IPS 75-40 Proposals without meetings – Aryza Australia

Meeting Resolutions may now be voted on without the need for calling and holding a traditional meeting.

Additional document templates and processes have been added to accommodate for different methods of handling proposals without meetings.

The normal voting requirements apply in so far as:

- providing all the relevant information to the creditor on the voting

- providing information the creditor of their rights

- spelling out the reasons and effect of their vote

- explain how to vote and how to object to voting without out a meeting

- asking the creditor to submit a proof of debt

- as the meeting is not attended it is not necessary to obtain a proxy

- the same requirements for voting apply as far as seeking the required individuals to authorise a proof of debt.

- in the case of remuneration determinations, a remuneration report must be provided.

Types of proposals

There are specific types of resolutions that may be conducted without a meeting:

- fee approval

- costs approvals (non administrative)

- destruction of books and records

Different ways you may call for a proposal without a resolution

There have been several processes identified as possible means whereby an external administrator can call for a vote on a proposal.

via Email

You may send to a creditor a voting form via email and ask the creditor to complete the form and email it back to you.

via the creditors' portal

Once registered, creditors may complete a proof of debt online and submit their votes to a proposal online.

Voting on proposals electronically

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