54

1

The housing administrator of a company may on one or more occasions revise the proposals included in the statement made under paragraph 49 in relation to the company.

2

If the housing administrator thinks that a revision is substantial, the housing administrator must send a copy of the revised proposals—

a

to the registrar of companies,

b

to the Secretary of State and the Regulator of Social Housing,

c

to every creditor of the company, other than an opted-out creditor, of whose claim and address the housing administrator is aware, and

d

to every member of the company of whose address the housing administrator is aware.

3

A copy sent in accordance with sub-paragraph (2) must be sent within the prescribed period.

4

The housing administrator is to be taken to have complied with sub-paragraph (2)(d) if the housing administrator publishes, in the prescribed manner, a notice undertaking to provide a copy of the revised proposals free of charge to any member of the company who applies in writing to a specified address.

5

A housing administrator who fails without reasonable excuse to comply with this paragraph commits an offence.