SCHEDULES

SCHEDULE 9Abolition of requirements to hold meetings; opted-out creditors

PART 2Individual insolvency

Individual voluntary arrangements

68

(1)

Section 261 (additional effect on undischarged bankrupt) is amended as follows.

(2)

In subsection (1)(a), for “the creditors' meeting summoned under section 257 approves” substitute “ pursuant to section 257 the debtor's creditors decide to approve ”.

(3)

In subsection (3)(a), for “decision of the creditors' meeting” substitute “creditors' decision”.