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- Point in Time (01/03/2016)
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Version Superseded: 06/04/2017
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(1)Where the nominee under section 1 is not the liquidator or administrator, and it has been report to the court [F2that such meetings as are mentioned in section 2(2) should be summoned] [F2under section 2(2) that the proposal should be considered by a meeting of the company and by the company's creditors] , the person making the report shall (unless the court otherwise [F3directs) summon those meetings for the time, date and place proposed in the report.] [F3directs)—
(a)summon a meeting of the company to consider the proposal for the time, date and place proposed in the report, and
(b)seek a decision from the company's creditors as to whether they approve the proposal.]
(2)Where the nominee is the liquidator or administrator, he [F4shall summon meetings of the company and of its creditors to consider the proposal for such a time, date and place as he thinks fit.] [F4shall—
(a)summon a meeting of the company to consider the proposal for such time, date and place as he thinks fit, and
(b)seek a decision from the company's creditors as to whether they approve the proposal.]
[F5(3)The persons to be summoned to a creditors’ meeting under this section are every creditor of the company of whose claim and address the person summoning the meeting is aware.]
[F5(3)A decision of the company's creditors as to whether they approve the proposal is to be made by a qualifying decision procedure.
(4)Notice of the qualifying decision procedure must be given to every creditor of the company of whose claim and address the person seeking the decision is aware.]
Textual Amendments
F1S. 3 heading substituted (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 9 para. 3(5); S.I. 2015/1329, reg. 3(d); S.I. 2016/1020, reg. 4(e) (with reg. 5) (as amended by S.I. 2017/363, reg. 3)
F2Words in s. 3(1) substituted (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 9 para. 3(2)(a); S.I. 2015/1329, reg. 3(d); S.I. 2016/1020, reg. 4(e) (with reg. 5) (as amended by S.I. 2017/363, reg. 3)
F3Words in s. 3(1) substituted (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 9 para. 3(2)(b); S.I. 2015/1329, reg. 3(d); S.I. 2016/1020, reg. 4(e) (with reg. 5) (as amended by S.I. 2017/363, reg. 3)
F4Words in s. 3(2) substituted (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 9 para. 3(3); S.I. 2015/1329, reg. 3(d); S.I. 2016/1020, reg. 4(e) (with reg. 5) (as amended by S.I. 2017/363, reg. 3)
F5S. 3(3)(4) substituted for s. 3(3) (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 9 para. 3(4); S.I. 2015/1329, reg. 3(d); S.I. 2016/1020, reg. 4(e) (with reg. 5) (as amended by S.I. 2017/363, reg. 3)
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