The Insolvency (Amendment) Rules 2010

Amendments to Rule 3.17

126.—(1) Rule 3.17 (formalities of establishment) is amended as follows.

(2) After paragraph (1) insert—

“(1A) If the chairman of the creditors’ meeting which resolves to establish the committee is not the administrative receiver, the chairman must as soon as reasonably practicable give notice of the resolution to the receiver and inform the receiver of the names and addresses of the persons elected to be members of the committee.”.

(3) In paragraph (2)—

(a) omit “or representative under section 323 of the Companies Act”; and

(b) after “establishing the committee” add “or, in the case of a corporation, by its duly appointed representative”.

(4) In paragraph (2A)—

(a) for “issue unless and until at least 3 of the persons who are” substitute “be issued before the minimum number of members set out in Rule 3.16 elected”; and

(b) after “agreed to act” add “and must be issued as soon as reasonably practicable thereafter”.

(5) In paragraph (4), after “registrar of companies” add “as soon as reasonably practicable”.

(6) In paragraph (5), after “membership,” insert “as soon as reasonably practicable”.