This section applies to a decision, under section 4, with respect to the approval of a proposed voluntary arrangement.
The decision has effect if, in accordance with the rules—
it has been taken by the meeting of the company summoned under section 3 and by the company's creditors pursuant to that section, or
(subject to any order made under subsection (6)) it has been taken by the company's creditors pursuant to that section.
If the decision taken by the company's creditors differs from that taken by the company meeting, a member of the company may apply to the court.
An application under subsection (3) shall not be made after the end of the period of 28 days beginning with—
the day on which the decision was taken by the company's creditors, or
where the decision of the company meeting was taken on a later day, that day.
Where a member of a regulated company, as defined by section A49(13), applies to the court under subsection (3), the appropriate regulator is entitled to be heard on the application.
The appropriate regulator" means—
where the regulated company is a PRA-regulated company as defined by section A49(13), the Financial Conduct Authority and the Prudential Regulation Authority, and
in any other case, the Financial Conduct Authority.
On an application under subsection (3), the court may—
order the decision of the company meeting to have effect instead of the decision of the company's creditors, or
make such other order as it thinks fit.