23 specified in subsection (2)(b), such proposal shall require the specific approval of creditors representing not less than fifty per centum in value of the debts owed to them by the company. (4) For the avoidance of doubt it is declared that a “creditor” in this section includes a depositor with a financial institution. 24 Approval of scheme of reconstruction (1) No later than two months after the commencement of the reconstruction the administrator shall produce a scheme of reconstruction providing for any of the matters specified in section 23 and present it to a joint meeting of creditors and members. (2) The administrator may vary the scheme of reconstruction in accordance with the opinions and wishes of the creditors and members expressed at the meeting referred to in subsection (1). (3) As soon as possible after the meeting referred to in subsection (1) the administrator shall submit the scheme of reconstruction, with variations, if any, to the Minister, together with a report summarising the opinions and wishes of the creditors and members in relation to it. (4) The Minister may, after considering the scheme of reconstruction and the report referred to in subsection (3), approve the scheme of reconstruction submitted to him or her or approve it subject to such variations as he or she may direct. 25 Consequences where reconstruction not possible or scheme therefor unapproved If⎯ (a) after representations made to him or her by the administrator, the Minister⎯ (i) is of the opinion that, in the circumstances pertaining to the company under reconstruction, no feasible scheme for its reconstruction can be formulated except by advancing additional public funds to it; and (ii) such funds are unavailable; or (b) a scheme of reconstruction is not approved under section 24; the appropriate Minister shall cancel the reconstruction order in terms of section 35 and thereupon Part V or VI of the Act shall apply to such company. 26 Implementation of scheme of reconstruction and matters incidental thereto (1) The administrator shall do and have power to do all things necessary to carry out the reconstruction of a company in accordance with a scheme of reconstruction approved in terms of section 24. (2) The appropriate Minister shall nominate the persons who, on behalf of the State, will hold the shares of the State in any reconstructed company. (3) Any dividends or other moneys received by a person referred to in subsection (2) in right of or on the disposal of any share or right acquired by the State by virtue of this Act shall be paid into the Consolidated Revenue Fund.