SCHEDULE 1Amendments to the Insolvency Rules 1986

Amendments to Rule 3.25

131.—(1) Rule 3.25 (vacancies) is amended as follows.

(2) In paragraph (2), for “the minimum required under Rule 3.16” substitute “3”.

(3) After paragraph (3) add—

(4) Alternatively, a meeting of creditors may resolve that a creditor be appointed (with that creditor’s consent) to fill the vacancy. In this case at least 14 days’ notice must have been given of a resolution to make such an appointment (whether or not of a person named in the notice).

(5) Where the vacancy is filled by an appointment made by a creditors’ meeting at which the receiver is not present, the chairman of the meeting must report to the receiver the appointment which has been made..