42. Vote by chairman as proxy-holder

Where, in a meeting of creditors in an administration, where there is a Deed of Company Arrangement or a creditors' voluntary winding-up or a compulsory winding-up, the chairman holds a proxy which includes a requirement to vote for a particular resolution and no other person proposes that resolution —

(a) the chairman must propose it unless the chairman considers that there is good reason for not doing so; and
(b) if the chairman does not propose it, the chairman must as soon as reasonably practicable after the meeting deliver notice to the principal of the reason why not.