Section 18 Effect of halt to payments

Where a halt to payments is introduced under section 17, further administration of the estate shall proceed under the general rules of the bankruptcy legislation. The bankruptcy administrator and creditors’ committee shall inform the holders of covered bonds of the further treatment of the cover pool. The bankruptcy administrator and creditors’ committee shall, when making material decisions about the cover pool, consult the holders of covered bonds in accordance with the Financial Institutions Act section 2-35 first paragraph.