(1) If the administrator thinks it necessary in order to expedite the return of client assets, the administrator may set a bar date for the submission of -

(a) claims to the beneficial ownership, or other form of ownership, of the client assets; or

(b) claims of persons in relation to a security interest asserted over, or other entitlement to, those assets.

(2) Claims under paragraph (1) include claims that are contingent or disputed.

(3) In setting a bar date, the administrator must allow a reasonable time after notice of the special administration has been published (in accordance with insolvency rules) for persons to be able to calculate and submit their claims.

(4) Subject to paragraph (4A), where the administrator sets a bar date -

(a) the administrator must return client assets in accordance with the prescribed procedure; but

(b) no client assets may be returned after the bar date has been set unless the court has given its approval on an application made by the administrator in accordance with the prescribed procedure.