Article 7.7 Progress reports in voluntary winding up: timing and delivery

(1)

This rule applies for the purposes of sections 92A M1 and 104A M2 and prescribes the periods for which reports must be made.

(2)

The liquidator's progress reports in a voluntary winding up must cover the periods of—

(a)

12 months starting on the date the liquidator is appointed; and

(b)

each subsequent period of 12 months.

(3)

The periods for which progress reports are required under paragraph (2) are unaffected by any change in the liquidator.

(4)

However where a liquidator ceases to act the succeeding liquidator must, as soon as reasonably practicable after being appointed, deliver a notice to the members (in a members' voluntary winding up) or to members and creditors (in a creditors' voluntary winding up) of any matters about which the succeeding liquidator thinks the members or creditors should be informed.

(5)

A progress report is not required for any period which ends after a notice is delivered under rule 3.11 (delivery of draft final account to members in members' voluntary winding up) or after the date to which a final account is made up under section 106 M3 and is delivered by the liquidator to members and creditors (creditors' voluntary winding up).

(6)

The liquidator must deliver a copy of each progress report within 6 weeks after the end of the period covered by the report to—

(a)

AiB (who is a prescribed person for the purposes of sections 92A and 104A);

(b)

the members; and

(c)

in a creditors' voluntary liquidation, the creditors.

Annotations

Marginal citations

M1: Section 92A was inserted by S.I. 2010/18 and prospectively amended by section 136(2) and paragraph 16 of schedule 9 of the Small Business, Enterprise and Employment Act 2015 (c.26) (“the 2015 Act”) and S.I. 2016/141, article 5.
M2: Section 104A was inserted by S.I. 2010/18 and prospectively amended by section 136(3) and paragraph 27 of schedule 9 of the 2015 Act and S.I. 2016/141, article 6.
M3: A new section 106 is substituted by paragraph 29 of schedule 9 of the 2015 Act. See also rule 4.30.