# The Insurers (Reorganisation and Winding Up) Regulations 2004, Regulation 14: Reports to creditors

Extent: E+W+S+N.I.

(1) This regulation applies where, on or after 20th April 2003—
(a) a liquidator is appointed in accordance with section 100 of the 1986 Act or Article 86 of the 1989 Order (creditors' voluntary winding up: appointment of liquidator) or, on or after 15th September 2003, paragraph 83 of Schedule B1 or paragraph 84 of Schedule B1 to the 1989 Order (moving from administration to creditors' voluntary liquidation);
(b) a winding up order is made by the court;
(c) a provisional liquidator is appointed; or
(d) an administrator is appointed under paragraph 13 of Schedule B1 or under paragraph 14 of Schedule B1 to the 1989 Order.
(2) The liquidator or provisional liquidator (as the case may be) must send to every known creditor a report once in every 12 months beginning with the date when his appointment has effect.
(3) The requirement in paragraph (2) does not apply where a liquidator or provisional liquidator is required by order of the court to send a report to creditors at intervals which are more frequent than those required by this regulation.
(4) This regulation is without prejudice to any requirement to send a report to creditors, imposed by the court on the liquidator or provisional liquidator, which is supplementary to the requirements of this regulation.
(5) A liquidator or provisional liquidator commits an offence if he fails without reasonable excuse to comply with an applicable requirement under this regulation, and is liable on summary conviction to a fine not exceeding level 3 on the standard scale.
(6) For the purposes of this regulation—
(a) “known creditor” means—
(i) a creditor who is known to the liquidator or provisional liquidator, and
(ii) in a case falling within paragraph (1)(b) or (c), a creditor who is specified in the insurer’s statement of affairs (within the meaning of section 131 of the 1986 Act or Article 111 of the 1989 Order); and
(b) “report” means a written report setting out the position generally as regards the progress of the winding up or provisional liquidation (as the case may be).

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Source: https://www.legislation.gov.uk/uksi/2004/353/regulation/14 (the official version)
Page: https://openlegislation.uk/insurers-reorganisation-and-winding-up-regulations-2004/regulation-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.