Prospective

THE FIRST GROUP OF PARTSE+W

PART 1E+WCOMPANY VOLUNTARY ARRANGEMENTS

CHAPTER 5E+WPROCEEDINGS ON A PROPOSAL MADE BY THE DIRECTORS, OR BY THE ADMINISTRATOR, OR BY THE LIQUIDATOR

SECTION A: MEETINGS OF COMPANY'S CREDITORS AND MEMBERSE+W

The chairman at meetingsE+W

1.14.—(1) Subject as follows, at both the creditors' meeting and the company meeting, and at any combined meeting, the convener shall be chairman.

(2) If for any reason he is unable to attend, he may nominate another person to act as chairman in his place; but a person so nominated must be either—

(a)a person qualified to act as an insolvency practitioner in relation to the company, or

(b)an employee of the convener or his firm who is experienced in insolvency matters.