SCHEDULES
SCHEDULE 9Abolition of requirements to hold meetings; opted-out creditors
PART 1Company insolvency
Receivers and managers
I112
1
Section 48 (report by administrative receiver - England and Wales) is amended as follows.
2
In subsection (1), after “such creditors” insert “
, other than opted-out creditors,
”
.
3
In subsection (2)—
a
in paragraph (a), after “company” insert “
, other than opted-out creditors,
”
;
b
omit the words after paragraph (b).
4
Omit subsection (3).
I213
In section 49(1) (committee of creditors - England and Wales), for the words from the beginning to “fit” substitute “
Where an administrative receiver has sent or published a report as mentioned in section 48(2) the company's unsecured creditors may, in accordance with the rules
”
.
I314
1
Section 67 (report by receiver - Scotland) is amended as follows.
2
In subsection (1), after “such creditors” insert “
, other than opted-out creditors,
”
.
3
In subsection (2)—
a
in paragraph (a), after “company” insert “
, other than opted-out creditors
”
;
b
omit the words after paragraph (b).
4
Omit subsection (3).
I415
In section 68(1) (committee of creditors - Scotland), for the words from the beginning to “fit” substitute “
Where a receiver has sent or published a report as mentioned in section 67(2) the company's unsecured creditors may, in accordance with the rules
”
.