1) An application under Rule 3.1.1
on behalf of a Company must not be made at a time when:
(A) an Arrangement in relation to the Company has been proposed under Part 2 Section 8
of the Insolvency Regulations and the matter has not been finally concluded;
(B) Article 26
of the Insolvency Regulations applies (interim moratorium where an application for an Administration Order has been made or notice of intention to appoint an Administrator has been filed);
(C) the Company is in administration under Part 2
of the Insolvency Regulations; or
(D) the Company is being wound up under Part 3
of the Insolvency Regulations, whether voluntarily or by the QFC Court, or an application under that Part for winding up has been presented and not finally dealt with or withdrawn.
2) For the purposes of (1)(A), the matter is finally concluded if:
(A) no meetings are to be summoned,
(B) meetings summoned under that section fail to approve the arrangement with no, or the same, modifications,
(C) an arrangement approved by meetings summoned under that section has been fully implemented, or
(D) the QFC Court makes an order revoking approval given at previous meetings and, if the QFC Court gives any directions, the Company has done whatever it is required to do under those directions.
3) An application made in contravention of this Rule amounts to a contravention of the Companies Regulations.