Rule 2.51 Formalities of establishmentF1

The creditors' committee does not come into being, and accordingly cannot act, until the administrator has issued a certificate in [FORM 3.3]Form 2.26B of its due constitution.

No person may act as a member of the committee unless and until he has agreed to do so and, unless the relevant proxy or authorisation contains a statement to the contrary, such agreement may be given by his proxy-holder or representative under section 375 of the Companies Act present at the meeting establishing the committee.

The administrator’s certificate of the committee’s due constitution shall not be issued unless and until at least 3 of the persons who are to be members of the committee have agreed to act and shall be issued as soon as reasonably practicable thereafter.

As and when the others (if any) agree to act, the administrator shall issue an amended certificate in Form 2.26B.

The certificate, and any amended certificate, shall be filed with the court and a copy sent to the registrar of companies by the administrator, as soon as reasonably practicable.

If after the first establishment of the committee there is any change in its membership, the administrator shall as soon as reasonably practicable report the change to the court and the registrar of companies in [FORM 8.3]Form 2.27B.