### Bankruptcy Rules 《破產規則》

122ZJ. Committee-members’ representatives
(1) A member of the creditors’ committee may, in relation to the business of the committee, be represented by another person duly authorized by him for that purpose.
(2) A person acting as a committee-member’s representative must hold a letter of authority entitling him so to act (either generally or specially) and signed by or on behalf of the committee-member, and for this purpose any proxy in relation to any meeting of creditors of the bankrupt shall, unless it contains a statement to the contrary, be treated as such a letter of authority to act generally signed by or on behalf of the committee-member.
(3) The chairman at any meeting of the committee may call on a person claiming to act as a committee-member’s representative to produce his letter of authority, and may exclude him if it appears that his authority is deficient.
(4) No member may be represented by a body corporate or by a person who is an undischarged bankrupt or is subject to a voluntary arrangement with his creditors.
(5) No person shall—
(a) on the same committee, act at one and the same time as representative of more than one committee-member; or
(b) act both as a member of the committee and as representative of another member.
(6) Where the representative of a committee-member signs any document on the latter’s behalf, the fact that he so signs must be stated below his signature.
(7) The acts of the committee are valid notwithstanding any defect in the appointment or qualifications of any committee-member’s representative.
(L.N. 77 of 1998)

122ZK. Resignation
A member of the creditors’ committee may resign by notice in writing delivered to the trustee.
(L.N. 77 of 1998)

122ZL. Termination of membership
(1) A person’s membership of the creditors’ committee is automatically terminated if—
(a) he becomes bankrupt or enters into a voluntary arrangement with his creditors;
(b) at 3 consecutive meetings of the committee he is neither present nor represented (unless at the third of those meetings it is resolved that this rule is not to apply in his case); or
(c) he ceases to be, or is found never to have been, a creditor.
(2) Where the cause of termination is the member’s bankruptcy, his trustee in bankruptcy replaces him as a member of the committee.
(L.N. 77 of 1998)

122ZM. Removal
A member of the creditors’ committee may be removed by resolution at a meeting of creditors, at least 14 days’ notice having been given of the intention to move that resolution.
(L.N. 77 of 1998)

### Bankruptcy Rules 《破產規則》

122ZN. Vacancies
(1) The following applies if there is a vacancy in the membership of the creditors’ committee.
(2) The vacancy need not be filled if the trustee and a majority of the remaining committee-members so agree, provided that the number of members does not fall below the minimum required by rule 122ZE(1).
(3) The trustee may appoint any creditor (being qualified under these rules to be a member of the committee) to fill the vacancy, if a majority of the other members of the committee agree to the appointment and the creditor concerned consents to act, or, alternatively, a meeting of creditors may resolve that a creditor be appointed (with his consent) to fill the vacancy, but in this case at least 14 days’ notice must have been given of a resolution to make such an appointment (whether or not of a person named in the notice).
(L.N. 77 of 1998)

122ZO. Voting rights and resolutions
(1) At any meeting of the creditors’ committee, each member (whether present himself, or by his representative) has one vote; and a resolution is passed when a majority of the members present or represented have voted in favour of it.
(2) Every resolution passed shall be recorded in writing, either separately or as part of the minutes of the meeting, and the record shall be signed by the chairman and kept with the records of the bankruptcy.
(L.N. 77 of 1998)

122ZP. Resolutions by post
(1) In accordance with this rule, the trustee may seek to obtain the agreement of members of the creditors’ committee to a resolution by sending to every member (or his representative designated for the purpose) a copy of the proposed resolution.
(2) Where the trustee makes use of the procedure allowed by this rule, he shall send out to members of the committee or their representatives (as the case may be) a copy of any proposed resolution on which a decision is sought, which shall be set out in such a way that agreement with or dissent from each separate resolution may be indicated by the recipient on the copy so sent.
(3) Any member of the committee may, within 7 business days from the date of the trustee sending out a resolution, require the trustee to summon a meeting of the committee to consider the matters raised by the resolution.
(4) In the absence of such a request, the resolution is deemed to have been carried in the committee if and when the trustee is notified in writing by a majority of the members that they concur with it.
(5) A copy of every resolution passed under this rule, and a note that the concurrence of the committee was obtained, shall be kept with the records of the bankruptcy.
(L.N. 77 of 1998)

### Bankruptcy Rules 《破產規則》

123. Notice of intended dividend
(1) Not more than 4 months before declaring a dividend, the trustee shall gazette notice of his intention to do so and at the same time give notice to such of the creditors mentioned in the bankrupt’s statement of affairs as have not proved their debts. Such notice shall specify the latest date up to which proofs must be lodged, which shall be not less than 14 days from the date of such notice.
(2) Where any creditor, after the date mentioned in the notice of intention to declare a dividend as the latest date upon which proofs may be lodged, appeals against the decision of the trustee rejecting a proof, such appeal shall be commenced, and notice thereof given to the trustee, within 7 days from the date of the notice of the decision against which the appeal is made, and the trustee shall in such case make provision for the dividend upon such proof, and the probable costs of such appeal in the event of the proof being admitted. Where no appeal has been commenced within the time specified in this rule, the trustee shall exclude all proofs which have been rejected from participation in the dividend. 
(3) Immediately after the expiration of the time fixed by this rule for appealing against the decision of the trustee, he shall proceed to declare a dividend and gazette the same and shall also send a notice of dividend to each creditor whose proof has been admitted.
(4) If it becomes necessary, in the opinion of the trustee or the creditors’ committee, to postpone the declaration of the dividend beyond the prescribed limit of four months, the trustee shall gazette a fresh notice of his intention to declare a dividend, but it shall not be necessary for such trustee to give a fresh notice to such of the creditors mentioned in the bankrupt’s statement of affairs as have not proved their debts. In all other respects the same procedure shall follow the fresh notice as would have followed the original notice. 

(L.N. 77 of 1998)

124. Production of bills, notes, etc.
Subject to the provisions of section 70 of the Bills of Exchange Ordinance (Cap. 19), and subject to the power of the court in any other case on special grounds to order production to be dispensed with, every bill of exchange, promissory note or other negotiable instrument or security upon which proof has been made shall be exhibited to the trustee before payment of dividend thereon, and the amount of dividend paid shall be endorsed on the instrument.

125. Dividend may be sent by post
The amount of the dividend may be transmitted to a creditor by post.
(L.N. 77 of 1998)

126. Payment of dividends to a nominee
If a person to whom dividends are payable desires that they shall be paid to some other person, he may lodge with the trustee a request to that effect which shall be a sufficient authority for payment of the dividend to the person therein named.