# The Payment and Electronic Money Institution Insolvency (England and Wales) Rules 2021, Article 46: Chair at meetings

Extent: E+W

(1) At any meeting of the creditors, the customers, or creditors and customers summoned by the administrator, either the administrator must be the chair, or a person nominated by the administrator in writing to act in the administrator’s place.
(2) A person so nominated must be either—
(a) one who is qualified to act as an insolvency practitioner in relation to the institution, or
(b) an employee of the administrator or the administrator’s firm who is experienced in insolvency matters.
(3) Where the chair holds a proxy which includes a requirement to vote for a particular resolution and no other person proposes that resolution—
(a) the chair must propose it unless the chair considers that there is good reason for not doing so, and
(b) if the chair does not propose it, the chair must as soon as is reasonably practicable after the meeting notify the principal of the reason why not.

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Source: https://www.legislation.gov.uk/uksi/2021/1178/article/46 (the official version)
Page: https://openlegislation.uk/payment-and-electronic-money-institution-insolvency-england-and-wales-rules-2021/article-46
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.