Companies Act 1993

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Schedule 8 Proceedings at meetings of liquidation committees

s 315(3)

1 Frequency of meetings

The committee must meet at such times as it from time to time appoints, and the liquidator or a member of the committee may also call a meeting of the committee as and when necessary.

2 Majorities

The committee may act by a majority of its members present at a meeting, but may not act unless a majority of the committee are present.

3 Resignation

A member of the committee may resign by notice in writing signed by him or her and delivered to the liquidator.

4 Office becoming vacant

If a member of the committee becomes bankrupt, or compounds or arranges with his or her creditors, or is absent from 3 consecutive meetings of the committee without the leave of those members who together with that member represent the creditors or shareholders, as the case may be, the office of that member becomes vacant.

5 Removal of a member

A member of the committee may be removed by a resolution carried at a meeting of creditors if the member represents creditors, or of shareholders if the member represents shareholders, of which 5 working days’ notice has been given, stating the object of the meeting.

6 Vacancy filled

A vacancy in the committee may be filled by the appointment by the committee of—


the same or another creditor or shareholder, as the case may be; or


a person holding a general power of attorney from, or being an authorised director or representative of, a company which is a creditor or shareholder, as the case may be.

Schedule 8 clause 6(b): amended, on 1 July 1994, by section 50 of the Companies Act 1993 Amendment Act 1994 (1994 No 6).

7 Committee with vacancy may act

The continuing members of the committee, if not less than 2, may act even though a vacancy exists in the committee.