76. Effect of Deed of Company Arrangement on creditors

(1) A Deed of Company Arrangement binds all creditors of the Company, so far as concerns claims arising on or before the day specified in the Deed of Company Arrangement under Section 73(4)(i) (Effect of creditors' resolution).
(2) Subsection (1) does not bind a secured creditor or prevent a secured creditor from realising or otherwise dealing with security, except so far as —
(a) the Deed of Company Arrangement so provides in relation to a secured creditor who voted in favour of the resolution of creditors because of which the Company executed the Deed of Company Arrangement; or
(b) the Court orders under Section 79(2) (Court may limit rights).
(3) Subsection (1) does not affect a right that an owner or lessor of property has in relation to that property, except so far as —
(a) the Deed of Company Arrangement so provides in relation to an owner or lessor of property who voted in favour of the resolution of creditors because of which the Company executed the Deed of Company Arrangement; or
(b) the Court orders under Section 79(4) (Court may limit rights).
(4) Section 117 (The members of a company) of the Companies Regulations 2015 does not prevent a creditor of the Company from becoming a member of the Company as a result of the Deed of Company Arrangement requiring the creditor to accept an offer of shares in the Company.