Rule 72 Creditors’ committee members’ representativesI1

Scotland

(1)

A member of the creditors’ committee may, in relation to the business of the creditors’ committee, be represented by another person duly authorised by the member for that purpose.

(2)

A person acting as a representative of a creditors’ committee member must hold a letter of authority entitling them so to act (either generally or specially) and authenticated by or on behalf of the creditors’ committee-member.

(3)

For the purpose of paragraph (2), any proxy in relation to any meeting of creditors, or customers, or creditors and customers must, unless it contains a statement to the contrary, be treated as a letter of authority to act generally, authenticated by or on behalf of the creditors’ committee-member.

(4)

The chair at any meeting of the creditors’ committee may call on a person claiming to act as a creditors’ committee-member’s representative to produce the letter of authority, and may exclude that person if it appears that their authority is deficient.

(5)

No member may be represented by—

(a)

another member of the creditors’ committee,

(b)

a person who is at the same time representing another creditors’ committee member,

(c)

a body corporate,

(d)

an undischarged bankrupt,

(e)

a disqualified director,

(f)

a person whose estate has been sequestrated and who has not been discharged,

(g)

a person who has granted a trust deed for the benefit of creditors,

(h)

a person who has made a composition with creditors,

(i)

a person to whom a moratorium period under a debt relief order applies,

(j)

a person who is subject to a bankruptcy restrictions order (including an interim order), a bankruptcy restrictions undertaking, a debt relief restrictions order (including an interim order) or a debt relief restrictions undertaking.

(6)

Where a member’s representative authenticates any document on the member’s behalf, the fact that the representative so authenticates must be stated below the authentication.

Annotations

Commencement

I1: Rule 72 in force at 19.12.2022, see rule 2