The deemed consent procedure may be used instead of a creditors' decision procedure where an individual's creditors are to make a decision about any matter, unless—
If the rules provide for an individual's creditors to make a decision about the remuneration of any person, they must provide that the decision is to be made by a creditors' decision procedure.
The deemed consent procedure is that the relevant creditors (other than opted-out creditors) are given notice of—
If less than the appropriate number of relevant creditors object to the proposed decision in accordance with the procedure set out in the notice, the creditors are to be treated as having made the proposed decision.
Otherwise—
For the purposes of subsection (4) the "appropriate number" of relevant creditors is 10% in value of those creditors.
"Relevant creditors" means the creditors who, if the decision were to be made by a creditors' decision procedure, would be entitled to vote in the procedure.
In this section references to creditors include creditors of a particular class.
The rules may make further provision about the deemed consent procedure.