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The Postal Administration Rules 2013

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Quorum at meeting of creditors

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173.—(1) Any meeting of creditors in postal administration proceedings is competent to act if a quorum is present.

(2) Subject to the next paragraph, a quorum is at least one creditor entitled to vote.

(3) For the purposes of this Rule, the reference to the creditor necessary to constitute a quorum is to those persons present or represented by proxy by any person (including the chair) and includes corporations duly represented.

(4) Where at any meeting of creditors—

(a)the provisions of this Rule as to a quorum being present are satisfied by the attendance of—

(i)the chair alone, or

(ii)one other person in addition to the chair, and

(b)the chair is aware, by virtue of proofs and proxies received or otherwise, that one or more additional persons would, if attending, be entitled to vote,

the meeting must not commence until at least the expiry of 15 minutes after the time appointed for its commencement.

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