{
  "url": "https://openlegislation.uk/insolvency-act-1986/section-434B",
  "json_url": "https://openlegislation.uk/insolvency-act-1986/section-434B.json",
  "legislation": "ukpga/1986/45",
  "legislation_title": "Insolvency Act 1986",
  "legislation_url": "https://openlegislation.uk/insolvency-act-1986",
  "path": "section/434B",
  "kind": "section",
  "number": "434B",
  "heading": "Representation of corporations in decision procedures and at meetings",
  "text": "(1) If a corporation is a creditor or debenture-holder, it may by resolution of its directors or other governing body authorise a person or persons to act as its representative or representatives—\n(a) in a qualifying decision procedure, held in pursuance of this Act or of rules made under it, by which a decision is sought from the creditors of a company, or\n(b) at any meeting of a company held in pursuance of the provisions contained in a debenture or trust deed.\n(2) Where the corporation authorises only one person, that person is entitled to exercise the same powers on behalf of the corporation as the corporation could exercise if it were an individual creditor or debenture-holder.\n(3) Where the corporation authorises more than one person, any one of them is entitled to exercise the same powers on behalf of the corporation as the corporation could exercise if it were an individual creditor or debenture-holder.\n(4) Where the corporation authorises more than one person and more than one of them purport to exercise a power under subsection (3)—\n(a) if they purport to exercise the power in the same way, the power is treated as exercised in that way;\n(b) if they do not purport to exercise the power in the same way, the power is treated as not exercised.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 17A inserted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 3(1), Sch. 1 para. 105 (with arts. 6,11, 12)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 434B(1)(a) substituted (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force, 6.4.2019 for S. in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 9 para. 57(2); S.I. 2015/1329, reg. 3(d); S.I. 2016/1020, reg. 4(e) (with reg. 5) (as amended by S.I. 2017/363, reg. 3); S.I. 2019/816, reg. 4(c) (with reg. 5)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 434B heading inserted (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force, 6.4.2019 for S. in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 9 para. 57(2); S.I. 2015/1329, reg. 3(d); S.I. 2016/1020, reg. 4(e) (with reg. 5) (as amended by S.I. 2017/363, reg. 3); S.I. 2019/816, reg. 4(c) (with reg. 5)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Ss. 434B-434D applied (with modifications) (8.7.2021) by The Payment and Electronic Money Institution Insolvency Regulations 2021 (S.I. 2021/716), regs. 2, 37 (with reg. 5) (as amended (4.1.2024) by S.I. 2023/1399, regs. 1(2), 4, 11)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1986/45/section/434B",
    "retrieved_at": "2026-10-29T09:55:00.443447+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}