Paragraph 16 Amendment to Rule 4.49

After Rule 4.49 (which becomes paragraph (1) of Rule 4.49) there is inserted—

“(2)

The report under paragraph (1) shall also include—

(a)

to the best of the liquidator’s knowledge and belief—

(i)

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

(ii)

an estimate of the value of the company’s net property; and

(b)

whether, and if so, why, the liquidator proposes to make an application to court under section 176A(5).

(3)

Nothing in this Rule is to be taken as requiring any such estimate to include any information, the disclosure of which could seriously prejudice the commercial interests of the company. If such information is excluded from the calculation the estimate shall be accompanied by a statement to that effect.”.