Rule 3.9 Abstract of receipts and payments

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

rule 1.12-1.16E applied 2016 asp 21 s. 14B (as inserted) by Insolvency (Regulation (EU) 2015/848) 2017 reg. 4(8)
Rules applied (with modifications) by Building Society Special Administration 2009 rule 38-41
rule 3.9(1)(b)(i) substituted by Scotland Act 1998 (Consequential Modifications) 1999 Sch. 2 para. 141(2)
Rules applied (with modifications) by Limited Liability Partnerships 2001 reg. 6(1)
Rules specified provisions applied (with modifications) by Collective Investment in Transferable Securities (Contractual Scheme) 2013 Sch. 4

(1)

The receiver shall -

(a)

within 2 months after the end of 12 months from the date of his appointment, and of every subsequent period of 12 months, and

(b)

within 2 months after he ceases to act as receiver,

send the requisite accounts of his receipts and payments as receiver to -Form 3.2 (Scot)

(i)

the registrar of companies,

(ii)

the holder of the floating charge by virtue of which he was appointed,

(iii)

the members of the creditors' committee (if any),

(iv)

the company or, if it is in liquidation, the liquidator.

(2)

The court may, on the receiver's application, extend the period of 2 months referred to in paragraph (1).

(3)

The accounts are to be in the form of an abstract showing -Form 3.2 (Scot)

(a)

receipts and payments during the relevant period of 12 months, or

(b)

where the receiver has ceased to act, receipts and payments during the period from the end of the last 12-month period to the time when he so ceased (alternatively, if there has been no previous abstract, receipts and payments in the period since his appointment as receiver).

(4)

This Rule is without prejudice to the receiver's duty to render proper accounts required otherwise than as above.

(5)

If the receiver makes default in complying with this Rule, he is liable to a fine and, for continued contravention, to a daily default fine.