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Rule 5.38 Requirement for the official receiver’s decisionF1F2

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

  • rule 4.54(5-CVL) substituted for rule 4.54(5) by Insolvency 2010 Sch. 1 para. 179(5)
(1)

Where the official receiver receives a proposal for a voluntary arrangement in accordance with Rule 5.37 he shall, within 28 days of its receipt, serve a notice on the debtor stating that—

(a)

he agrees to act as nominee in relation to the proposal;

(b)

he declines to act as nominee in relation to the proposal and specifying reasons for his decision; or

(c)

on the basis of the information supplied to him he is unable to reach a decision as to whether to act and specifying what further information he requires.

(2)

Where the debtor, pursuant to a request under paragraph (1)(c), supplies the information requested, the official receiver shall, within 28 days of the receipt of the information, serve a notice on the debtor in accordance with paragraph (1).

Annotations

Textual amendments

F1

Pt. 5 substituted (1.1.2003) by The Insolvency (Amendment) (No. 2) Rules 2002 (S.I. 2002/2712), rule 1(1), Sch. para. 24 (with rule 3(2))

F2

Pt. 5 Chs. 7-12 substituted for Pt. 5 Ch. 7 (1.4.2004) by The Insolvency (Amendment) Rules 2003 (S.I. 2003/1730), rule 1(3), Sch. 1 para. 31