Article 23 Dividends to creditorsI1

This Rule applies in the case of a company carrying on long-term business.

Part 11 of the principal Rules applies separately in relation to the two separate companies assumed for the purposes of Rule 5.

The High Court may, at any time before the making of a stop order, permit a dividend to be declared and paid on such terms as it thinks fit in respect only of debts which fell due to payment before the liquidation date or, in the case of claims under long-term policies, which have fallen due for payment on or after the liquidation date.