Article 5.5 Abstract of receipts and payments
The special railway administrator shall—
within 2 months after the end of 6 months from the date of his appointment, and of every subsequent period of 6 months, and
within 2 months after he ceases to act as special railway administrator,
send the requisite accounts of the receipts and payments of the protected railway company to the court, and to the registrar of companies except where the protected railway company is an unregistered company which is not subject to a requirement imposed under or by virtue of section 691(1) or 718 of the Companies Act to deliver any documents to the registrar of companies.
The court may, on the application of the special railway administrator, extend the period of two months mentioned above.
The accounts are to be in the form of an abstract showing—
receipts and payments during the relevant period of 6 months, or
where the special railway administrator has ceased to act, receipts and payments during the period from the end of the last 6 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 special railway administrator).
[Form 12]
The special railway administrator is guilty of an offence if he makes default in complying with this Rule and is liable on summary conviction to a fine not exceeding one fifth of the statutory maximum and, for continued contravention, to a daily default fine not exceeding one-fiftieth of the statutory maximum.
In this Rule “the statutory maximum” means the prescribed sum under section 32 of the Magistrates Courts Act 1980f1.
Annotations
Footnotes
- f1