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The Postal Administration (Scotland) Rules 2016
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Entitlement to vote and draw dividendS
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39.—(1) A creditor who has had a claim accepted in whole or in part by the postal administrator or on appeal under [F1Rule 40(5)] shall be entitled—
(a)in a case where the acceptance is under (or on appeal arising from) [F2Rule 40(1)], to vote on any matter at the meeting of creditors for the purpose of voting at which the claim is accepted; and
(b)in a case where the acceptance is under (or on appeal arising from) [F3Rule 40(2)], to payment out of the assets of the company of a dividend in respect of the distribution for the purposes of which the claim is accepted; but such entitlement to payment shall arise only in so far as the company has funds available to make that payment, having regard to [F3Rule 47], and payment would be consistent with the power and duties of the postal administrator.
(2) Votes are calculated according to the amount of a creditor’s debt as at the date on which the company entered postal administration, deducting any amount paid in respect of that debt after that date.
(3) No vote shall be cast by virtue of a debt more than once on any resolution put to the meeting.
(4) Any reference in this Part to the postal administrator includes, where applicable, a reference to the chair of the meeting.
Textual Amendments
F1Words in rule 39(1) substituted (13.4.2017) by The Postal Administration (Scotland) (Amendment) Rules 2017 (S.I. 2017/441), rules 1, 2(11)
F2Words in rule 39(1)(a) substituted (13.4.2017) by The Postal Administration (Scotland) (Amendment) Rules 2017 (S.I. 2017/441), rules 1, 2(11)
F3Words in rule 39(1)(b) substituted (13.4.2017) by The Postal Administration (Scotland) (Amendment) Rules 2017 (S.I. 2017/441), rules 1, 2(11)
Commencement Information
I1Rule 39 in force at 1.10.2016, see rule 1
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