Article 48 — Function, rights and duties of creditors’ committees

1. Member States shall ensure that creditors’ committees have rights that safeguard their involvement in insolvency proceedings and enable them to examine the activities of insolvency practitioners or, where a debtor remains in possession, of the debtor, including: (a) the right to hear and be heard by insolvency practitioners on matters of interest to the general body of creditors, including major decisions, such as the sale of assets outside the ordinary course of business; (b) the right to be heard in insolvency proceedings; (c) the right to request and receive relevant and necessary information from represented creditors and from insolvency practitioners or, where a debtor remains in possession, from the debtor. Member States may provide, that creditors’ committees have the right to appoint a secretary and to request external advice on matters in which the creditors they represent have an interest. 2. Member States shall ensure that creditors’ committees, during the course of their activities, represent the interests of the general body of creditors and act independently of insolvency practitioners. Member States shall ensure that the members of creditors’ committees represent the interests of the whole body of creditors and act in good faith when carrying out the functions of the committee. 3. Member States may entrust creditors’ committees with the power to approve certain decisions or legal acts. In such a case, Member States shall clearly specify the matters on which such approval is required, which may include all decisions of special importance to the proceedings. 4. Member States shall ensure that creditors, members of creditors’ committees and any professionals assisting creditors’ committees maintain the confidentiality of confidential information obtained in connection with the committee’s activities.