- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
54.—(1) A meeting of creditors called or summoned by a special administrator is competent to act if a quorum is present.
(2) One creditor entitled to vote is a quorum.
(3) For the purposes of this rule, the reference to the creditor necessary to constitute a quorum is to those persons present or represented by proxy by any person (including the chair) and includes persons duly represented under section 323 (representation of corporations at meetings) of the Companies Act 2006(1) as applied by rule 67.
(4) If at a meeting of creditors—
(a)a quorum is present because only the person presiding at the meeting, or that person and one other person, are present, and
(b)the person presiding is aware, because of proofs and proxies received or otherwise, that an additional person or persons would, if attending, be entitled to vote,
the meeting must not commence until at least 15 minutes after the time appointed for its commencement.
(5) In this rule “proof” means a document in which a creditor seeks to establish a claim.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: