72.— (1) A creditors’ meeting F67[called in accordance with section 70] shall be conducted in accordance with section 74 and any regulations made under that section.

(2) The personal insolvency practitioner may, where he or she believes it is in the interests of obtaining approval of a proposed Debt Settlement Arrangement by the creditors at the meeting, adjourn the meeting and, with the consent in writing of the debtor, shall prepare an amended proposal for a Debt Settlement Arrangement.

(3) Where the personal insolvency practitioner prepares an amended proposal for a Debt Settlement Arrangement pursuant to subsection (2) he or she shall—

(a) notify the debtor of the date on which, and time and place at which, the adjourned meeting will be held,

(b) at least 7 days before the day of the adjourned meeting, unless all of the creditors agree in writing to receive a shorter period of notice, notify each creditor of the date on which, and time and place at which, the adjourned meeting will be held,

(c) ensure that the notices referred to in paragraphs (a) and (b) are accompanied by a copy of the amended proposal, and

(d) lodge a copy of the notice referred to in paragraph (b) and a copy of the amended proposal with the Insolvency Service.

(4) An adjournment for the purpose of preparing an amended proposal for a Debt Settlement Arrangement pursuant to subsection (2) may occur once only in the course of the period of validity of a protective certificate (including any extension of such period).

(5) Subject to subsection (6), creditors at a meeting under this section, having considered a proposal for a Debt Settlement Arrangement shall vote, in accordance with section 73, either by voting in favour or against the approval of the proposed Debt Settlement Arrangement.

(6) Subject to subsection (2), the proposal for a Debt Settlement Arrangement may, before the proposal has been voted upon, be subject to a proposal for a modification where the modification addresses an ambiguity or rectifies an error in the proposed Debt Settlement Arrangement and where—

(a) the modification has been proposed by a creditor or the personal insolvency practitioner, and

(b) the debtor gives his or her written consent to the modification.

(7) Where, on the taking of a vote under subsection (5), the proposal is not approved F68[or deemed to have been approved] in accordance with section 73, the Debt Settlement Arrangement procedure shall be deemed to have come to an end, and the protective certificate issued under section 61 shall cease to have effect.

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