Company Law Enforcement Act, 2001

Amendment of section 33 of Act of 1990.

77.—Section 33 of the Act of 1990 is amended by the insertion of the following after subsection (2):

“(3) Where the terms of the arrangements referred to in subsection (2) are not amended within the period specified in that subsection, the arrangements shall be voidable at the instance of the company unless section 38(1)(a) or (b) applies.”.