55. Failure to submit report; replacement of nominee.

On the application of the nominee1, the court may extend the period for which the interim order has effect2 so as to enable the nominee to have more time to prepare his report3.

On an application made by the debtor4 in a case where the nominee has failed to submit a report5 or has died, or on an application made by the debtor or the nominee in a case where it is impracticable or inappropriate for the nominee to continue to act as such, the court may direct that the nominee is to be replaced as such by another person