Section 901B | Power to exclude companies providing financial services, etc ^F1

(1)The Secretary of State may by regulations provide that this Part does not apply—^F1

(a)where the company in respect of which a compromise or arrangement is proposed is an authorised person, or an authorised person of a specified description;^F1

(b)where—^F1

(i)a compromise or arrangement is proposed between a company, or a company of a specified description, and any creditors of the company, and^F1

(ii)those creditors consist of or include creditors of a specified description.^F1

(2)In this section—^F1

“authorised person” has the same meaning as in the Financial Services and Markets Act 2000 (see section 31 of that Act);

“specified” means specified in the regulations.

(3)Regulations under this section are subject to affirmative resolution procedure.^F1