Document ID: chunk:federal_register_of_legislation:F2022C00672:body:0:p42
Version: federal_register_of_legislation:F2022C00672
Segment Type: other
Provision Reference: 
Character Range: 105075–107621

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) the trustee has admitted the proof of debt or claim, including the amount, for the purposes of voting.
 (4A) For the purposes of paragraphs (2)(b) and (c), the value of a responding creditor who:
 (a) is a related entity of the regulated debtor; and
 (b) has been assigned a debt;
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.
 (5) If subsection (2) does not apply, the proposal is not taken to have been passed as a resolution.
 (6) The trustee must make a written record of the outcome of the proposal in the books required to be kept under section 70‑10 of the Insolvency Practice Schedule (Bankruptcy).

75‑132  When a special resolution is passed at a meeting of creditors
 (1) A special resolution is passed at a meeting of creditors of a regulated debtor if:
 (a) a majority of the creditors voting at the meeting vote in favour of the resolution; and
 (b) at least 75% in value of the creditors voting at the meeting vote in favour of the resolution; and
 (c) if the resolution relates to paragraph 109(1)(j) of the Act—the notice convening the meeting at which the resolution was passed contained a copy of the proposed resolution.
 (2) Otherwise, the special resolution is not passed.
 (3) For the purposes of paragraph (1)(b), the value of a creditor who:
 (a) is a related entity of the regulated debtor; and
 (b) has been assigned a debt;
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.

75‑137  When a special 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 special 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) at least 75% in value of the responding creditors vote Yes; and
 (d) if the resolution relates