Section 5: Voting
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.
5. Voting
(1) At any meeting of creditors or a class of creditors, not being a meeting
held for the purposes of subparagraph (2), a resolution is adopted where a majority in number and value of the creditors or the class of creditors voting in person
or by proxy vote in favour of the resolution.
(2) At any meeting of creditors or a class of creditors held for the purposes
of section 152, or otherwise required to be passed as a special resolution, a special resolution is adopted where a majority in number representing 75 per cent in
value of the creditors or class of creditors voting in person or by proxy vote in
favour of the resolution.
(3) A creditor chairing the meeting does not have a casting vote.