The Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018

Savings in respect of meetings to be held on or after the commencement date and resolutions by correspondence S

5.—(1) This paragraph applies where on or after the commencement date—

(a) a creditors' meeting is to be held as a result of a notice issued before that date in relation to a meeting for which provision is made by the 1986 Rules or the 1986 Act;

(b) a meeting is to be held as a result of a requisition by a creditor made before that date;

(c) a meeting is to be held as a result of a statement made under paragraph 52(1)(b) of Schedule B1 and a request is made before that date which obliges the administrator to summon an initial creditors' meeting.

(2) Where paragraph (1) applies, Part 5 of these Rules does not apply and the 1986 Rules relating to the following continue to apply—

(a) the requirement to hold the meeting;

(b) notice and advertisement of the meeting;

(c) governance of the meeting;

(d) recording and taking minutes of the meeting;

(e) the report or return of the meeting;

(f) membership and formalities of establishment of creditor's committees where the resolution to form the committee is passed at the meeting;

(g) the office-holder's resignation or removal at the meeting;

(h) the office-holder's release;

(i) fixing the office-holder's remuneration;

(j) hand-over of assets to a supervisor of a voluntary arrangement where the proposal is approved at the meeting;

(k) the notice of appointment of a supervisor of a voluntary arrangement where the appointment is made at the meeting;

(l) claims that remuneration is or that other expenses are excessive; and

(m) complaints about exclusion at the meeting.

(3) Where, before the commencement date, the administrator sought to obtain a resolution by correspondence under 1986 rule 2.28, the 1986 Rules relating to resolutions by correspondence continue to apply and paragraph (2) applies to any meeting that those rules require the office-holder to summon.