21 (2) The representatives may at any time, on not less than seven days’ notice to the administrator, convene joint or separate meetings of the creditors and members at which the creditors or members may make any recommendation— (a) rejecting any action proposed to be taken by the administrator in the exercise of his or her powers and additionally, or alternatively, recommending an alternative course of action; or (b) reversing any action taken by the administrator in the exercise of his or her powers, to the extent that such reversal is possible; or (c) generally as to the manner in which the administrator is to exercise his or her powers; and the administrator shall promptly respond in writing to any such recommendation, but he or she shall not be bound by any such recommendation unless— (d) there is no difference in the recommendation of the creditors and members; and (e) either of both of the following conditions apply, namely that— (i) the claims of the creditors participating at the meeting represent more than fifty per centum in value of the debts owed to them by the company; or (ii) the interests of the members participating at the meeting represent more than fifty per centum in value of the shares or assets of the company. (3) Where the administrator rejects any recommendation that he or she is not bound by, either or both of the representatives may appeal in writing to the Minister against the administrator’s decision no later than seven days after being informed of it, and the Minister may on such appeal confirm, vary or set aside the administrator’s decision. PART V SCHEMES OF RECONSTRUCTION AND INTERIM MANAGEMENT OF RECONSTRUCTED COMPANIES 23 Powers of administrator with respect to scheme of reconstruction (1) Subject to section 25, the administrator shall have powers to formulate and implement a scheme of reconstruction of the company under reconstruction, for which purpose the administrator may do any one or more of the following things— (a) issue to the State shares or other securities in a reconstructed company in satisfaction of any credit owed to the State by, or payment by the State of any guarantee on behalf of, the company under reconstruction; (b) consolidate or redivide shares of the same or different classes held by a member in a company under reconstruction into any number of shares (whether of the same or different classes) of any denomination equivalent to the true or fair value of the shares previously held by the member; (c) cancel any shares held by a member in a company under reconstruction and issue to such member any number of shares of any denomination in a reconstructed company that are equivalent to the true or fair value of the shares previously held by the member;