Clause 3

by deleting paragraph (b) of subsection (1) and substituting the following paragraph:“(b)where there is no agreement with the creditors’ committee or where there is no such committee —

by a special resolution of the creditors whose debts have been admitted for the purpose of voting and who are present (in person or by proxy) and voting at a meeting to be convened by the trustee by a notice to each creditor in accordance with subsection (2); or

by agreement between the trustee in bankruptcy and all the creditors;”; and

by inserting, immediately after subsection (3), the following subsection:“(4) For the purposes of subsection (1)(b)(ii), a creditor is deemed to have agreed with the trustee in bankruptcy if —

the trustee has notified the creditor in the prescribed manner of the remuneration sought by the trustee; and

the creditor has not objected to the remuneration sought by the trustee in the prescribed manner and within the prescribed time.”.