123 Abolition of requirements to hold meetings: individual insolvency
Small Business, Enterprise and Employment Act 2015 (2015 c 26) | Legislation

123  Abolition of requirements to hold meetings: individual insolvency

(1)     The Insolvency Act 1986 is amended as follows.

(2)     After section 379 insert—

“Creditors' decisions

379ZA Creditors' decisions: general

(1)     This section applies where, for the purposes of this Group of Parts, a person (“P”) seeks a decision from an individual's creditors about any matter.

(2)     The decision may be made by any creditors' decision procedure P thinks fit, except that it may not be made by a creditors' meeting unless subsection (3) applies.

(3)     This subsection applies if at least the minimum number of creditors request in writing that the decision be made by a creditors' meeting.

(4)     If subsection (3) applies, P must summon a creditors' meeting.

(5)     Subsection (2) is subject to any provision of this Act, the rules or any other legislation, or any order of the court—

(a)     requiring a decision to be made, or prohibiting a decision from being made, by a particular creditors' decision procedure (other than a creditors' meeting);

(b)     permitting or requiring a decision to be made by a creditors' meeting.

(6)     Section 379ZB provides that in certain cases the deemed consent procedure may be used instead of a creditors' decision

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