Commentary on Sections Position of creditors Section 126: Sections 122 to 125: further amendments
731.This section introduces Schedule 9, which contains amendments of the Insolvency Act 1986, needed in order that the policy underpinning sections 122 to 125 can work effectively for the various insolvency processes described. Schedule 9 removes requirements to hold physical meetings of creditors and contributories, and makes provision for notices to no longer be sent to opted-out creditors.
732.Schedule 9 also removes the requirement for final company meetings in liquidation proceedings.