Article 20 Energy administrator’s proposalsI1

England and Wales

(1)

The energy administrator shall, under paragraph 49 of Schedule B1 to the 1986 Act, make a statement which he shall send to the registrar of companies attached to Form EA11.

(2)

The statement shall include, in addition to those matters set out in paragraph 49 of Schedule B1 to the 1986 Act—

(a)

details of the court where the proceedings are and the relevant court reference number;

(b)

the full name, registered address, registered number and any other trading names of the protected energy company;

(c)

details relating to his appointment as energy administrator, including the date of appointment and whether the application was made by the Secretary of State or GEMA and, where there are joint energy administrators, details of the matters set out in section 158(5) of the 2004 Act;

(d)

the names of the directors and secretary of the protected energy company and details of any shareholdings in the protected energy company they may have;

(e)

an account of the circumstances giving rise to the appointment of the energy administrator;

(f)

if a statement of the protected energy company’s affairs has been submitted, a copy or summary of it, with the energy administrator’s comments, if any;

(g)

if an order limiting the disclosure of the statement of affairs (under Rule 17) has been made, a statement of that fact, as well as—

(i)

details of who provided the statement of affairs;

(ii)

the date of the order of limited disclosure; and

(iii)

the details or a summary of the details that are not subject to that order;

(h)

if a full statement of affairs is not provided, the names, addresses and debts of the creditors including details of any security held;

(i)

if no statement of affairs has been submitted, details of the financial position of the protected energy company at the latest practicable date (which must, unless the court otherwise orders, be a date not earlier than that on which the protected energy company entered energy administration), a list of the protected energy company’s creditors including their names, addresses and details of their debts, including any security held, and an explanation as to why there is no statement of affairs;

(j)

(except where the energy administrator proposes a voluntary arrangement in relation to the protected energy company and subject to paragraph (3))—

(i)

to the best of the energy administrator’s knowledge and belief—

(aa)

an estimate of the value of the prescribed part (whether or not he proposes to make an application to court under section 176A(5) of the 1986 Act^f1 or section 176A(3) of the 1986 Act applies); and

(bb)

an estimate of the value of the protected energy company’s net property; and

(ii)

whether, and, if so, why, the energy administrator proposes to make an application to court under section 176A(5) of the 1986 Act;

(k)

how it is envisaged the objective of the energy administration will be achieved and how it is proposed that the energy administration shall end. If a creditors' voluntary liquidation is proposed, details of the proposed liquidator must be provided, and a statement that, in accordance with paragraph 83(7) of Schedule B1 to the 1986 Act and Rule 78(3), creditors may nominate a different person as the proposed liquidator, provided that the nomination is made at a meeting of creditors called for that purpose;

(l)

the manner in which the affairs and business of the protected energy company—

(i)

have, since the date of the energy administrator’s appointment, been managed and financed, including, where any assets have been disposed of, the reasons for such disposals and the terms upon which such disposals were made; and

(ii)

will continue to be managed and financed; and

(m)

such other information (if any) as the energy administrator thinks necessary.

(3)

Nothing in paragraph (2)(j) is to be taken as requiring any such estimate to include any information, the disclosure of which could seriously prejudice the commercial interests of the protected energy company. If such information is excluded from the calculation the estimate shall be accompanied by a statement to that effect.

(4)

Where the court orders, upon an application by the energy administrator under paragraph 107 of Schedule B1 to the 1986 Act, an extension of the period of time in paragraph 49(5) of Schedule B1 to the 1986 Act, the energy administrator shall notify in Form EA12 all the persons set out in paragraph 49(4) of Schedule B1 to the 1986 Act as soon as reasonably practicable after the making of the order.

(5)

Where the energy administrator wishes to publish a notice under paragraph 49(6) of Schedule B1 to the 1986 Act he shall publish the notice once in such newspaper as he thinks most appropriate for ensuring that the notice comes to the attention of the protected energy company’s members. The notice shall—

(a)

state the full name of the protected energy company;

(b)

state the full name and address of the energy administrator;

(c)

give details of the energy administrator’s appointment; and

(d)

specify an address to which members can write for a copy of the statement of proposals.

(6)

This notice must be published as soon as reasonably practicable after the energy administrator sends his statement of proposals to the protected energy company’s creditors but no later than 8 weeks (or such other period as the court may order) from the date that the protected energy company entered energy administration.

Annotations

Commencement

I1: Rule 20 in force at 1.10.2005, see rule 1

Footnotes

f1: 1986 c. 45; section 176A inserted by the Enterprise Act 2002 c. 40, section 252.