Insolvency Practice Rules (Bankruptcy) 2016
75‑110 Voting on resolutions75‑110 Voting on resolutions
Start here
Get a plain-English read of 75‑110 Voting on resolutions
Turn the raw legal text into a practical explanation grounded in Insolvency Practice Rules (Bankruptcy) 2016.
75‑110 Voting on resolutions
(1) A resolution put to the vote at a meeting is to be decided: (a) if a poll is requested by the trustee or a person participating and entitled to vote at the meeting—by a poll; or (b) otherwise—on the voices. (2) Unless a poll is requested, the trustee must declare that a resolution has been: (a) passed; or (b) passed unanimously; or (c) passed by a particular majority; or (d) lost; on the voices. (3) If a poll is requested: (a) the poll must be taken immediately; and (b) the trustee may determine the manner in which the poll is to be taken. (4) For the purposes of determining whether a resolution put to the meeting is passed, the value of a creditor who: (aa) is a related entity of the regulated debtor; and (a) has been assigned a debt; is to be worked out by taking the value of the assigned debt to be equal to the value of the consideration that the creditor gave for the assignment of the debt.