Section 262: Procedure if deed not fully approved

262. Procedure if 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— (a) the administrator shall draft the complete deed and circulate it to the creditors within 14 days after the meeting; (b) the creditors may inspect the deed for a period of 3 days (not including any Saturday or public holiday) after the end of the period specified in paragraph (a); and (c) the company and the administrator shall execute the deed within 2 working days after the end of the period specified in paragraph (b). [Issue 5] I14 – 148 Revised Laws of Mauritius (2) The Court may extend the period referred to in subsection (1) (a) by up to 10 working days, on an application by the administrator, but only if the application is made within that period. (3) The Court may extend the period referred to in subsection (1) (c) by up to 2 days (not including any Saturday or public holiday) on an application by the administrator, but only if the application is made within that period.