Rule 22 Creditors’ meetings generallyI1

This rule applies to creditors’ meetings summoned by the special PPP administrator under section 14(2)(b) of the 1986 Act or pursuant to a direction of the court under section 17(3)(b) of that Act.

In fixing the venue for the meeting, the special PPP administrator shall have regard to the convenience of creditors.

The meeting shall be summoned for commencement between 10.00 and 16.00 hours on a business day, unless the court otherwise directs.

At least 21 days’ notice of the meeting shall be given to all creditors who are known to the special PPP administrator and who had claims against the PPP company at the date of the PPP administration order. The notice in Form PPP15 shall specify the purpose of the meeting and contain a statement of the effect of rule 24(1) (entitlement to vote).

With the notice summoning the meeting there shall be sent forms of proxy in Form PPP24.

If within 30 minutes from the time fixed for the commencement of the meeting there is no person present to act as chairman, the meeting shall stand adjourned to the same time and place in the following week or, if that day is not a business day, to the business day immediately following.

The meeting may from time to time be adjourned, if the chairman thinks fit, but not for more than 14 days from the date on which it was fixed to commence, subject to the direction of the court.

If a meeting is adjourned, the special PPP administrator shall as soon as reasonably practicable notify the creditors of the venue of the adjourned meeting.