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← Insolvency Act 1967

Insolvency Act 1967 s 25

Insolvency Act 1967 s 25

Some sections could not be extracted from the official PDF, so this text may be incomplete.

s 25 Consultative committee

(1) The creditors qualified to vote may, at any meeting of creditors, appoint by resolution from among the creditors qualified to vote, or the holders of general proxies or general powers of attorney from such creditors, a committee of one or more persons, not exceeding three, for the purpose of advising the Director General of Insolvency on matters relating to the administration of the property of the bankrupt. (2) The Director General of Insolvency may convene the committee at such times as he thinks necessary, and the Director General of Insolvency shall convene the committee whenever requested in writing to do so by all or a majority of the members of the committee. (3) Any member of the committee may resign his office by notice in writing, signed by him and delivered to the Director General of Insolvency. (4) If a member of the committee becomes bankrupt, or compounds or arranges with his creditors, or is absent for more than two months from Malaysia his office shall thereupon become vacant. (5) Any member of the committee may be removed by an ordinary resolution at any meeting of creditors, of which seven days’ notice has been given stating the object of the meeting. (6) On a vacancy occurring in the office of a member of the committee the Director General of Insolvency shall forthwith summon a meeting of creditors for the purpose of filling the vacancy, and the meeting may by resolution appoint another creditor or other person eligible as above to fill the vacancy.

Malay text (authoritative)

Jaminan dalam mahkamah

Jaminan melalui bon

Read this section in the full act →

Find Act 360 on lom.agc.gov.my ↗

Text as at 6 October 2023 (LOM reprint); amendments made after that date may not be incorporated.

Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).

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