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Rule 5.25 Resolutions to follow approvalF1

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)

If the voluntary arrangement is approved (with or without modifications), a resolution may be taken by the creditors, where two or more individuals are appointed to act as supervisor, on the question whether acts to be done in connection with the arrangement may be done by any one of them, or must be done by both or all.

(2)

If at the creditors' meeting a resolution is moved for the appointment of some person other than the nominee to be supervisor of the arrangement, there must be produced to the chairman, at or before the meeting—

(a)

that person’s written consent to act (unless he is present and then and there signifies his consent), and

(b)

his written confirmation that he is qualified to act as an insolvency practitioner in relation to the debtor or is an authorised person in relation to the debtor.

Annotations

Textual amendments

F1

Pt. 5 substituted (1.1.2003) by The Insolvency (Amendment) (No. 2) Rules 2002 (S.I. 2002/2712), rule 1(1), Sch. para. 24 (with rule 3(2))