PART 10CREDITORS’ AND LIQUIDATION COMMITTEES
CHAPTER 3Membership and formalities of formation of a committee
Liquidation committee established by contributories10.6
1
This rule applies where, under section 142, the creditors do not decide that a liquidation committee should be established, or decide that a committee should not be established.
2
The contributories may decide to appoint one of their number to make application to the court for an order requiring the liquidator to seek a further decision from the creditors on whether to establish a liquidation committee; and—
a
the court may, if it thinks that there are special circumstances to justify it, make such an order; and
b
the creditors’ decision sought by the liquidator in compliance with the order is deemed to have been a decision under section 142.
3
If the creditors decide under paragraph (2)(b) not to establish a liquidation committee, the contributories may establish a committee.
4
The committee must then consist of at least 3, and not more than 5, contributories elected by the contributories; and rule 10.5 applies, substituting for the reference to rule 10.3 in rule 10.5(8) a reference to this paragraph.