Individual voluntary arrangements
This section has no associated Explanatory Notes
66(1)Section 259 (report of decisions to court) is amended as follows.
(2)For subsection (1) substitute—
“(1)When pursuant to section 257 the debtor’s creditors have decided whether to approve the debtor’s proposal (with or without modifications), the nominee (or the nominee’s replacement under section 256(3) or 256A(4)) must—
(a)give notice of the creditors’ decision to such persons as may be prescribed, and
(b)where the creditors considered the debtor’s proposal pursuant to a report to the court under section 256(1)(aa), report the creditors’ decision to the court.”
(3)In subsection (2), for “meeting has” substitute “creditors have”.