274. Requisite majorities.

A decision is made by creditors when a majority (in value) of those voting have voted in favour of the proposed decision1. However, in the case of a proposed individual voluntary arrangement2 a decision approving a proposal or a modification is made when three-quarters or more (in value) of those responding vote in favour of it, and a decision is not made if more than half of the total value of creditors who are not associates