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Company Law Enforcement Act, 2001

Amendment of section 267 of Act of 1963.

47.—Section 267 of the Act of 1963 is amended by the insertion of the following after subsection (2):

“(3) If at a meeting of creditors mentioned in section 266(1) a resolution as to the creditors' nominee as liquidator is proposed, it shall be deemed to be passed when a majority, in value only, of the creditors present personally or by proxy and voting on the resolution have voted in favour of the resolution.”.