Article 29 Meeting following nomination of alternative liquidatorI1

Where under Rules F116(1)(l) or 34(1)(h), the postal administrator has proposed that the company enter creditors’ voluntary liquidation once the postal administration has ended, the postal administrator shall, in the circumstances detailed in paragraph (2), summon a meeting of creditors for the purpose of nominating a person other than the person named as proposed liquidator in the postal administrator’s proposals or revised proposals.

The postal administrator shall summon a meeting of creditors where such a meeting is requested by creditors of the company whose debts amount to at least 10 per cent of the total debts of the company.

A request for such a meeting shall be made within 21 days of the date on which the postal administrator’s statement of proposals is sent out, or where revised proposals have been sent out and a proposed revision relates to the ending of the postal administration by a creditors’ voluntary liquidation, within 21 days from the date on which the revised statement of proposals is sent out.

A request under this Rule shall include—

but sub-paragraph (a) does not apply if the requesting creditor’s debt is alone sufficient without the concurrence of other creditors.

A meeting requested under this Rule shall be held within 21 days of the postal administrator’s receipt of the notice requesting the meeting.