Section 420. Statement of proposals

(1) Where a judicial management order has been made, the judicial manager shall, within sixty days or such longer period as the Court may allow, after the making of the order—

(a) send a statement of his proposal for achieving one or more of the purposes mentioned in paragraph 405(1)(b) to the Registrar and to all creditors to their last known address; and

(b) lay a copy of the statement before a meeting of the company’s creditors summoned for the period of not less than fourteen days’ notice.

(2) The judicial manager shall also, within sixty days or such longer period as the Court may allow after the making of the order either—

(a) send a copy of the statement to all members of the company to the last known address of all the members; or

(b) publish a notice in one widely circulated newspaper in Malaysia in the national language and one widely circulated newspaper in Malaysia in the English language stating an address to which members of the company should write for copies of the statement to be sent to the members free of charge.