Rule 58 Hand-over of assets to successor energy administrator

This Rule applies where a person appointed as energy administrator (“the succeeding energy administrator”) succeeds a previous energy administrator (“the former energy administrator”).

When the succeeding energy administrator’s appointment takes effect, the former energy administrator shall forthwith do all that is required for putting the succeeding energy administrator into possession of the protected energy company’s assets.

The former energy administrator shall give to the succeeding energy administrator all such information, relating to the affairs of the protected energy company and the course of the energy administration, as the succeeding energy administrator considers to be reasonably required for the effective discharge by him of his duties as such and shall hand over all books, accounts, statements of affairs, statements of claim and other records and documents in his possession relating to the affairs of the protected energy company and its energy administration.