Rule 6.086 Resolutions

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 7. 13B(2) word omitted by Insolvency 2023 rule 37(1)

(1)

Subject to paragraphs (2), (4) and (5), at a meeting of creditors, a resolution is passed when a majority (in value) of those present and voting, in person or by proxy, have voted in favour of the resolution.

(2)

In the case of a resolution for the appointment of a trustee—

(a)

if on any vote there are two nominees for appointment, the person who obtains the more support is appointed if such support represents a majority in value of all those present (in person or by proxy) at the meeting and entitled to vote;

(b)

if there are three or more nominees, and one of them has a clear majority over both or all the others together, that one is appointed; and

(c)

in any other case the chairman shall continue to take votes (disregarding at each vote any nominee who has withdrawn and, if no nominee has withdrawn, the nominee who obtained the least support last time), until a clear majority is obtained for any one nominee.

(3)

The chairman may at any time put to the meeting a resolution for the joint appointment of any two or more nominees.

(4)

Where a resolution is proposed which affects a person in respect of his remuneration or conduct as trustee, or as proposed or former trustee, the vote of that person, and of any partner or employee of his, shall not be reckoned in the majority required for passing the resolution.

(5)

Paragraph (4) applies with respect to a vote given by a person (whether personally or on his behalf by a proxy-holder) either as creditor or as proxy-holder for a creditor (but subject to Rule 8.6).

[E.R.6.88]