# The Payment and Electronic Money Institution Insolvency (England and Wales) Rules 2021, Article 113: Approval by the creditors’ committee

Extent: E+W

(1) Where there is a creditors’ committee, the administrator must summon a meeting of that committee to approve the distribution plan.
(2) The administrator must send the proposed distribution plan to each member of the creditors’ committee when sending out notice of the meeting.
(3) The creditors’ committee may approve the distribution plan with or without modification.

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Source: https://www.legislation.gov.uk/uksi/2021/1178/article/113 (the official version)
Page: https://openlegislation.uk/payment-and-electronic-money-institution-insolvency-england-and-wales-rules-2021/article-113
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.