S.L. 371.12 Art. 5Information for the competent authority and the foreignauthorityof the host State.

(1) The Court shall, upon receipt of an application for any reorganisation measure, inform the competent authority regarding this request in order to obtain its views on the adoption of such measure and the practical effects which it may have. Provided that where the reorganisation measure involves a company recovery order in terms of the Companies Act, the provisions of article

329B(3)(d) of the Companies Act shall apply.

(2) Where the court makes a decision, order or appointment of any of the following kinds -

(a) any compromise or arrangement in terms of article 327 of the Companies Act; or

(b) a company recovery order and appoints a special controller in accordance with article 329B of the Companies Act, it must immediately inform the competent authority, or cause the competent authority to be informed without delay, of the decision, order or appointment which has been made.

(3) Where the competent authority is informed of a decision, order or appointment in accordance with this regulation it shall, in turn without delay and by any means available, inform the foreign authority, if any, of the decision to adopt reorganisation measures including the possible practical effects which such a measure may have, before it is adopted or otherwise immediately thereafter: Provided that this sub-regulation shall not apply where regulation 83 of the Recovery and Resolution Regulations applies, and accordingly the foreign authority shall be informed by the Resolution Committee in terms of such regulations.

(4) The duties provided for in this regulation are supplemental to and without prejudice to the duties of the Registrar of Courts in article 329B(13)(a) to (c) of the Companies Act.