Section 18 of the Act of 1990 is hereby amended -
(a) by the substitution of the following subsection for subsection (1):
"(1) An examiner shall -
(a) as soon as practicable after he is appointed, formulate proposals for a compromise or scheme of arrangement in relation to the company concerned,
(b) without prejudice to any other provision of this Act, carry out such other duties as the court may direct him to carry out.",
(b) in subsection (2), by the deletion of all the words from "to consider such proposals" to the end of that subsection and the substitution of the following:
"for the purpose of section 23 and shall report on those proposals to the court, within 35 days of his appointment or such longer period as the court may allow, in accordance with section 19.",
(c) in subsection (3), by the substitution of "70 days" for "three months",
(d) by the substitution of the following subsections for subsections (5) and (6):
"(5) The examiner shall supply a copy of his report under