Article 121 - Constitution of committee
(1) Where these
Regulations provide for a Creditors' Committee to be established, and it is resolved by a creditors' meeting to establish such a committee, the Creditors' Committee shall consist of at least three and not more than five creditors of the Company elected at the meeting. Membership of the Creditors' Committee shall be decided by way of a general vote of those creditors present or represented at the meeting. Each creditor may vote for up to 5 creditor representatives.
(2) Any creditor of the
Company is eligible to be a member of the Creditors' Committee, so long as his claim has not been rejected for the purpose of his entitlement to vote.
(3) A body corporate may be a member of the
Creditors' Committee, but it cannot act as such otherwise than by a representative appointed by it for the purpose.