PART 3 Process of Bank Administration

Reports to creditors

37.—(1) The bank administrator must send a copy of each progress report within 28 days of the end of the period covered by the report, to—

(a) the creditors,

(b) the court,

(c) the Bank of England,

(d) the FSA,

(e) the FSCS, and

(f) the registrar of companies.

(2) Instead of complying with paragraph (1)(a) the bank administrator may publish the progress report on its internet website (and take appropriate steps to draw attention to it).

(3) The court may, on the bank administrator’s application—

(a) extend the period specified in paragraph (1),

(b) make any other order about the content of a progress report.