This is a new section.
SECTION 266.
Question proposed : " That Section 266 stand part of the Bill."
It brings the creditors into the picture and provides for a change-over.
It is not so much a matter of change-over. The directors must convene a meeting of the creditors and it is from that point that it becomes a creditors' voluntary winding up.
Question put and agreed to.
Section 267 agreed to.