Article 187 - Obligation of disclosure to the CRO
(1) Subject to Article 187(2), an insolvency practitioner appointed to a
Company shall disclose to the CRO any matter which reasonably tends to show one of the following:
(A) a breach, or likely breach of a provision of these
(B) a failure, or likely failure, to comply with any obligation to which a person is subject under these
(C) any other matter as the
QFC Authority may prescribe in rules
which may be attributable to the conduct of the relevant
Company or of its officers, employees or agents.
(2) Article 187(1) shall not apply to the extent that compliance with such requirement would disclose a communication arising from the provision of professional legal advice.
(3) Any provision in an agreement between a
Company and an officer, employee, agent or insolvency practitioner is void in so far as it purports to hinder any person from causing or assisting an insolvency practitioner to comply with an obligation under Article 187(1).
(4) No person shall be subjected to detriment or loss or damage merely by reason of undertaking any act to cause or assist an insolvency practitioner to comply with an obligation under Article 187(1).
QFC Court may, on application of an aggrieved person, make any order for relief where the person has been subjected to any such detriment or loss or damage referred to in Article 187(4).
(6) Without limiting the application of any other provision of these
Regulations, an insolvency practitioner does not contravene any duty to which he is subject merely because he gives to the CRO:
(A) a notification as required under this Article; or
(B) any other information or opinion in relation to any such matter
if the insolvency practitioner is acting in good faith and reasonably believes that the notification, information or opinion is relevant to any functions of the