s 2I Meeting of creditors to approve debtor’s proposal
(1) Where an interim order has been made, the nominee shall, before the expiry of the interim order referred to in subsection 2D(3), summon every of the debtor’s creditor to a meeting by giving a prescribed notice to such creditors as to approve the debtor’s proposal for a voluntary arrangement. (2) For the purposes of enabling the nominee to prepare the debtor’s proposal, the debtor shall submit to the nominee— (a) where the debtor is an individual, a statement of his affairs which contains— (i) the particulars of the debtor’s assets, creditors, debts and other liabilities; and (ii) such other information as may be prescribed; or (b) where the debtor is a firm, a statement of the firm’s affairs which contains— (i) the particulars of the assets, creditors, debts and other liabilities of the firm and of each partner of the firm; and (ii) such other information as may be prescribed. (3) The meeting summoned under subsection (1) or any subsequent meeting may, by special resolution, resolve to approve the proposed voluntary arrangement with or without modification but— (a) no modification shall be made to alter the proposal to such extent that the proposal ceases to be a proposal for a voluntary arrangement by the debtor; (b) the meeting shall not approve the proposed voluntary arrangement with any modification unless the debtor has consented to such modification; (c) the meeting shall not approve any proposal or any modification to the proposal which affects the right of a secured creditor of the debtor to enforce his security, except with the concurrence of the secured creditor concerned; and (d) the meeting shall not, without the concurrence of the preferential creditor concerned, approve any proposal or any modification to the proposal under which— (i) any debt of the debtor, not being a preferential debt, is to be paid in priority to any preferential debt of the debtor; or (ii) any preferential debt of the debtor is to be paid in relation to any other preferential debt of the debtor other than in accordance with section 43. (4) Every meeting shall be conducted in accordance with the prescribed rules. (5) Any debtor who makes any false representation or commits any other fraud for the purpose of obtaining the approval of his creditors to a proposal for a voluntary arrangement shall be guilty of an offence and shall be liable on conviction to imprisonment for a term not exceeding two years or to a fine not exceeding five thousand ringgit or to both.