Rule 3.17 Formalities of establishmentI1

The creditors' committee does not come into being, and accordingly cannot act, until the administrative receiver has issued a certificate 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 receiver’s certificate of the committee’s due constitution shall not issue unless and until at least 3 of the persons who are to be members of the committee have agreed to act.

As and when the others (if any) agree to act, the receiver shall issue an amended certificate.

[FORM 3.4] The certificate, and any amended certificate, shall be sent by the receiver to the registrar of companies.

[FORM 3.5] If, after the first establishment of the committee, there is any change in its membership, the receiver shall report the change to the registrar of companies.