Official Assignee not to incur further expenses if majority in value of debts owed to institutional creditors
384.—(1)  The Official Assignee is not liable to incur any expense in relation to the realisation and distribution of a bankrupt’s property, other than expenses in relation to payments made towards the target contribution —
(a)if, and only so long as, the relevant condition is met; and
(b)if the Official Assignee has given to every creditor who has filed a proof of debt, a notice in writing in accordance with subsection (2).
(2)  After the expiry of the time within which creditors are required under section 347(2) to file their proof of debt, if the Official Assignee is satisfied that the relevant condition is met, the Official Assignee may give to each of the bankrupt’s creditors who has filed a proof of debt, a notice in writing —
(a)informing the creditors that the Official Assignee is satisfied that the relevant condition is met;
(b)informing the creditors that they may wish to consider making an application under section 36 for the appointment of a person other than the Official Assignee to act as the trustee of the bankrupt’s estate; and
(c)providing a summary of the administration of the bankrupt’s estate that contains such particulars as may be prescribed.
(3)  Nothing in this section relieves the Official Assignee of any obligation under section 339, 340, 341, 342, 343, 344 or 347.
(4)  In this section —
“institutional creditor” has the meaning given by section 36(4), except that the reference, in paragraph (d)(ii) of the definition of “institutional creditor” in that section, to the date of the application for the bankruptcy order mentioned in section 36(2) is to be read as a reference to the date of the bankruptcy application on which the bankrupt was adjudged bankrupt;
“relevant condition” means a majority in value of the total debts of the bankrupt that have been proved (and are not withdrawn) are owed to one or more persons who are either an institutional creditor or a subsidiary of an institutional creditor.