not proved the creditor’s debt.”; and(b)the words “in the Gazette” in paragraphs (6)(b) and (7) were replaced by the words “on the designated website”.

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