Rule 30 Resolutions and minutesI1

Subject to paragraph (2), at a creditors’ meeting in PPP administration proceedings, a resolution is passed when a majority (in value) of those present and voting, in person or by proxy, have voted in favour of it.

Any resolution is invalid if those voting against it include more than half in value of the creditors to whom notice of the meeting was sent and who are not, to the best of the chairman’s belief, persons connected with the PPP company.

The chairman of the meeting shall cause minutes of its proceedings to be entered in the PPP company’s minute book.

The minutes shall include a list of the creditors who attended (personally or by proxy).

In this rule, “connected with the PPP company” has the same meaning as the phrase “connected with a company” in section 249 of the 1986 Act.