SCHEDULES
SCHEDULE 9Abolition of requirements to hold meetings; opted-out creditors
PART 2Individual insolvency
Individual voluntary arrangements
I1I267
1
Section 260 (effect of approval) is amended as follows.
2
In subsection (1) for “the meeting summoned under section 257 approves” substitute “
pursuant to section 257 the debtor's creditors decide to approve
”
.
3
In subsection (2)—
a
in paragraph (a) for “at the meeting” substitute “
at the time the creditors decided to approve the proposal
”
;
b
in paragraph (b)(i) for the words from “at the” to “it)” substitute “in the creditors' decision procedure by which the decision to approve the proposal was made”.
4
In subsection (4) for “meeting” substitute “
decision
”
.