4Approval of agreement and certain exclusions

4 Approval of agreement and certain exclusions

4 Approval of agreement and certain exclusions

(1) The second agreement is hereby approved and ratified.

(2) The Moratorium Act 1932, and any amendment thereof, shall not apply to the first agreement as varied by the second agreement.

(3) The first agreement, as varied by the second agreement, shall not require to be registered under Part 9 of the Companies Act 1936, or the Bills of Sale Act 1898–1938, but without any such registration the first agreement, as varied by the second agreement, shall, so far as any security on the Company’s property or undertaking is thereby conferred, be valid against the liquidator or any creditor of the Company.