SCHEDULES
SCHEDULE 9Abolition of requirements to hold meetings; opted-out creditors
PART 1Company insolvency
Winding-up
I1I2I325
1
Section 101 (appointment of liquidation committee) is amended as follows.
2
For subsection (1) substitute—
1
The creditors may in accordance with the rules appoint a committee (“the liquidation committee”) of not more than 5 persons to exercise the functions conferred on it by or under this Act.
3
In subsection (3)—
a
for “resolve” (in both places) substitute “
decide
”
;
b
for “the persons mentioned in the resolution” (in both places) substitute “
those persons
”
.