Article 54 - Effect of approval
(1) This Article 54 has effect where the meeting summoned under Article 52 approves the Arrangement .
(2) The approved Arrangement takes effect as if made by the Company at the creditors' meeting, and binds every person as if he were a party to the Arrangement if, in accordance with these Regulations :
(A) the Administrator had taken all reasonable steps to give notice to that person (whether or not he had received notice); and
(B) he was entitled to vote at that meeting (whether or not he was present or represented at the meeting).