PART 7Distributions to creditors
CHAPTER 3Quantification of claims
Notice of no dividend or no further dividend148.
(1)
If the administrator gives notice to creditors that no dividend (or as the case may be, no further dividend) can be declared, the notice must contain a statement to the effect either—
(a)
that no funds have been realised, or
(b)
that the funds realised have already been distributed or used or allocated for paying the expenses of the special administration.
(2)
The notice to creditors in paragraph (1) must also be given to the FCA.