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Rule 5.47 Supervisor’s accounts and reportsF1F2

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)

The supervisor shall keep accounts and records of his acts and dealings in and in connection with the arrangement, including in particular records of all receipts and payments of money.

(2)

The supervisor shall, not less often than once in every 12 months beginning with the date of his appointment—

(a)

prepare a report on the progress of the voluntary arrangement, including a summary of receipts and payments; and

(b)

send copies of it to—

(i)

the debtor; and

(ii)

all of the debtor’s creditors of whom he is aware,

and if in any period of 12 months he has made no payments and had no receipts, he shall at the end of that period send a statement to that effect to those specified in sub-paragraphs (a) and (b) above.

(3)

A report provided under paragraph (2) shall relate to a period beginning with the date of the supervisor’s appointment or (as the case may be) the day following the end of the last period for which a report was prepared under this Rule; and copies of the report shall be sent, as required by paragraph (2), within the 2 months following the end of the period to which the report relates.

Annotations

Textual amendments

F1

Pt. 5 substituted (1.1.2003) by The Insolvency (Amendment) (No. 2) Rules 2002 (S.I. 2002/2712), rule 1(1), Sch. para. 24 (with rule 3(2))

F2

Pt. 5 Chs. 7-12 substituted for Pt. 5 Ch. 7 (1.4.2004) by The Insolvency (Amendment) Rules 2003 (S.I. 2003/1730), rule 1(3), Sch. 1 para. 31