Cap. 6:07 52 INSOLVENCY No. 7/2018 Creditors' committee (I) If I 0 or more unsecured crcdi tors hm c proved claims against the estate the proved unsecured creditors present at the first meeting or a subsequent meeting must vote on the question whether a creditors' committee, consisting of prm ed unsecured creditors, should be appointed. (2) Three members of the creditors committee must be nominated at the meeting by prmcd unsecured creditors, two by creditors who have a majority in number and one by creditors who have a majority in value. (3) The nominated creditors must elect a chairperson who must convene meetings of the committee at a place most convenient for the members after I 0 days' standard notice to members. (4)The chairperson or another person elected by members present at a mccti ng presides at a meeting and draws up a summary of the discussion and decisions taken at a meeting. (5) The quorum for a meeting is three persons, or the person or persons present at an adjourned meeting \Vi th at least three days' standard notice of the adjourned meeting. (6) Members arc entitled to costs to attend meetings regarded as reasonable by the liquidator and payable by the liquidator as costs of liquidation. (7) Members are not entitled to remuneration or fees for work done or attendance of meetings. (8) The functions of the Committee arc to- (a) be consulted by the liquidator and give its views on all non-routine matters: (b) be heard on key decisions and proceedings; (c) make available information to creditors and the liquidator. (9) Committee members must treat information obtained in the course of their duties as members of the committee, as confidential. (10) A person ceases to be a member upon death, written resignation handed to the Chairperson of the committee, or removal by other members for failing to fulfil obligations or for other good cause. (II) Committee members are replaced by another member nominated by a majority of proved creditors at a meeting convened with the nomination of a member as part of the agenda, or nominated by the liquidator or another member of the committee and not objected to by a majority of unsecured creditors after I 0 days • direct notice of the proposed appointment of the member. ( 12) Members of a creditor committee are exempt from liability for their actions in their capacity as members of the committee, unless they are found to have acted fraudulently or to be guilty of wilful misconduct. 53 General provisions relating to meetings of creditors (I) A meeting must, subject to subsection (8), be convened- (a) in the magisterial district where the debtor had his main place of business at the time of liquidation; or (b) if the debtor did not carry on a business or if it is unclear where the debtor's main business was situated, in the magisterial district where the debtor had his ordinary residence or registered office at the date of liquidation; or 241