Cap. 631 Art. 51Conflict between texts and languages.  Cap. 632.

(1) In case of conflict between the Maltese text and

English text of this Act, the English text shall prevail.

(2) Any rules or regulations made pursuant to any provision of this Act shall be made in the Maltese language and in the English language; however where in exceptional cases the use of the Maltese language would be difficult due to technical terminology, such rules or regulations may be made in the English language only.

FIRST SCHEDULE – PREVENTIVE RESTRUCTURING FILING DECLARATION

Preventive restructuring filing declaration

A preventive restructuring filing declaration to be formulated in terms of this Act shall contain:

(a) an estimation of the insolvency practitioner’s costs by way of remuneration in respect to services rendered in relation to preventive restructuring proceedings entered into in terms of this Act, including the basis upon which the estimation has been formulated;

(b) a statement of the insolvency practitioner, or, in the case of an insolvency practitioner being a legal person, a statement by the principal responsible for directing the fulfilment of the engagement by the legal person, confirming that the insolvency practitioner is not subject to any conflict of interest with respect to the debtor or the debtors’ creditors or, in the event of a potential conflict of interest, the proposed measures that the insolvency practitioner intends to apply in order to prevent any risk of the conflict of interest having any bearing, on either the fulfilment of the insolvency practitioner’s responsibilities, or on the preventive restructuring;

(c) a confirmation that the insolvency practitioner is lawfully authorised to act as such in terms of the Insolvency Practitioners Act and that the insolvency practitioner possesses the adequate resources so as to appropriately carry out its functions in terms of this Act, having regard to the circumstances of the debtor and its creditors.

SECOND SCHEDULE – CONTENTS OF RESTRUCTURING PLAN