5.3B.23
CurrentCreditors may change vote
Chapter 5External administration
Part 5.3BRestructuring of a company
Division 3Restructuring plan
Subdivision BProposing a restructuring plan
5.3B.23 Creditors may change vote
(1)
This regulation applies if:
(a)
a company proposes to make a restructuring plan; and
(b)
an affected creditor of the company gave a statement under paragraph 5.3B.21(1)(b) in relation to the plan.
(2)
At any time before the end of the acceptance period, the creditor may:
(a)
withdraw the statement; and
(b)
give a new statement under paragraph 5.3B.21(1)(b) in relation to the plan.
(3)
A statement may be withdrawn, and a new statement may be given, more than once before the end of the acceptance period.
Definitions
(4)
In this regulation:
acceptance period has the same meaning as in subregulation 5.3B.21(3).
This Act’s bill:Explanatory statement
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