Article 39 - Statement of proposals

(1) Where an Administrator has been appointed, he shall, within two months (or such longer period as the QFC Court may allow) after the commencement of the administration (being the date on which an Administrator is first appointed to the Company):
(A) send to the CRO and (so far as he is aware of their addresses) to all creditors a statement of his proposals for achieving the purpose or purposes of the administration; and
(B) lay a copy of the statement before a meeting of the Company's creditors summoned, for the purpose, on not less than 14 days' notice.
(2) Article 39(1)(B) shall not apply where the Administrator was appointed by a Secured Creditor under Article 20.
(3) The Administrator shall also, within two months (or such longer period as the QFC Authority may allow) after his appointment, send a copy of the statement (so far as he is aware of their addresses) to all members of the Company.