Full legislation
s.119
Resolution of creditors and contributories
At a meeting of creditors a resolution shall be deemed to be passed when a majority
in value of the creditors present personally or by proxy and voting on the resolution
have voted in favour of the resolution, and at a meeting of the contributories a
resolution shall be deemed to be passed when a majority in value of the contributories
present personally or by proxy, and voting on the resolution, have voted in favour of
the resolution, the value of the contributories being determined according to the number
of votes conferred on each contributory by the regulations of the company.