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Section 434B: Representation of corporations in decision procedures and at meetings

Insolvency Act 1986 · 1986 c. 45View on legislation.gov.uk

Part 17A: SUPPLEMENTARY PROVISIONS

If a corporation is a creditor or debenture-holder, it may by resolution of its directors or other governing body authorise a person or persons to act as its representative or representatives—

in a qualifying decision procedure, held in pursuance of this Act or of rules made under it, by which a decision is sought from the creditors of a company, or
at any meeting of a company held in pursuance of the provisions contained in a debenture or trust deed.

Where the corporation authorises only one person, that person is entitled to exercise the same powers on behalf of the corporation as the corporation could exercise if it were an individual creditor or debenture-holder.

Where the corporation authorises more than one person, any one of them is entitled to exercise the same powers on behalf of the corporation as the corporation could exercise if it were an individual creditor or debenture-holder.

Where the corporation authorises more than one person and more than one of them purport to exercise a power under subsection (3)—

if they purport to exercise the power in the same way, the power is treated as exercised in that way;
if they do not purport to exercise the power in the same way, the power is treated as not exercised.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.