Filing, inspection and adjudication of proofs of debt
68.—(1)  Where the Court orders under section 210(1) of the Companies Act 1967 a meeting of the creditors, or a class of creditors, of a company to be summoned, the company must state in every notice mentioned in section 211(1) of that Act summoning the meeting (called in this section the notice summoning the meeting) —
(a)the manner in which a creditor is to file a proof of debt with the company; and
(b)the period within which the proof is to be filed.
(2)  Subject to subsection (3), if a creditor does not file the creditor’s proof of debt in the manner and within the period stated in the notice summoning the meeting, the creditor is not allowed to vote (whether in person or by proxy) at the meeting.
(3)  The Court may, on an application made by the company or a creditor, make an order extending the period stated in the notice summoning the meeting within which a proof of debt is to be filed.
(4)  Upon the making of an order under subsection (3), the company must as soon as practicable send a notice of the order to each creditor meant to be bound by the compromise or arrangement.
(5)  Every proof of debt filed under this section is to be adjudicated by the person who is appointed by the Court to serve as the chairperson of the meeting summoned pursuant to the order made under section 210(1) of the Companies Act 1967 (called in this section the chairperson).
(6)  A creditor who has filed a proof of debt under this section is entitled to inspect the whole or any part of a proof of debt filed by any other creditor, except a part of the other creditor’s proof that contains information that is subject to any obligation as to secrecy, or to any other restriction upon the disclosure of information, imposed by any written law, rule of law, contract or rule of professional conduct, or by any person or authority under any written law.
(7)  The chairperson must inform each creditor who has filed a proof of debt, within such time and manner as may be prescribed, of the results of the adjudication of the proofs of debt filed by all creditors.
(8)  A creditor (A) who has filed a proof of debt may object to one or more of the following:
(a)the rejection by the chairperson of the whole or any part of A’s proof of debt;
(b)the admission by the chairperson of the whole or any part of a proof of debt filed by another creditor;
(c)a request by another creditor to inspect the whole or any part of A’s proof of debt.
(9)  Any dispute between the chairperson and the company, between the chairperson and one or more creditors in relation to the rejection of a proof of debt, or between 2 or more creditors in relation to the inspection or admission of a proof of debt, may be adjudicated by an independent assessor appointed —
(a)by the agreement of all parties to the dispute; or
(b)if there is no such agreement, by the Court on the application of —
(i)any party to the dispute; or
(ii)the company (whether or not a party to the dispute).
(10)  Where a creditor, the company or the chairperson disagrees with any decision of an independent assessor on an adjudication under subsection (9) in relation to the inspection, admission or rejection of a proof of debt, the creditor, company or chairperson (as the case may be) may file a notice of disagreement regarding that decision for consideration by the Court when the Court hears an application for the Court’s approval under section 210(4) of the Companies Act 1967 of the compromise or arrangement in question.
(11)  When exercising its discretion under section 210(4) of the Companies Act 1967, the Court must take into account any notice of disagreement filed under subsection (10).
(12)  The Minister may make regulations to provide for the procedure relating to the inspection and adjudication of proofs of debt filed by creditors under this section.
(13)  Without limiting subsection (12), the regulations mentioned in that subsection may provide for the following matters:
(a)the procedures for the making of a request, by a creditor who has filed a proof of debt, to inspect a proof of debt filed by any other creditor, and for the objection to the request by that other creditor;
(b)the period within which a proof of debt is to be adjudicated by the chairperson;
(c)the time and manner in which creditors are to be informed under subsection (7) of the results of the adjudication;
(d)the procedure relating to the resolution of any dispute mentioned in subsection (9).
(14)  Despite anything in the regulations mentioned in subsection (12), the Court may —
(a)on an application by the company, approve any variation in or substitution of the procedure relating to the inspection and adjudication of proofs of debt filed by creditors under this section; and
(b)on an application by any person subject to any requirement imposed by the regulations, grant relief to the person or extend the time for the person to comply with the requirement.