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Rule 83 Division of unsold assets

Original text. Later amendments are not shown.

(1)

The nuclear administrator may divide qualifying property in its existing form amongst the creditors of the relevant licensee nuclear company—

(a)

according to its estimated value, and

(b)

with the permission of the creditors.

(2)

In paragraph (1), “qualifying property” is any property which from its peculiar nature or other special circumstances cannot be readily or advantageously sold.

(3)

The nuclear administrator must—

(a)

in the receipts and payments account included in the progress report under rule 26, state the estimated value of the property divided amongst the creditors of the relevant licensee nuclear company under paragraph (1) during the period to which the report relates, and

(b)

as a note to the account, provide details of the basis of the valuation.