Paragraph 12 Amendment of Rule 2.16

In Rule 2.16 the existing paragraph shall be numbered (1) and for subparagraph (f) of that paragraph there shall be substituted the following:—

“(f)

the manner in which the affairs and business of the company—

(i)

have, since the date of the administrator’s appointment, been managed and financed, and

(ii)

will, if the administrator’s proposals are approved, continue to be managed and financed; and”.

In Rule 2.16 after the existing paragraph there shall be added the following paragraph:—

“(2)

Where the administrator intends to apply to the court under section 18 for the administration order to be discharged at a time before he has sent a statement of his proposals to creditors in accordance with section 23(1), he shall, at least 10 days before he makes such an application, send to all creditors of the company (so far as he is aware of their addresses) a report containing the information required by paragraph (1)(a)—(f)(i) of this Rule.”.