13. Amendment of section 424 of the principal enactment

Section 424 of the principal enactment is hereby amended in subsection (2) thereof, by the substitution for the words “it may reasonably require.”, of the following: -

“it may reasonably require:

Provided however, where an administrator is unable to provide the required information within the period of time specifi ed in the notice made under this subsection, such administrator may forward an application to the Registrar setting out therein the reasons for such inability. Upon consideration of the application and reasons, the

Registrar may extend, subject to any terms and conditions, if any, the period of time specifi ed for the providing of information. The Registrar shall, in writing communicate his decision to the administrator and the creditors’ committee.”.