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Version date: 1 October 2010 - onwards
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50. Right of Bank to be represented at meetings of committees of inspection.

(1) An authorised person may attend any meeting of creditors of a holder or former holder of a licence.

(2) The Bank may, in writing, appoint a person to be a member of a committee of inspection appointed in respect of the holder or former holder of a licence.

(3) An authorised person is not to be treated as a member of such a committee of inspection for the purpose of computing the minimum or maximum numbers of members of the committee prescribed under the Companies Acts 1963 to 2001. Nor may an authorised person be removed from membership of the committee without the consent of the Bank.

(4) In this section -

"authorised person" means a person appointed under subsection (2);

"committee of inspection" means a committee of inspection appointed under section 233 or 268 of the Companies Act 1963.

Comparing proposed amendment...