(1) On an application under regulation 12B(3) or 12C(3) for the approval of the court to set a hard bar date the court may -

(a) make an order approving the setting of a hard bar date;

(b) adjourn the hearing of the application conditionally or unconditionally; or

(c) make any other order that the court thinks appropriate.

(2) The court may make an order under paragraph (1)(a) only if -

(a) it is satisfied that the administrator has taken all reasonable measures to identify and contact persons who may be entitled to the return of client assets; and

(b) it considers that if a hard bar date is set there is no reasonable prospect -

(i) that the administrator will receive claims for the return of client assets after that date; and

(ii) in the case of an application under regulation 12B(3), that the administrator will receive claims of persons in relation to a security interest asserted over, or other entitlement to, client assets which are not client money.