Requisite majorities (rule 15.34)
This section has no associated Explanatory Memorandum
132. Rule 15.34 has effect as if for that rule there were substituted—
“Requisite majorities
15.34.—(1) A decision is made by creditors when a majority (in value) of those voting have voted in favour of the proposed decision, except where this rule provides otherwise.
(2) A decision is not made if those voting against it include more than half in value of the creditors to whom notice of the decision procedure was delivered who are not, to the best of the special administrator’s or chair’s belief, persons connected with the company.”.