87. When creditors may terminate Deed of Company Arrangement

(1) The creditors are not entitled to pass a resolution under Section 86(b) (When Deed of Company Arrangement terminates) unless —
(a) there has been a breach of the Deed of Company Arrangement; and
(b) the breach has not been rectified before the resolution is passed.
(2) When a Deed of Company Arrangement terminates in accordance with subsection (1), the administrator of the Deed of Company Arrangement must —
(a) send to the Registrar a notice of the termination; and
(b) send such a notice to each of the Company's creditors other than opted-out creditors.