SCHEDULES

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

PART 2Individual insolvency

Bankruptcy

I1I283

1

Section 331 (final meeting) is amended as follows.

2

For subsection (2) substitute—

2

The trustee must give the bankrupt's creditors (other than opted-out creditors) notice that it appears to the trustee that the administration of the bankrupt's estate is for practical purposes complete.

2A

The notice must—

a

be accompanied by a report of the trustee's administration of the bankrupt's estate;

b

explain the effect of section 299(3)(d) and how the creditors may object to the trustee's release.

3

Omit subsections (3) and (4).

4

In the heading, for “meeting” substitute “ report ”.