332. Alternative provision as to annual and final meetings in case of insolvency

In any case where the provisions of section 329

have effect, the provisions of sections 340 and 341 shall apply to the winding up to the exclusion of the provisions of sections 330 and 331, as if the winding up were a creditors’

voluntary winding up and not a members’ voluntary winding up :

Provided that the liquidator shall not be required to summon a meeting of creditors under the provisions of section 340 at the end of the first year from the date of the commencement of the winding up, unless the meeting held under the provisions of section 329 is held more than three months before the end of that year.

PROVISIONS APPLICABLE TO A CREDITOR’S VOLUNTARY WINDING UP