Personal Insolvency Act 2012
Amendment of section 39 of Bankruptcy Act 1988.
( a) by the substitution of the following for subsection (1):
“(1) Where a stay on the realisation of the estate of the bankrupt has been granted under section 38 or where the Official Assignee has otherwise consented in writing to suspend the realisation of the bankrupt’s estate on such terms as he may specify in such consent, the bankrupt shall call a meeting of his creditors before the Court for the purpose of making an offer of composition to them.”,
( b) by the substitution of the following for subsection (4):
“(4) A creditor whose debt is less than €500 shall not be entitled to vote.”.