I:-~soLVENCY Cap. 6:07 No. 7/2018 (4) A corporate rescue plan that has been adopted is binding on the company, and on each of the creditors of the company and every holder of the company's securities, whether or not such a person(a) was present at the meeting; or (b) voted in favour of adoption of the plan; or (c) in the case of creditors, had proved their claims against the company. (5) The company, under the direction of the corporate rescue practitioner, must take all necessary steps to(a) attempt to satisfy any conditions on which the corporate rescue plan is contingent; and (b) implement the plan as adopted. (6) To the extent necessary to implement an adopted corporate rescue plan- (a) the corporate rescue practitioner may, in accordance with that plan, determine the consideration for, and issue, any authorised securities of the company, despite any other provision of the Companies Act l Chapter 24:31], to the contrary; and (b) if the corporate rescue plan was approved by the shareholders of the company, as contemplated in subsection (3)(c), the corporate rescue practitioner may amend the company's Memorandum of Incorporation to authorise, and determine the preferences, rights, limitations and other terms of, any securities that are not othemise authorised, but are contemplated to be issued in terms of the corporate rescue plan, despite any other provision of the Companies Act lChapter 24:311, to the contrary. (7) Except to the extent that an approved corporate rescue plan provides otherwise, a pre-emptive right of any shareholder of the company does not apply with respect to an issue of shares by the company in terms of the corporate rescue plan. (8) When the corporate rescue plan has been substantially implemented, the corporate rescue practitioner must file a notice of the substantial implementation of the corporate rescue plan. 145 Failure to adopt corporate rescue plan (l) If a corporate rescue plan has been rejected as contemplated in section 144(3)(a) or (c)(ii)(B) the corporate rescue practitioner may- (a) seck a vote of approval from the holders of voting interests to prepare and publish a revised plan; or (b) advise the meeting that the company will apply to a Court to set aside the result of the vote by the holders of voting interests or shareholders, as the case may be, on the grounds that it was inappropriate. (2) If the corporate rescue practitioner does not take any action contemplated in paragraph (a), any affected person or combination of affected persons present at the meeting may- (a) call for a vote of approval from the holders of voting interests requiring the corporate rescue practitioner to prepare and publish a revised plan; or (b) apply to the Court to set aside the result of the vote by the holders of \·oting interests or shareholders, as the case may be, on the grounds that it was inappropriate; or (c) make a binding offer to purchase the \ oting interests of one or more persons who opposed adoption of the corporate rescue plan. at a value independently and expertly determined, on the request of the corporate 305