Cap. 631 Art. 40Procedure of meeting.

(1) At the meeting for the adoption of the restructuring plan, the affected parties shall have the opportunity to discuss the restructuring plan and request clarification on the contents thereof from the insolvency practitioner.

(2) The affected parties shall then vote on the adoption of the restructuring plan, by show of hands, and the insolvency practitioner shall record the result of the votes taken.

(3) Any affected party may delay the submission of their vote, for a maximum period of seven (7) days to be reckoned from the day following the meeting, in which case their vote shall be submitted, in writing, to the insolvency practitioner before the expiration of the said seven (7) day period.

(4) The written communication of a vote transmitted by the affected party to the insolvency practitioner in terms of sub-article (3), must, on pain of nullity, expressly and unequivocally state whether the affected party wishes to adopt or reject the restructuring plan, and such vote may be validly submitted to the insolvency practitioner electronically.

(5) Notwithstanding any agreement to the contrary, any affected party that does not vote in the manner aforesaid shall not be considered for the purpose of assessing whether the restructuring plan has received the approval necessary for adoption by the affected parties in terms of article 41 or for the restructuring plan to be crammed down in terms of article 42.