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Amendment of section 430 of Principal Act
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24. Section 430 of the Principal Act is amended—
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(a) in paragraph (b) of subsection (3), by the substitution of “7 days” for “30 days”, and
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(b) by the insertion of the following subsection after subsection (3):
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“(3A) (a) The receiver shall, on the request of a person referred to in paragraph (b), send to the person, not later than 7 days after the date of the request, the following information in the prescribed form:
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(i) the terms upon which the receiver is entitled to remuneration in accordance with the instrument under which he or she stands appointed, including either—
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(I) the amount to be paid by way of remuneration to the receiver in respect of his or her appointment, or
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(II) where it is not practicable to ascertain that amount, the estimated amount expected to be paid by way of remuneration to the receiver in respect of his or her appointment,
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or
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(ii) where an order of the court is made under section 444, the amount fixed under that order to be paid by way of remuneration to the receiver.
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(b) The following persons may make a request for the purposes of paragraph (a):
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(i) a member of the company;
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(ii) a creditor of the company;
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(iii) such other persons as may be prescribed.
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(c) The information required to be sent to a person under paragraph (a) may be sent by electronic means if—
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(i) it is sent to an email address at which the person has agreed in writing to receive the information, and
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(ii) a record that the email has been sent is made for the sender by the email system used.”.
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