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Amendment of section 73 of Principal Act
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6. Section 73 of the Principal Act is amended—
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(a) by the substitution of the following for subsection (6):
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“(6) A proposal for a Debt Settlement Arrangement shall be considered as having been approved by a creditors’ meeting held under this Chapter where creditors representing not less than 65 per cent of the total amount of the debtor’s debts due to the creditors participating in the meeting and voting have voted in favour of the proposal.”,
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and
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(b) in subsection (7), by the substitution of “Where a vote is held under section 72(5) and no creditor votes,” for “Where no creditor votes,”.
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