Section Sch5-4 — Companies Act 1993: Quorum

4 Quorum (1) A quorum for a meeting of creditors is present if— (a) Three creditors who are entitled to vote or their proxies are present or have cast postal votes; or (b) If the number of creditors entitled to vote does not exceed 3, the creditors who are entitled to vote or their proxies are present or have cast postal votes. (2) If a quorum is not present within 30 minutes after the time appointed for the meeting, the meeting is adjourned to the same day in the following week at the same time and place, or to such other date, time, and place as the chairperson may appoint, and if, at the adjourned meeting, a quorum is not present within 30 minutes after the time appointed for the meeting, the creditors present or their proxies are a quorum.