SCHEDULES
SCHEDULE 5Conduct of housing administration: companies
PART 1Modifications of Schedule B1 to the Insolvency Act 1986
9Specific modifications
Paragraph 54 is to have effect as if the following were substituted for it—
54
1
The housing administrator of a company may on one or more occasions revise the proposals included in the statement made under paragraph 49 in relation to the company.
2
If the housing administrator thinks that a revision is substantial, the housing administrator must send a copy of the revised proposals—
a
to the registrar of companies,
b
to the Secretary of State and the Regulator of Social Housing,
c
to every creditor of the company, other than an opted-out creditor, of whose claim and address the housing administrator is aware, and
d
to every member of the company of whose address the housing administrator is aware.
3
A copy sent in accordance with sub-paragraph (2) must be sent within the prescribed period.
4
The housing administrator is to be taken to have complied with sub-paragraph (2)(d) if the housing administrator publishes, in the prescribed manner, a notice undertaking to provide a copy of the revised proposals free of charge to any member of the company who applies in writing to a specified address.
5
A housing administrator who fails without reasonable excuse to comply with this paragraph commits an offence.