Version Superseded: 06/04/2017
Point in time view as at 26/07/1994. This version of this provision no longer has effect.
Insolvency Act 1986, Paragraph 53 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
[F153(1)An initial creditors’ meeting to which an administrator’s proposals are presented shall consider them and may—
(a)approve them without modification, or
(b)approve them with modification to which the administrator consents.
(2)After the conclusion of an initial creditors’ meeting the administrator shall as soon as is reasonably practicable report any decision taken to—
(a)the court,
(b)the registrar of companies, and
(c)such other persons as may be prescribed.
(3)An administrator commits an offence if he fails without reasonable excuse to comply with sub-paragraph (2).]
Textual Amendments
F1Sch. B1 inserted (15.9.2003) by 2002 c. 40, ss. 248(2), 279, Sch. 16 (with s. 249(1)-(3)(6)); S.I. 2003/2093, art. 2(1), Sch. 1 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))
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