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THE FIRST GROUP OF PARTSE+W

PART 2E+WADMINISTRATION PROCEDURE

CHAPTER 4E+WTHE CREDITORS' COMMITTEE

Constitution of committeeE+W

2.32.—(1) Where it is resolved by a creditors' meeting to establish a creditors' committee for the purposes of the administration, the committee shall consist of at least 3 and not more than 5 creditors of the company elected at the meeting.

(2) Any creditor of the company is eligible to be a member of the committee, so long as his claim has not been rejected for the purpose of his entitlement to vote.

(3) A body corporate may be a member of the committee, but it cannot act as such otherwise than by a representative appointed under Rule 2.37 below.

Commencement Information

I1Rule 2.32 in force at 29.12.1986, see rule 0.1