Constitution and proceedings of committee of inspection
151.—(1)  The committee of inspection must consist of creditors and contributories of the company, or persons holding —
(a)general powers of attorney from creditors or contributories; or
(b)special authorities from creditors or contributories authorising the persons named in those special authorities to act on such a committee,
being creditors, contributories or persons (as the case may be) appointed by the meetings of creditors and contributories in such proportions as are agreed or, in case of difference, as are determined by the Court.
(2)  The committee of inspection may meet at such times and places as it may from time to time appoint, and the liquidator or any member of the committee may also call a meeting of the committee as he or she thinks necessary.
(3)  The committee of inspection may act by a majority of its members present at a meeting, but must not act unless a majority of the committee is present.
(4)  A member of the committee of inspection may resign by notice in writing signed by him or her and delivered to the liquidator.
(5)  The office of a member of the committee of inspection becomes vacant if —
(a)the member becomes bankrupt;
(b)the member assigns his or her estate for the benefit of his or her creditors;
(c)the member makes an arrangement with his or her creditors under this Act; or
(d)the member is absent from 5 consecutive meetings of the committee without the leave of the other members of the committee who represent the creditors (where the member represents creditors) or the contributories (where the member represents contributories).
(6)  A member of the committee of inspection may be removed by an ordinary resolution at a meeting of creditors (where the member represents creditors), or of contributories (where the member represents contributories), if notice of the meeting has been given at least 7 days before the date of the meeting, stating the object of the meeting.
(7)  A vacancy in the committee of inspection may be filled by the appointment by the committee of the same or another creditor or contributory or person holding a general power of attorney or special authority as specified in subsection (1).
(8)  The liquidator may at any time of the liquidator’s own motion, and must within 7 days after the request in writing of a creditor or contributory, summon a meeting of creditors or of contributories, as the case requires, to consider any appointment made under subsection (7), and the meeting may confirm the appointment or revoke the appointment and appoint another creditor or contributory or person holding a general power of attorney or special authority as specified in subsection (1), as the case requires, in place of the person appointed under subsection (7).
(9)  The continuing members of the committee of inspection, if not less than 2, may act despite any vacancy in the committee.
(10)  In this section, “general power of attorney” includes a lasting power of attorney registered under the Mental Capacity Act 2008.