Section 495

(1) Anything which is required or permitted by or under this Chapter to be done at a creditors' meeting may be done by correspondence between the administrator and creditors-

(a) in accordance with the prescribed rules; and

(b) subject to any prescribed condition.

(2) A reference in this Chapter to anything done at a creditors' meeting includes a reference to anything done in the course of correspondence in accordance with subsection (1).

(3) A requirement to hold a creditors' meeting is satisfied by correspondence in accordance with this section.