Document ID: chunk:federal_register_of_legislation:F2022C00672:body:0:p41
Version: federal_register_of_legislation:F2022C00672
Segment Type: other
Provision Reference: 
Character Range: 102713–105290

vote against the resolution; and
 (b) a majority in value of the creditors voting (whether in person, by proxy or attorney) vote against the resolution.
 (3) If no result is reached under subsection (1) or (2) and the resolution does not relate to the remuneration or the removal of the trustee:
 (a) the trustee may exercise a casting vote in favour of the resolution, in which case the resolution is passed; or
 (b) the trustee may exercise a casting vote against the resolution, in which case the resolution is not passed; or
 (c) if the trustee does not exercise a casting vote, the resolution is not passed.
 (4) If no result is reached under subsection (1) or (2) and the resolution relates to remuneration, the resolution is not passed.
 (5) If no result is reached under subsection (1) or (2) and the resolution relates to the removal of the trustee:
 (a) the trustee may exercise a casting vote in favour of the resolution, in which case the resolution is passed; or
 (b) if paragraph (a) does not apply—the resolution is not passed.
 (6) If no result is reached under subsection (1) or (2), the trustee must:
 (a) inform the meeting of the trustee's reasons for exercising, or not exercising, as the case may be, a casting vote under subsection (3) or (5); and
 (b) include those reasons in the minutes of the meeting.

75‑130  When a resolution is passed without a meeting of creditors
 (1) This section is made for the purposes of paragraphs 75‑40(5)(a) and (b) of the Insolvency Practice Schedule (Bankruptcy).
 (2) A proposal put to the creditors of a regulated debtor by giving notice under section 75‑40 of the Insolvency Practice Schedule (Bankruptcy) is taken to have been passed as a resolution at a meeting of creditors if:
 (a) a majority of the creditors whose replies to the notice are received by the trustee within the time specified in the notice (the responding creditors) vote Yes; and
 (b) a majority in value of the responding creditors vote Yes; and
 (c) not more than 25% in value of the responding creditors notify the trustee within the time specified in the notice that they object to the proposal being resolved without a meeting of creditors.
 (3) The time specified for the purposes of paragraphs (2)(a) and (c) must be at least 15 business days after the day the notice is given.
 (4) For the purposes of subsection (2), a creditor is not to be counted as a responding creditor unless:
 (a) the creditor has submitted particulars of his or her debt or claim to the trustee on or before the day the creditor replies to the notice; and
 (b)