Rule 3.17 Formalities of establishment

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

rules 11.01-11.13 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rule 6(10)-CP(3) substituted by Insolvency 2000 rule 5
rule 4.056-CVL(2) words inserted by Insolvency 2006 Sch. 1 para. 22
rule 4.228A-4.228E inserted by Insolvency 2008 rule 5
rules 2.028-2.110 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 2.114-2.115 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 2.119-2.130 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 4.027-4.029 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 4.031-4.034 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 4.197-4.204 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 7.05-7.07 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 7.09-7.14 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 7.19-7.22 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 7.24-7.30 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 7.34-7.42 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 7.50-7.54 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 12.01-12.22 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rule 3.17(2) text amended by Insolvency 2009 rule 8(1)
rule 7. 13B(2) word omitted by Insolvency 2023 rule 37(1)

(1)

The creditors' committee does not come into being, and accordingly cannot act, until the administrative receiver has issued a certificate of its due constitution.

(2)

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 Article 383 of the Companies Order present at the meeting establishing the committee.

(3)

The administrative receiver's certificate of the committee's due constitution shall not issue unless and until at least three of the persons who are to be members of the committee have agreed to act.

(4)

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

(5)

The certificate, and any amended certificate, shall be sent by the administrative receiver to the registrar.FORM 3.06

(6)

If, after the first establishment of the committee, there is any change in its membership, the administrative receiver shall report the change to the registrar.FORM 3.07

[E.R.3.17]