17.23.—(1) This rule applies in relation to a creditors' voluntary winding up, a winding up by the court and a bankruptcy.
(2) The office-holder must deliver a report to every member of the liquidation committee or the creditors' committee (as appropriate) containing the information required by paragraph (3)—
(a)not less than once in every period of six months (unless the committee agrees otherwise); and
(b)when directed to do so by the committee.
(3) The required information is a report setting out—
(a)the position generally in relation to the progress of the proceedings; and
(b)any matters arising in connection with them to which the office-holder considers the committee's attention should be drawn.
(4) The office-holder must, as soon as reasonably practicable after being directed by the committee—
(a)deliver any report directed under paragraph (2)(b);
(b)comply with a request by the committee for information.
(5) However the office-holder need not comply with such a direction where it appears to the office-holder that—
(a)the direction is frivolous or unreasonable;
(b)the cost of complying would be excessive, having regard to the relative importance of the information; or
(c)there are insufficient assets to enable the office-holder to comply.
(6) Where the committee has come into being more than 28 days after the appointment of the office-holder, the office-holder must make a summary report to the members of the committee of what actions the office-holder has taken since the office-holder's appointment, and must answer such questions as they may put to the office-holder relating to the office-holder's conduct of the proceedings so far.
(7) A person who becomes a member of the committee at any time after its first establishment is not entitled to require a report under this rule by the office-holder of any matters previously arising, other than a summary report.
(8) Nothing in this rule disentitles the committee, or any member of it, from having access to the office-holder's record of the proceedings, or from seeking an explanation of any matter within the committee's responsibility.