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49.—(1) Where the administrator calls a meeting of members of the institution, the administrator must fix a venue for it having regard to the convenience of the members of the institution.
(2) The chair of the meeting must be the administrator or a person nominated by the administrator in writing to act in the administrator’s place.
(3) A person so nominated must be—
(a)one who is qualified to act as an insolvency practitioner in relation to the institution, or
(b)an employee of the administrator or the administrator’s firm who is experienced in insolvency matters.
(4) If within 30 minutes after the time fixed for commencement of the meeting there is no person present to act as chair, the meeting stands adjourned to the same time and place in the following week or, if that is not a business day, to the business day immediately following.
(5) Subject to anything to the contrary in the Regulations and these Rules, the meeting must be called and conducted in accordance with the law of Scotland, including any applicable provision in or made under CA 2006.
(6) The chair of the meeting must ensure that minutes of its proceedings are entered in the institution’s minute book and a copy placed in the sederunt book.
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