Section 495 CAMA 2020

Section 495 Companies and Allied Matters Act is about Correspondence instead of creditors’ meeting. It is under Chapter 18 (Administration of companies: nature of administration) of the Act.

(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.