(1)Where a compromise or arrangement is proposed-(a)between a company and its creditors or any class of them; or(b)between a company and its members or any class of them;the [Tribunal] may, on the application of the company or of any creditor or member of the company, or, in the case of a company which is being wound up, of the Liquidator, order a meeting of the creditors or class of creditors, or of the members or class of members, as the case may be, to be called, held and conducted in such manner as the [Tribunal] [ Substituted by Act 11 of 2003, Section 39, for " Court" .]
