Section 9
Section 366 of the principal Act is amended—
of Companies (Amendment) Act 2024
(a)
by substituting for subsection (1) the following subsection:
“(1) The Court may order a meeting in a summary way to be summoned in such manner as the Court directs on an application to the Court for the approval of a compromise or arrangement by—
(a)
a company;
(b)
a creditor or class of creditors of a company;
(c)
a member or class of members of a company;
(d)
a liquidator, if a company is being wound up;
or
(e)
a judicial manager, if a company is under judicial management.”; and
(b)
by inserting after subsection (2) the following subsection:
“(2a) All meetings held pursuant to an order of the Court made under subsection (1) shall be chaired by a person who is—
(a)
an insolvency practitioner appointed under subsection 367(3); or
(b)
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).”.