In section 23 of the 1986 Act (statement of proposals), as applied by this Part of this Schedule, for subsections (1) and (2) there shall be substituted the following subsections—

“(1)

Where a railway administration order has been made, the special railway administrator shall, within 3 months (or such longer period as the court may allow) after the making of the order, send a statement of his proposals for achieving the purposes of the order—

(a)

to the Secretary of State;

(b)

to the Rail Regulator;

(c)

to the Director of Passenger Rail Franchising;

(d)

so far as he is aware of their addresses, to all creditors of the company; and

(e)

except where the company is an unregistered company which is not subject to a requirement imposed under or by virtue of section 691(1) or 718 of the M1Companies Act 1985 to deliver any documents to the registrar of companies, to the registrar of companies;

and may from time to time revise those proposals.

(2)

If at any time—

(a)

the special railway administrator proposes to make revisions of the proposals for achieving the purposes of the railway administration order, and

(b)

those revisions appear to him to be substantial,

the special railway administrator shall, before making those revisions, send a statement of the proposed revisions to the persons specified in subsection (2A).

(2A)

The persons mentioned in subsection (2) are—

(a)

the Secretary of State;

(b)

the Rail Regulator;

(c)

the Director of Passenger Rail Franchising;

(d)

all creditors of the company, so far as the special railway administrator is aware of their addresses; and

(e)

except where the company is an unregistered company which is not subject to a requirement imposed under or by virtue of section 691(1) or 718 of the M2Companies Act 1985 to deliver any documents to the registrar of companies, the registrar of companies.

(2B)

Where the special railway administrator is required by subsection (1) or (2) to send any person a statement before the end of any period or before making any revision of any proposals, he shall also, before the end of that period or, as the case may be, before making those revisions either—

(a)

send a copy of the statement (so far as he is aware of their addresses) to all members of the company; or

(b)

publish in the prescribed manner a notice stating an address to which members should write for copies of the statement to be sent to them free of charge.”