5.34.—(1) This rule applies where the housing administrator is unable to declare any dividend or (as the case may be) any further dividend.
(2) In such a case, the housing administrator must deliver a notice, containing a statement to the effect that either—
(a)no funds have been realised; or
(b)the funds realised have already been distributed or used or allocated for paying the expenses of the housing administration.
(3) The information required by paragraph (2) may be contained in a progress report.