Article 11

Regulation 7 of the Receivers (Scotland) Regulations 1986^f1 is renumbered as regulation 7(1) and the following inserted after the paragraph so renumbered–

“(2)

The receiver’s report under section 67(1) shall state, to the best of his knowledge and belief–

(a)

an estimate of the value of the prescribed part (whether or not he proposes to make an application under section 176A(5) or whether section 176A(3) applies), and

(b)

an estimate of the value of the company’s net property,

provided that such estimates shall not be required to include any information the disclosure of which could seriously prejudice the commercial interests of the company, but if such information is excluded the estimates shall be accompanied by a statement to that effect.

(3)

The report shall also state whether, and, if so, why, the receiver proposes to make an application to the court under section 176A(5).”.

For Page 2 of Form 5 (Scot) substitute the page set out in Part 2 of the Schedule to this Order.