Contractual powers of trustee
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14.—(1) Where an application is made under section 110(4)(b) of the Act (to extend the 28 days for a trustee to adopt or refuse to adopt a contract), AiB must within 14 days beginning with the day on which the application is made—
(a)decide whether to extend the 28 days; or
(b)refer the matter to the sheriff under section 110(8) of the Act.
(2) AiB must notify all interested persons—
(a)of any decision of AiB on such an application; and
(b)of any direction of the sheriff within 7 days of receipt of that direction.
(3) For the avoidance of doubt, the time limit in paragraph (1) does not apply to any review application.