# Insolvency Act 1986, Paragraph 53: Creditors' decision

Extent: E+W+S

(1) The company's creditors may approve the administrator's proposals—
(a) without modification, or
(b) with modification to which the administrator consents.
(2) The administrator shall as soon as is reasonably practicable report any decision taken by the company's creditors to—
(a) the court,
(b) the registrar of companies, and
(c) such other persons as may be prescribed.
(3) An administrator commits an offence if he fails without reasonable excuse to comply with sub-paragraph (2).

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Source: https://www.legislation.gov.uk/ukpga/1986/45/schedule/B1/paragraph/53 (the official version)
Page: https://openlegislation.uk/insolvency-act-1986/schedule-B1/paragraph-53
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.