Article 157 Quorum at meeting of creditorsI1

England and Wales

(1)

Any meeting of creditors in energy administration proceedings is competent to act if a quorum is present.

(2)

Subject to the next paragraph, a quorum is at least one creditor entitled to vote.

(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 chairman) and includes persons duly represented under section 375 of the Companies Act.

(4)

Where at any meeting of creditors—

(a)

the provisions of this Rule as to a quorum being present are satisfied by the attendance of—

(i)

the chairman alone, or

(ii)

one other person in addition to the chairman, and

(b)

the chairman is aware, by virtue of proofs and proxies received or otherwise, that one or more additional persons would, if attending, be entitled to vote,

the meeting shall not commence until at least the expiry of 15 minutes after the time appointed for its commencement.

Annotations

Commencement

I1: Rule 157 in force at 1.10.2005, see rule 1