Paragraph 3 I1I2I3
Section 3 (summoning of meetings) is amended as follows.
In subsection (1)—
for the words from “that” to “summoned” substitute “ under section 2(2) that the proposal should be considered by a meeting of the company and by the company's creditors ”;
for the words from “directs)” to the end substitute
“directs)—
(a)summon a meeting of the company to consider the proposal for the time, date and place proposed in the report, and
(b)seek a decision from the company's creditors as to whether they approve the proposal.”
In subsection (2), for the words from “shall” to the end substitute
“shall—
(a)summon a meeting of the company to consider the proposal for such time, date and place as he thinks fit, and
(b)seek a decision from the company's creditors as to whether they approve the proposal.”
For subsection (3) substitute—
“(3)A decision of the company's creditors as to whether they approve the proposal is to be made by a qualifying decision procedure.
(4)Notice of the qualifying decision procedure must be given to every creditor of the company of whose claim and address the person seeking the decision is aware.”
For the heading substitute “ Consideration of proposal ”.
Annotations
Commencement
- I1
Sch. 9 para. 3 in force at 26.5.2015 for specified purposes by S.I. 2015/1329, reg. 3(d)
- I2
Sch. 9 para. 3 in force at 6.4.2017 for E.W. in so far as not already in force by S.I. 2016/1020, reg. 4(e) (with reg. 5) (as amended by S.I. 2017/363, reg. 3)
- I3
Sch. 9 para. 3 in force at 6.4.2019 for S. in so far as not already in force by S.I. 2019/816, reg. 4(c) (with reg. 5)