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Rule 77 Notice of no dividend, or no further dividend

Original text. Later amendments are not shown.

(1)

If the T&S administrator delivers notice to creditors that the T&S administrator is unable to declare any dividend or any further dividend (as the case may be), the notice must contain a statement to the effect either—

(a)

that no funds have been realised, or

(b)

that the funds realised have already been distributed or used or allocated for paying the expenses of T&S administration.

(2)

The information required by paragraph (2) may be included in a progress report (see rule 26).