Companies Act 2016 · Updated to 31 Jan 2025 · Chapter III
369A. Power of Court to order revote
Feedback & supportAt the hearing of an application for the Court’s approval of a compromise or arrangement under subsection 366(4), the Court may order the company to hold another meeting of the creditors or class of creditors for the purpose of putting the compromise or arrangement to a revote subject to such terms as the Court thinks fit.
An order made under subsection (1) may provide for one or more of the following matters:
the manner of summoning and convening the meeting;
the classification of any creditor for the purpose of voting at the further meeting;
the amount of any creditor’s debt that is to be admitted for the purpose of voting at the further meeting;
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the weight to be attached to the vote of any creditor at the further meeting.
A meeting held pursuant to an order of the Court made under subsection (1) shall be chaired by a person who is—
an insolvency practitioner appointed under subsection 367(3); or
a person elected by the majority in value of the creditors or class of creditors or members or class of members, if no insolvency practitioner has been appointed under subsection 367(3).