S.L. 403.15 Art. 18Reports to creditors.

(1) Once every twelve months beginning from the date when his appointment has effect, a liquidator or any other person appointed for this purpose by the relevant authorities shall send a written report setting out the position generally as regards the progress of the winding up to every known creditor.

(2) The requirement in subregulation (1) does not apply where a liquidator or any other person appointed by the relevant authorities is required by such authorities to send a report to creditors at intervals which are more frequent than those required by this regulation.

(3) This regulation is without prejudice to any requirement to send a report to creditors, imposed by the relevant authorities, on the liquidator or any other person appointed by the relevant authorities, which is supplementary to the requirements of this regulation.

(4) Upon a request received from a foreign authority, for information on developments in the winding up procedure, the competent authority shall provide such information.