S 64ZB repealed by No 11 of 2016, s 3 and Sch 1 item 24, applicable in relation to the administration of regulated debtors
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estates on and after 1 September 2017. S 64ZB formerly read:
SECTION 64ZB MANNER OF VOTING
64ZB(1)
A creditor who participates in a meeting in person or by telephone may cast the creditor
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s vote personally and not otherwise.
History
S 64ZB(1) inserted by No 9 of 1992, s 12.
[
CCH Note:
For application of this section to meetings of creditors under Div 6 of Part IV see Bankruptcy Rules Sch 1A.]
64ZB(2)
Subject to subsections (3) and (5), the vote of a creditor who is not participating in a meeting in person or by telephone may be cast by a proxy duly appointed by the creditor, or by an attorney duly authorised by the creditor under a power of attorney, being a proxy or attorney participating in the meeting in person or by telephone, and the casting of a creditor
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s vote by such a proxy or attorney is taken to constitute the casting of a vote by the creditor.
History
S 64ZB(2) inserted by No 9 of 1992, s 12.
64ZB(3)
A person claiming to be the proxy of a creditor is not entitled to vote as proxy unless the instrument of appointment has been lodged with the President (or with the trustee, before the President was elected), either before or after the announcement is made under section 64M about the appointment of proxies and attorneys.
History
S 64ZB(3) and (3A) substituted for s 64XB(3) by No 131 of 2002 (as amended by No 80 of 2004, s 3 and Sch 7), s 3 and Sch 1 items 53 and 209, applicable to meetings of which notice is given after 5 May 2003. For additional provision on the commencement of No 131 of 2002, see note under s 33A. S 64ZB(3) formerly read:
64ZB(3)
A creditor
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s proxy or attorney is not entitled to cast the creditor
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s vote at a meeting unless the instrument appointing the proxy was received by, or the power of attorney was produced to, the trustee before the announcement about the appointment of proxies and attorneys is made at the meeting under section 64M.
S 64ZB(3) inserted by No 9 of 1992, s 12.
64ZB(3A)
If an instrument of appointment of a proxy is lodged with the President in substitution for another instrument with an earlier date, then the later instrument commences to have effect (from the time it is lodged with the President) in substitution for the earlier instrument.
History
S 64ZB (3) and (3A) substituted for s 64ZB(3) by No 131 of 2002 (as amended by No 80 of 2004, s 3 and Sch 7), s 3 and Sch 1 items 53 and 209, applicable to meetings of which notice is given after 5 May 2003. For additional provision on the commencement of No 131 of 2002, see note under s 33A.
64ZB(4)
A creditor
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s proxy or attorney is not disqualified from casting the creditor
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s vote merely because the proxy or attorney is the trustee, the President or the minutes secretary.
History
S 64ZB(4) inserted by No 9 of 1992, s 12.
64ZB(5)
If the trustee or an associate of the trustee is a creditor
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s proxy or attorney, the trustee or associate may not cast the creditor
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s vote on a motion relating to the trustee
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s remuneration unless the instrument appointing the proxy or the power of attorney, as the case may be, expressly authorises the trustee or associate to cast the creditor
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s vote on such a motion.
History
S 64ZB(5) inserted by No 9 of 1992, s 12.
64ZB(6)
For the purposes of subsection (5), a person is an associate of the trustee if the person is:
(a)
a partner of the trustee; or
(b)
an employee of the trustee; or
(c)
a solicitor for the trustee, for a partnership in which the trustee is a partner, or for a person or partnership that employs the trustee.
History
S 64ZB(6) inserted by No 9 of 1992, s 12.
64ZB(7)
A motion proposed at a meeting is to be resolved:
(a)
subject to paragraph (b)
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on the voices; or
(b)
if:
(i)
the President is unable to determine the result of the voting on the voices; or
(ii)
any of the creditors and their representatives requests a poll, whether the request is made before the motion is put to the vote on the voices or after the President announces the result of the vote on the voices; or
(iii)
the motion relates to a matter in respect of which this Act requires the passing of a resolution or special resolution;
by a poll taken:
(iv)
by a show of hands or written votes of creditors, or proxies or attorneys, participating in person; and
(v)
by statements made by telephone to the President by creditors, or proxies or attorneys, participating by telephone.
History
S 64ZB(7) inserted by No 9 of 1992, s 12.
64ZB(8)
For the purposes of determining whether a motion proposed at the meeting is resolved, the value of a creditor who:
(a)
has been assigned a debt; and
(b)
is present at the meeting personally, by telephone, by attorney or by proxy; and
(c)
is voting on the motion;
is to be worked out by taking the value of the assigned debt to be equal to the value of the consideration that the creditor gave for the assignment of the debt.
History
S 64ZB(8) inserted by No 44 of 1996, Sch 1, Pt 1(165).
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