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The Insolvency (Amendment) (No. 2) Rules 2002
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- UK Statutory Instruments
- 2002 No. 2712
- SCHEDULE
- PART 1
- Paragraph 1.21
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Substitution of Rule 1.21
1.21.—(1) If the chairman thinks fit, the creditors' meeting and the company meeting may be held together.
(2) The chairman may, and shall if it is so resolved at the meeting in question, adjourn that meeting for not more than 14 days.
(3) If there are subsequently further adjournments, the final adjournment shall not be to a day later than 14 days after the date on which the meeting in question was originally held.
(4) In the case of a proposal by the directors, if the meetings are adjourned under paragraph (2), notice of the fact shall be given by the nominee forthwith to the court.
(5) If following the final adjournment of the creditors' meeting the proposal (with or without modifications) has not been approved by the creditors, it is deemed rejected.”.
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