OpenLegislation

Rule 2.57 Termination of membershipF1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

  • rule 4.54(5-CVL) substituted for rule 4.54(5) by Insolvency 2010 Sch. 1 para. 179(5)
(1)

Membership of the creditors' committee is automatically terminated if the member—

(a)

becomes bankrupt F2...; or

(b)

at 3 consecutive meetings of the committee is neither present nor represented (unless at the third of those meetings it is resolved that this Rule is not to apply in his case); or

(c)

ceases to be, or is found never to have been, a creditor.

(2)

However, if the cause of termination is the member’s bankruptcy, his trustee in bankruptcy replaces him as a member of the committee.

Annotations

Textual amendments

F1

Pt. 2 substituted (15.9.2003) by The Insolvency (Amendment) Rules 2003 (S.I. 2003/1730), rule 1(2), Sch. 1 para. 9 (with rule 5(2)-(4))

F2

Words in rule 2.57(1)(a) omitted (1.4.2004) by virtue of The Insolvency (Amendment) Rules 2004 (S.I. 2004/584), rule 1(2), 5