Section 241: Proposed deed not fully approved
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
241. Proposed deed not fully approved
(1) Where at a watershed meeting, the creditors resolve that the company execute a deed of company arrangement, but the proposed deed is not
fully approved at the meeting, the administrator shall take the steps set out
in section 262.
(2) The administrator shall inform the creditors at the watershed meeting
that—
(a) they have the right to inspect and comment on the draft deed;
and
(b) the administrator has the ultimate responsibility for drafting the
deed and the executed deed may differ from the draft.
Section D – Protection of company property