SCHEDULES
SCHEDULE 9Abolition of requirements to hold meetings; opted-out creditors
PART 2Individual insolvency
Bankruptcy
I1I277
1
Section 298 (trustee's vacation of office) is amended as follows.
2
In subsection (1), for “general meeting of the bankrupt's creditors summoned” substitute “decision of the bankrupt's creditors made by a creditors' decision procedure instigated”.
3
In subsection (4)—
a
for “general meeting of the bankrupt's creditors shall be summoned” substitute “creditors' decision procedure may be instigated”;
b
for “replacing” substitute “
removing
”
;
c
in paragraph (c)—
i
omit “the meeting is requested by”;
ii
after “bankrupt's creditors” insert “
so requests,
”
.
4
After subsection (4) insert—
4A
Where the bankrupt's creditors decide to remove a trustee, they may in accordance with the rules appoint another person as trustee in his place.
4B
Where the decision to remove a trustee is made under subsection (4), the decision does not take effect until the bankrupt's creditors appoint another person as trustee in his place.
5
In subsection (8), for the words from “a final” to the end substitute “
the trustee has given notice under section 331(2).
”
6
After subsection (8) insert—
8A
A notice under subsection (8)—
a
must not be given before the end of the period prescribed by the rules as the period within which the bankrupt's creditors may object to the trustee's release, and
b
must state whether any of the bankrupt's creditors objected to the trustee's release.