Commonwealth Consolidated Acts

BANKRUPTCY ACT 1966 - SECT 64ZB

             (1)  A creditor who participates in a meeting in person or by telephone may cast the creditor's vote personally and not otherwise.

             (2)  Subject to subsections (3) and (5), the vote of a creditor who is not participating in a meeting in person or by telephone may be cast by a proxy duly appointed by the creditor, or by an attorney duly authorised by the creditor under a power of attorney, being a proxy or attorney participating in the meeting in person or by telephone, and the casting of a creditor's vote by such a proxy or attorney is taken to constitute the casting of a vote by the creditor.

             (3)  A person claiming to be the proxy of a creditor is not entitled to vote as proxy unless the instrument of appointment has been lodged with the President (or with the trustee, before the President was elected), either before or after the announcement is made under section 64M about the appointment of proxies and attorneys.

          (3A)  If an instrument of appointment of a proxy is lodged with the President in substitution for another instrument with an earlier date, then the later instrument commences to have effect (from the time it is lodged with the President) in substitution for the earlier instrument.

             (4)  A creditor's proxy or attorney is not disqualified from casting the creditor's vote merely because the proxy or attorney is the trustee, the President or the minutes secretary.

             (5)  If the trustee or an associate of the trustee is a creditor's proxy or attorney, the trustee or associate may not cast the creditor's vote on a motion relating to the trustee's remuneration unless the instrument appointing the proxy or the power of attorney, as the case may be, expressly authorises the trustee or associate to cast the creditor's vote on such a motion.

             (6)  For the purposes of subsection (5), a person is an associate of the trustee if the person is:

                     (a)  a partner of the trustee; or

                     (b)  an employee of the trustee; or

                     (c)  a solicitor for the trustee, for a partnership in which the trustee is a partner, or for a person or partnership that employs the trustee.

             (7)  A motion proposed at a meeting is to be resolved:

                     (a)  subject to paragraph (b)--on the voices; or

                     (b)  if:

                              (i)  the President is unable to determine the result of the voting on the voices; or

                             (ii)  any of the creditors and their representatives requests a poll, whether the request is made before the motion is put to the vote on the voices or after the President announces the result of the vote on the voices; or

                            (iii)  the motion relates to a matter in respect of which this Act requires the passing of a resolution or special resolution;

                            by a poll taken:

                            (iv)  by a show of hands or written votes of creditors, or proxies or attorneys, participating in person; and

                             (v)  by statements made by telephone to the President by creditors, or proxies or attorneys, participating by telephone.

             (8)  For the purposes of determining whether a motion proposed at the meeting is resolved, the value of a creditor who:

                     (a)  has been assigned a debt; and

                     (b)  is present at the meeting personally, by telephone, by attorney or by proxy; and

                     (c)  is voting on the motion;

is to be worked out by taking the value of the assigned debt to be equal to the value of the consideration that the creditor gave for the assignment of the debt.