SCHEDULES

SCHEDULE 9Abolition of requirements to hold meetings; opted-out creditors

PART 1Company insolvency

Winding-up

I132

1

Section 137 (appointment by Secretary of State) is amended as follows.

2

In subsection (2)—

a

for “meetings are held” substitute “ nominations are sought from the company's creditors and contributories ”;

b

omit “of those meetings”.

3

In subsection (5), for the words from “shall” to the end substitute “ must explain the procedure for establishing a liquidation committee under section 141. ”