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Rule 1.7 Nominee's report on the proposalI1

England and Wales

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

  • rule 4.54(5-CVL) substituted for rule 4.54(5) by Insolvency 2010 Sch. 1 para. 179(5)
(1)

With his report to the court under section 2 the nominee shall deliver—

(a)

a copy of the directors' proposal (with amendments, if any, authorised under Rule 1.3(3)); and

(b)

a copy or summary of the company's statement of affairs.

(2)

If the nominee makes known his opinion F1that the directors' proposal has a reasonable prospect of being approved and implemented and that meetings of the company and its creditors should be summoned under section 3, his report shall have annexed to it his comments on the proposal.

If his opinion is otherwise, he shall give his reasons for that opinion.

(3)

The court shall cause the nominee's report to be endorsed with the date on which it is filed in court. Any director, member or creditor of the company is entitled, at all reasonable times on any business day, to inspect the file.

(4)

The nominee shall send a copy of his report, and of his comments (if any), to the company.

Annotations

Textual amendments

F1

Words in rule 1.7(2) inserted (1.1.2003) by The Insolvency (Amendment) (No. 2) Rules 2002 (S.I. 2002/2712), rule 1(1), Sch. para. 3 (with rule 3(2))

Commencement

I1

Rule 1.7 in force at 29.12.1986, see rule 0.1