Administration of estate
15First accounting period
In section 52 of the 1985 Act (estate to be distributed in respect of accounting periods)—
(a)
in subsection (2)(a) after “months” insert “
or such shorter period as may be agreed or determined in accordance with subsection (2ZB), either period
”
,
(b)
in subsection (2ZA) after “awarded” insert “
or such shorter period as may be agreed or determined in accordance with subsection (2ZB)
”
, and
(c)
“(2ZB)
This subsection applies where the trustee considers that the funds of the debtor's estate are sufficient to pay a dividend in accordance with subsection (3) in respect of—
(a)
in the case where the trustee is the Accountant in Bankruptcy, a shorter period of not less than 6 months determined by the Accountant in Bankruptcy,
(b)
in any other case, a shorter period of not less than 6 months agreed—
(i)
between the trustee and the commissioners, or
(ii)
if there are no commissioners, between the trustee and the Accountant in Bankruptcy.”.