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BANKRUPTCY AMENDMENT ACT 1987 No. 119 of 1987 - SECT 71
Manner of voting
71. (1) Section 200 of the Principal Act is amended:
(a) by omitting from subsection (2) "A" and substituting "Subject to
subsection (3A), a"; and
(b) by inserting after subsection (3) the following subsections:
"(3A) A person is not entitled to vote as proxy of a creditor on a proposed
resolution under section 204 unless the instrument by which the person is
appointed authorises the person to vote in a specified manner on each of the
following kinds of resolution under that section:
(a) a resolution that the debtor's property be no longer subject to
control under this Division;
(b) a resolution requiring the debtor to execute a deed of assignment;
(c) a resolution requiring the debtor to execute a deed of arrangement;
(d) a resolution accepting a composition;
(e) a resolution requiring the debtor to present a debtor's petition
within 7 days after the passing of the resolution;
and the person votes on the proposed resolution in accordance with the
instrument.
"(3B) For the purposes of subsection (3A), an instrument authorising a person
to abstain from voting on a particular kind of resolution shall be taken to
authorise the person to vote in a specified manner on that kind of
resolution.".
(2) The amendments made by subsection (1) apply as provided in subsection 106
(2).
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