(TITLE OF PROCEEDINGS.) of , a creditor in the above matter for the sum of £ , hereby request the official receiver for the said estate to record my vote acceptance of the proposal as set forth in the report against of the official receiver hereto annexed, and against anyamendment thereof or for which shall, in the opinion of the official receiver, be calculated to benefit the general body of the creditors.
Dated this day of 19—, Signatur© of witness. 1 (Signature of creditor.) Address of do. f A similar form to the above is usually sent to the creditors, together with the notice of the meeting, and it may lie modified to meet a case where a person other than the official receiver is intended to be appointed. A proxy cannot be used unless it is deposited with the official receiver or trustee before the meeting at which it is to be used.
No solicitation may be used by, or on behalf of, a trustee or receiver in obtaining proxies, or in procuring the trusteeship or receivership, except by the direction of a meeting of creditors. In cases of such solicitation, the Court has power to order that no remuneration shall be allowed to the person by whom or on whose behalf the solicitation has been exercised, not withstanding any resolution of the committee of inspection or of the creditors to the contrary. No person acting either under a general or special proxy may vote in favour of any resolution which would directly or indirectly place himself, his partner or employer, in a position to receive any remuneration out of the estate of the debtor otherwise than as a creditor rateable with the other creditors. But where any person holds special proxies to vote for the appointment of himself as trustee he may use such proxies, and vote accordingly.
Quorum and adjournment.—The chairman may, with the consent of the meeting, adjourn the meeting from time to time, and from place to place. The meeting will no be competent to act for any purpose, except the election of a chair n, the proving of debts, and the adjournment of the meeting, unless there are preseni, or represented at the meeting, at least three creditors, or all the creditors if their number does not exceed three. The chairman should cause minutes of the proceedings at the meeting to be drawn up, and entered in a book to be for that purpose, sand minutes must be signed either by himself or by the chairman of the next meeting. If, within half-an-hour from the time appointed for the meeting, three creditors—the number composing a quorum—are not present or repre sented, the meeting must be adjourned to the same day in the following week, at the same time and place, or to such other day as the chairman may appoint; but the interval of the adjournment must not be less than seven or more than twenty-one days.
Bultineis and a meeting of creditors the wishes of the meeting are expressed by passing resolutions, which may be either ordinary or special. An ordinary resolution is one decided upon and passed by the votes of a majority in value of the creditors present or represented by proxy. A special resolution is one decided upon and passed by the votes of a majority in number and three-fourths in value of such present or represented creditors. By ordinary resolution, the creditors may resolve to adjudge the debtor a bankrupt, and they may appoint some fit person, whether a creditor or not, to the office of trustee of the bankrupt's property. As to the duties and position generally of a person filling this important position, see under the heading TRUSTEE IN BANKRUPTCY.
By special resolution, the creditors may accept a proposal by the debtor for a composition, or a scheme for the arrangement of his affairs.
Committee of Inspection.—A committee under this name, formed for the purpose of superintending the trustee's administration of the bankrupt's property, may be appointed at either the first or any subsequent meeting of creditors. The appointment is made by way of ordinary resolution, voted upon only by creditors fully qualified to vote. Any creditor, whether qualified to vote or not, may be a member of the committee; but if not qualified, a creditor so appointed cannot act until he has proved his debt, and the proof has been admitted. The number of the committee may not be more than five nor less than three. Membership may be resigned by notice in writing; or will be vacated if the member becomes bankrupt, or compounds or arranges with his creditors, or is absent from five consecutive meetings of the com mittee ; or may be rescinded by an ordinary resolution at any meeting of creditors, of which seven days' notice has been given, stating the object of the meeting. In case of vacancy, the trustee will at once call a meeting, by which the vacancy may be filled up, though meanwhile the committee may continue to act, so long as its membership is not reduced below two. In the absence of a committee, the Board of Trade, or the official receiver, may exercise its functions.