8(1)At the hearing the sheriff shall examine the documents and hear any representations and thereafter shall make an order—S
(a)if he is satisfied that a majority in number and not less than two-thirds in value of the creditors known to the permanent trustee have accepted the offer of composition and that the terms of the offer are reasonable, approving the offer; and
(b)if he is not so satisfied, refusing to approve the offer of composition.
(2)The sheriff may make an order approving the offer of composition, notwithstanding that there has been a failure to comply with any provision of this Schedule.
(3)The debtor or any creditor may within 14 days of the order being made appeal against an order approving or refusing to approve the offer of composition.