Paragraph 26 C1F1

Paragraph 74 is modified so as to read as follows—

“74.

(1)

A creditor or member of a partnership in administration may apply to the court claiming that—

(a)

the administrator is acting or has acted so as unfairly to harm the interests of the applicant (whether alone or in common with some or all other members or creditors), or

(b)

the administrator proposes to act in a way which would unfairly harm the interests of the applicant (whether alone or in common with some or all other members or creditors).

(2)

A creditor or member of a partnership in administration may apply to the court claiming that the administrator is not performing his functions as quickly or as efficiently as is reasonably practicable.

(3)

The court may—

(a)

grant relief;

(b)

dismiss the application;

(c)

adjourn the hearing conditionally or unconditionally;

(d)

make an interim order;

(e)

make any other order it thinks appropriate.

(4)

In particular, an order under this paragraph may—

(a)

regulate the administrator’s exercise of his functions;

(b)

require the administrator to do or not do a specified thing;

(F2c)

require a decision of the partnership’s creditors to be sought on a matter;

(d)

provide for the appointment of an administrator to cease to have effect;

(e)

make consequential provision.

(5)

An order may be made on a claim under sub-paragraph (1) whether or not the action complained of—

(a)

is within the administrator’s powers under that Schedule;

(b)

was taken in reliance on an order under paragraph 71 or 72.

(6)

An order may not be made under this paragraph if it would impede or prevent the implementation of—

(a)

a voluntary arrangement approved under Part I, or

(b)

proposals or a revision approved under paragraph 53 or 54 more than 28 days before the day on which the application for the order under this paragraph is made.”.