Bankruptcy Act - Australia

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the Official Receiver; and

      (d) the trustee to whom the certificate is given must keep it and allow the bankrupt, a creditor or an authorised employee to inspect it at any reasonable time.

      (6) If a motion is passed or defeated on the voices, the minutes must record that fact and, if a person who voted against a motion that was passed on the voices asks that the person’s dissent be recorded in the minutes, that dissent must be so recorded.

      (7) The minutes must record the value of each creditor’s debt and the total value of the debts of all the creditors.

      (8) If a poll is taken on a motion, the minutes must record:

      (a) the number and names of the creditors (if any) who voted in favour of the motion and the total value of their debts; and

      (b) the number and names of the creditors (if any) who voted against the motion and the total value of their debts; and

      (c) the number and names of the creditors (if any) who abstained from voting on the motion and the total value of their debts.

      (9) A reference in this section to the value of a creditor’s debt is, if the creditor is a secured creditor, a reference to the value of that debt after deducting the value of the security as estimated by the creditor in the statement given by the creditor to the trustee under section 64D.

      (10) The minutes must be dated, and be signed by the President and the minutes secretary, not later than 14 days after the date of the meeting.

      64ZA Entitlement to vote

      (1) This section applies to voting:

      (a) at an election under section 64P of a person to preside at a meeting; and

      (b) on any motion proposed at a meeting or an amendment proposed to such a motion.

      (2) In this section:

      creditor means a creditor who, or whose proxy or attorney, participates in the meeting in person or by telephone.

      (3) A person other than a creditor is not entitled to vote.

      (4) Subject to subsections (5) and (6), each creditor is entitled to vote and has one vote.

      (5) If a creditor is a secured creditor, the creditor is not entitled to vote unless the debt, or the total amount of the debts, owed to the creditor exceeds the amount estimated by the creditor in the statement given to the trustee under section 64D to be the value of the security.

      (6) A creditor who has failed to give to the trustee a statement in accordance with section 64D is not entitled to vote.

      (7) A creditor is not disqualified from voting merely because the creditor is the President or the minutes secretary.

      (8) The trustee may determine any question that arises as to the entitlement of a person to vote.

      (9) If the trustee needs a period in which to determine a question referred to in subsection (8), the meeting is to be adjourned to such time, date and place as the meeting resolves, being a date not later than 14 days after the date of the original meeting, for the purpose of enabling the trustee to determine the question.

      64ZB Manner of voting [see Table B]

      (1) A creditor who participates in a meeting in person or by telephone may cast the creditor’s vote personally and not otherwise.

      (2) Subject to subsections (3) and (5), the vote of a creditor who is not participating in a meeting in person or by telephone may be cast by a proxy duly appointed by the creditor, or by an attorney duly authorised by the creditor under a power of attorney, being a proxy or attorney participating in the meeting in person or by telephone, and the casting of a creditor’s vote by such a proxy or attorney is taken to constitute the casting of a vote by the creditor.

      (3) A person claiming to be the proxy of a creditor is not entitled to vote as proxy unless the instrument of appointment has been lodged with the President (or with the trustee, before the President was elected), either before or after the announcement is made under section 64M about the appointment of proxies and attorneys.

      (3A) If an instrument of appointment of a proxy is lodged with the President in substitution for another instrument with an earlier date, then the later instrument commences to have effect (from the time it is lodged with the President) in substitution for the earlier instrument.

      (4) A creditor’s proxy or attorney is not disqualified from casting the creditor’s vote merely because the proxy or attorney is the trustee, the President or the minutes secretary.

      (5) If the trustee or an associate of the trustee is a creditor’s proxy or attorney, the trustee or associate may not cast the creditor’s vote on a motion relating to the trustee’s remuneration unless the instrument appointing the proxy or the power of attorney, as the case may be, expressly authorises the trustee or associate to cast the creditor’s vote on such a motion.

      (6) For the purposes of subsection (5), a person is an associate of the trustee if the person is:

      (a) a partner of the trustee; or

      (b) an employee of the trustee; or

      (c) a solicitor for the trustee, for a partnership in which the trustee is a partner, or for a person or partnership that employs the trustee.

      (7) A motion proposed at a meeting is to be resolved:

      (a) subject to paragraph (b) — on the voices; or

      (b) if:

      (i) the President is unable to determine the result of the voting on the voices; or

      (ii) any of the creditors and their representatives requests a poll, whether the request is made before the motion is put to the vote on the voices or after the President announces the result of the vote on the voices; or

      (iii) the motion relates to a matter in respect of which this Act requires the passing of a resolution or special resolution;

      by a poll taken:

      (iv) by a show of hands or written votes of creditors, or proxies or attorneys, participating in person; and

      (v) by statements made by telephone to the President by creditors, or proxies or attorneys, participating by telephone.

      (8) For the purposes of determining whether a motion proposed at the meeting is resolved, the value of a creditor who:

      (a) has been assigned a debt; and

      (b) is present at the meeting personally, by telephone, by attorney or by proxy; and

      (c) is voting on the motion;

      is to be worked out by taking the value of the assigned debt to be equal to the value of the consideration that the creditor gave for the assignment of the debt.

      64ZBA Creditors’ resolution without meeting

      (1) The trustee may at any time put a proposal to the creditors by giving a notice under this section.

      (2) The notice must:

      (a) contain a single proposal; and

      (b) include a statement of the reasons for the proposal and the likely impact it will have on creditors (if it is passed); and

      (c) be given to each creditor who would be entitled under section 64A to receive notice of a meeting of creditors; and

      (d) invite the creditor to either:

      (i) vote Yes or No on the proposal; or

      (ii) object to the proposal being resolved without a meeting of creditors; and

      (e) specify a time by which replies must be received by the trustee (in order to be taken into account).

      (2A) If the proposal relates to how the trustee is to be remunerated, the notice must also:

      (a) if the trustee proposes to charge on a time-cost basis:

      (i)

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