Individual notices to creditors etc of intended dividend or distribution
This section has no associated Explanatory Memorandum
5.26.—(1) Where the housing administrator intends to make a distribution to creditors or declare a dividend, the housing administrator must deliver a notice of that intention to all the creditors in the housing administration.
(2) Where the intended dividend is only for preferential creditors, the housing administrator is only required to deliver such a notice to the preferential creditors.
(3) Where the housing administrator intends to declare a dividend to unsecured creditors, the notice must also state the value of the prescribed part or that the court has made an order under section 176A(5) of the Act.