S.L. 386.22 Art. 12Recourse to cellular assets by creditors.

Without prejudice to regulations 11 and 13, cellular assets attributable to a cell of a cell company shall:

(a) only be available to the creditors of the cell company who are creditors in respect of that cell and who are thereby entitled, pursuant to these regulations, to only have recourse to the cellular assets attributable to that cell;

(b) be absolutely protected from the creditors of the cell company who are not creditors in respect of that cell and who accordingly are not entitled to have recourse to the cellular assets attributable to that cell.