7. Conduct of the meeting

(1) The external manager is to preside at a meeting convened under this rule.

(2) Such a meeting may be adjourned from time to time at the discretion of the external manager, but may not be adjourned to a day more than 30 days after the first day on which the meeting was held.

(3) If a person, or a person’s proxy, who wishes to participate in a meeting by means of telephone conference facilities, has given the external manager a statement in accordance with subparagraph 6 (3) (b) (ii), the external manager must take all reasonable steps to ensure that the person, or the person’s proxy, is contacted before the start of the meeting on the telephone number provided by that person.

(4) The external manager must also take all reasonable steps to ensure that the person or proxy can hear the proceedings, and can be heard, by means of those facilities.

(5) A person who, or whose proxy, participates in the meeting by telephone under this rule is taken to be present in person at the meeting.

(6) A quorum for the meeting consists of:

1. if the number of persons entitled to vote exceeds 2 – at least 2 of those persons; or
2. if only one person is, or 2 persons are, entitled to vote – that person or those persons,

present in person or by proxy.

(7) A meeting may be held if all the persons who are entitled to attend, and to vote at, the meeting agree, even if it has not been convened in accordance with these Rules.

(8) If, within 30 minutes after the time appointed for a meeting:

1. a quorum is not present; or
2. the meeting is not otherwise sufficiently constituted,

the meeting is adjourned:

1. to the same day in the next week, at the same time and place; or
2. to the day (not being less than 7 or more than 21 days after the day on which the meeting is adjourned) and at the time and place that the external manager thinks are most convenient for the majority of persons entitled to attend the meeting.

(9) The external manager must, without delay, give written notice of the adjournment to the persons to whom notice of the meeting must be given under rule 6.

(10) If within 30 minutes after the time appointed for the adjourned meeting:

1. a quorum is not present; or
2. the meeting is not otherwise sufficiently constituted,
3. the adjourned meeting lapses.

(11) A resolution is carried if:

1. a majority of the creditors voting (whether in person or by proxy) vote in favour of the resolution; and