PART 6Objective 1
CHAPTER 2Distribution plan
Approval by the creditors’ committee113.
(1)
Where there is a creditors’ committee, the administrator must summon a meeting of that committee to approve the distribution plan.
(2)
The administrator must send the proposed distribution plan to each member of the creditors’ committee when sending out notice of the meeting.
(3)
The creditors’ committee may approve the distribution plan with or without modification.