Companies Act 2014

695.

Passing resolutions

695. (1) At a meeting of creditors, a resolution shall be deemed to be passed when a majority in number and value of the creditors present personally or by proxy and voting on the resolution have voted in favour of the resolution.

F426[(1A) Notwithstanding subsection (1), where a meeting of creditors is held wholly or partly by the use of electronic communications technology during the interim period, a resolution shall be deemed to be passed when a majority in number and value of the creditors in attendance at the meeting by such technology and voting on the resolution have voted in favour of the resolution.]

(2) At a meeting of the contributories a resolution shall be deemed to be passed when a majority in number and value of the contributories present personally or by proxy and voting on the resolution have voted in favour of the resolution, the value of the contributories being determined according to the number of votes conferred on each contributory by the constitution of the company.

F426[(2A) Notwithstanding subsection (2), where a meeting of the contributories is held by means of electronic communications technology, a resolution shall be deemed to be passed when a majority in number and value of the contributories in attendance by way of such technology and voting on the resolution have voted in favour of the resolution, the value of the contributories being determined according to the number of votes conferred on each contributory by the constitution of the company.]

(3) This section shall not apply to a resolution referred to in section 588(6), 637(3) or section 668(5) or (6).

Annotations:

Amendments:

F426

Inserted (21.08.2020) by Companies (Miscellaneous Provisions (Covid-19) Act 2020 (9/2020), s. 22(a), (b), S.I. No. 320 of 2020. Note extensions by statutory instruments made under s. 12A.