Regulation 118

A meeting may not act for any purpose except the election of a chairman, the proving of debts and the adjournment of the meeting unless there are present or represented thereat in the case of a creditors’ meeting at least 3 creditors entitled to vote or in the case of a meeting of partners at least 3 partners or all the creditors entitled to vote or all the partners, if the number of the creditors entitled to vote or the partners, as the case may be, shall, not exceed 3.

If within half an hour from the time appointed for the meeting a quorum of creditors or partners is not present or represented, the meeting shall be adjourned to the same day in the following week at the same time and place or to such other day as the chairman may appoint, not being less than 7 nor more than 21 days from the day from which the meeting was adjourned.

1If within half an hour from the time appointed for the adjourned meeting a quorum of creditors or partners is not present or represented, the adjourned meeting shall not be further adjourned. 1 Form 17, First Schedule (memorandum of proceedings at an adjourned first meeting).

The list of creditors assembled to be used at every meeting shall be in Form 18.