Schedule B1, paragraph 54(2)

The administrator shall— . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . send a statement in the prescribed form of the proposed revision ... to each creditor who is not an opted-out creditor, send a copy of the statement, within the prescribed period, to each member of the company of whose address he is aware, and seek a decision from the company's creditors as to whether they approve the proposed revision.

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Source: legislation.gov.uk · retrieved 2026-09-04