Document ID: chunk:federal_register_of_legislation:F2015L01036:body:0:p4
Version: federal_register_of_legislation:F2015L01036
Segment Type: other
Provision Reference: 
Character Range: 7803–10637

at least 2 of those persons; or

(b)          if only one person is, or 2 persons are, entitled to vote – that person or those persons,

           present in person or by proxy.
(7)   A meeting may be held if all the persons who are entitled to attend, and to vote at, the meeting agree, even if it has not been convened in accordance with these Rules.
(8)   If, within 30 minutes after the time appointed for a meeting:
           (a)          a quorum is not present; or
           (b)          the meeting is not otherwise sufficiently constituted,
           the meeting is adjourned:
           (c)          to the same day in the next week, at the same time and place; or
           (d)          to the day (not being less than 7 or more than 21 days after the day on which the meeting is adjourned) and at the time and place that the external manager thinks are most convenient for the majority of persons entitled to attend the meeting.
(9)   The external manager must, without delay, give written notice of the adjournment to the persons to whom notice of the meeting must be given under rule 6.
(10)      If within 30 minutes after the time appointed for the adjourned meeting:
(a)          a quorum is not present; or

(b)          the meeting is not otherwise sufficiently constituted,

(c)          the adjourned meeting lapses.

(11)      A resolution is carried if:
           (a)          a majority of the creditors voting (whether in person or by proxy) vote in favour of the resolution; and
           (b)          the value of the debts owed by the fund to those voting in favour of the resolution is more than half the total debts owed to all the creditors voting (whether in person or by proxy).

8.             Matters that may be decided at the meeting
At meetings convened in accordance with these Rules, the creditors must resolve:
       (a)          that the responsible insurer execute:
           (i)            the deed of arrangement proposed by the external manager; or

           (ii)         a different deed of arrangement from that originally proposed by the administrator; or

       (b)          to reject the deed.

9.             External managers recommendations to APRA
(1)   If the creditors have made a resolution referred to in paragraph 8 (a), the external manager must recommend in the report to APRA under section 59 of the Act, that APRA approve the execution of the deed, unless subrule (2) applies.
(2)   The external manager must not recommend that APRA approve the execution of the deed if:
           (a)          the deed has been varied by the meeting and the external manager is not satisfied that the varied deed is, in the circumstances, still protective of the interests of the policy holders of the fund; or
           (b)          the deed limits the rights of a