(4) The Minister may by regulations made under section 19 provide that any paragraph (or a part of it) in subsection (3)—
- (a) does not apply in relation to a description of scheduled contracts (or a part of such contract); or
- (b) applies in relation to a description of scheduled contracts (or a part of such contract) subject to modifications set out in the regulations,
and this Part applies in relation to that description of scheduled contracts (or part) as if that paragraph (or part) were omitted or modified in the manner so set out.
(5) For the purposes of paragraph (a) or (b) of subsection (3), where the proceedings relate to the subject inability and any other matter, that paragraph does not apply to the part of the proceedings relating to that other matter.
(6) Where the scheduled contract is mentioned in sub-paragraph (a) or (b) of paragraph 1 of the Schedule, the actions in subsection (3) only apply in relation to a security mentioned in that sub-paragraph or the part of the obligation that is secured by such security.
(7) Any period of limitation prescribed by any law or in any contract for the taking of an action in relation to the subject inability is extended by a period equal to the period beginning on the date of service by A of the notification for relief in accordance with section 9(1) and ending on the earliest of the following:
- (a) the expiry of the prescribed period;
- (b) the withdrawal by A of A's notification for relief;
- (c) on an application under section 9(2), the making of a determination by the assessor that the case in question is not one to which this section applies.
(8) Any of the following, namely:
- (a) proceedings before a court;
- (b) arbitral proceedings under the Arbitration Act;
