The Insolvency (Scotland) Rules 1986 No. 1915 (S. 139)

SCHEDULE 1 MODIFICATIONS OF PART 4 IN RELATION TO CREDITORS' VOLUNTARY WINDING UP

Chapter 7 (The liquidation committee)

Rule 4.40

21.  This Rule shall not apply.

Rule 4.41

21.  For paragraph (1) there shall be substituted the following:-

“(1) The committee must have at least 3 members before it can be established.”.

Rule 4.43

23.  This Rule shall not apply.

Rule 4.47

24.  For this Rule, there shall be substituted the following:-

“Quorum

4.47.   A meeting of the committee is duly constituted if due notice of it has been given to all the members and at least 2 members are present or represented.”.

Rule 4.53

25.  After paragraph (4) there shall be inserted the following:-

“(4A) Where the contributories make an appointment under paragraph (4), the creditor members of the committee may, if they think fit, resolve that the person appointed ought not to be a member of the committee; and -

(a) that person is not then, unless the court otherwise directs, qualified to act as a member of the committee, and

(b) on any application to the court for a direction under this paragraph the court may, if it thinks fit, appoint another person (being a contributory) to fill the vacancy on the committee.”.

Rule 4.54

26.  Paragraphs (2) and (3) shall not apply.

Rule 4.55

27.  In paragraphs (3) and (4), the word “creditor” shall be omitted.