An interim order1 ceases to have effect at the end of the period of 14 days beginning with the day after the making of the order2. On an application made by the debtor3 in a case where the nominee4 has failed to submit a report5, the court may direct that the interim order is to continue or, if it has ceased to have effect, is to be renewed, for such further period as the court may specify in the direction6. On the application of the nominee, the court may extend the period for which the interim order has effect
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