Part II- 52. Resolution of contributories' meeting.

Part II

MEETINGS OF CREDITORS AND CONTRIBUTORIES

52. Resolution of contributories' meeting.-

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 and the value of the contributories shall be determined according to the number of votes to which each contributory is entitled as a member of the company under the provisions of the Act, or the articles of the company, as the case may be.