Commonwealth Numbered Regulations

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1983 No. 316 COMPANIES REGULATIONS (AMENDMENT) - REG 10

10. Regulation 138 of the Companies Regulations is repealed and the following
regulation substituted: Time allowed for dealing with formal proofs of debt or
claim

"138. (1) Where the liquidator has given notice in accordance with
sub-regulation 137 (1) of his intention to declare a dividend, he shall-

   (a)  within 14 days after the date specified, in accordance with
        sub-regulation 137 (2), in that notice; or

   (b)  within such further period as the Commission allows, in writing-

   (c)  admit a formal proof of debt or claim received by him before the end
        of that period, reject it, admit it in part and reject it in part, or
        require further evidence in support of it; and

   (d)  give notice of his decision to the creditor who submitted the proof.



"(2) Where, within whichever period is applicable pursuant to paragraph (1)
(a) or (b) or sub-regulation (3), the liquidator does not, in writing, deal
with a formal proof of debt or claim in accordance with paragraphs (1) (c) and
(d), the creditor who submitted the proof may apply to the Court for a
decision in respect of it.

"(3) Where the liquidator gives notice to a creditor that further evidence is
required in relation to a formal proof of debt or claim submitted by the
creditor-

   (a)  the liquidator shall, in writing, deal with the formal proof of debt
        or claim in accordance with paragraphs (1) (c) and (d), within
        whichever period referred to in paragraph (1) (a) or (b) is
        applicable; and

   (b)  that period shall be deemed not to have commenced to run until the day
        on which the liquidator receives a sufficient written answer to his
        request.".



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