# The Payment and Electronic Money Institution Insolvency (Scotland) Rules 2022, Rule 142: Administrator’s duties on vacating office

Extent: S

(1) Where the administrator (‘A’) ceases to be in office in consequence of this Chapter, A is under an obligation as soon as is reasonably practicable to deliver up to the person succeeding A as administrator (‘B’)—
(a) the assets (after deduction of any expenses properly incurred and distributions made by A),
(b) the records of the special administration, including correspondence, statements of claim and other related papers appertaining to the special administration while it was within A’s responsibility,
(c) the institution’s books, papers and other records.
(2) If A makes default in complying with this rule, A is guilty of an offence.

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Source: https://www.legislation.gov.uk/uksi/2022/1239/rule/142 (the official version)
Page: https://openlegislation.uk/payment-and-electronic-money-institution-insolvency-scotland-rules-2022/rule-142
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.