2223
CAP. 6]
Bankruptcy
[1986 Ed.
(2) The committee of inspection shall consist of 2 or more persons, possessing one or other of the following qualifications- (Amended, 1 of 1976, s. 4)
(a) that of being a creditor or the holder of a general proxy or general power of attorney from a creditor:
Provided that no creditor and no holder of a general proxy or general power of attorney from a creditor shall be qualified to act as a member of the committee of inspection until the creditor has proved his debt and the proof has been admitted; or
(b) that of being a person to whom a creditor intends to give a general proxy or general power of attorney:
Provided that no such person shall be qualified to act as a member of the committee of inspection until he holds such a proxy or power of attorney, and until the creditor has proved his debt and the proof has been admitted.
(3) The committee of inspection shall meet at such times as they shall from time to time appoint, and failing such appointment, at least once a month, and the trustee or any member of the committee may also call a meeting of the committee as and when he thinks necessary.
(4) The committee may act by a majority of their members present at a meeting, but shall not act unless a majority of the committee are present at the meeting.
(5) Any member of the committee may resign his office by notice in writing signed by him and delivered to the trustee.
(6) If a member of the committee becomes bankrupt, or compounds or arranges with his creditors, or is absent from 5 consecutive meetings of the committee, his office shall thereupon become vacant.
(7) Any member of the committee may be removed by an ordinary resolution at any meeting of creditors of which 7 days' notice has been given stating the object of the meeting.
(8) On a vacancy occurring in the office of a member of the committee the trustee shall forthwith summon a meeting of creditors for the purpose of filling the vacancy, and the meeting may by resolution appoint another creditor or other person eligible as above to fill the vacancy: (Amended, 47 of 1984, s. 4)
Provided that if the trustee is of the opinion that it is unnecessary for the vacancy to be filled he may apply to the court and the court may make an order that the vacancy shall not be filled, or shall not be filled except in such circumstances as may be specified in the order. (Added, 47 of 1984, s. 4)
(9) The continuing members of the committee, provided there be not less than 2 such continuing members, may act notwithstanding any vacancy in their body. (Replaced, 1 of 1976, s. 4)
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