Insolvency Practice Rules (Bankruptcy) 2016
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Insolvency Practice Rules (Bankruptcy) 2016
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(1) The trustee must invite the persons participating and entitled to vote at a meeting to propose any relevant resolutions. (2) The only persons who may propose resolutions, or amendments of proposed resolutions, at a meeting are: (a) the trustee; and (b) the persons participating and entitled to vote at the meeting. (3) A proposed resolution or amendment does not need to be seconded. (4) If a resolution is proposed, the trustee must allow a reasonable time for debate on the proposed resolution and on any amendment to the proposed resolution. (5) After a reasonable time for debate has elapsed, the trustee must: (a) if no amendment has been proposed—put the proposed resolution to a vote; or (b) if an amendment or amendments have been proposed, put the amendment or amendments to a vote; and (i) if the amendment or amendments are defeated—put the resolution as originally proposed to a vote; or (ii) if an amendment or amendments are passed—put the proposed resolution as amended to a vote.