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The Insolvency (England and Wales) Rules 2016

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Changes over time for: CHAPTER 5

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Point in time view as at 30/09/2021.

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There are currently no known outstanding effects for the The Insolvency (England and Wales) Rules 2016, CHAPTER 5. Help about Changes to Legislation

CHAPTER 5E+WSupply of information by the office-holder to the committee

[Note: a document required by the Act or these Rules must also contain the standard contents set out in Part 1.]

Notice requiring office-holder to attend the creditors' committee (administration and administrative receivership) (paragraph 57(3)(a) of Schedule B1 and section 49(2))E+W

[Note: in an administration paragraph 57(3) of Schedule B1 enables the creditors' committee to require the administrator to provide the committee with information: section 49(2) makes similar provision in an administrative receivership.]

17.22.—(1) This rule applies where—

(a)a committee in an administration resolves under paragraph 57(3)(a) of Schedule B1 to require the attendance of an administrator; or

(b)a committee in an administrative receivership resolves under section 49(2) to require the attendance of the administrative receiver.

(2) The notice delivered to the office-holder requiring the office-holder's attendance must be—

(a)accompanied by a copy of the resolution; and

(b)authenticated by a member of the committee.

(3) A member's representative may authenticate the notice for the member.

(4) The meeting at which the office-holder's attendance is required must be fixed by the committee for a business day, and must be held at such time and place as the office-holder determines.

(5) Where the office-holder so attends, the committee may elect one of their number to be chair of the meeting in place of the office-holder or an appointed person.

Office-holder's obligation to supply information to the committee (winding up and bankruptcy)E+W

[Note: see section 49(2) and paragraph 57(3) of Schedule B1 for the office-holder's duty in an administrative receivership and an administration to supply information to the creditors' committee.]

17.23.—(1) This rule applies in relation to a creditors' voluntary winding up, a winding up by the court and a bankruptcy.

(2) The office-holder must deliver a report to every member of the liquidation committee or the creditors' committee (as appropriate) containing the information required by paragraph (3)—

(a)not less than once in every period of six months (unless the committee agrees otherwise); and

(b)when directed to do so by the committee.

(3) The required information is a report setting out—

(a)the position generally in relation to the progress of the proceedings; and

(b)any matters arising in connection with them to which the office-holder considers the committee's attention should be drawn.

(4) The office-holder must, as soon as reasonably practicable after being directed by the committee—

(a)deliver any report directed under paragraph (2)(b);

(b)comply with a request by the committee for information.

(5) However the office-holder need not comply with such a direction where it appears to the office-holder that—

(a)the direction is frivolous or unreasonable;

(b)the cost of complying would be excessive, having regard to the relative importance of the information; or

(c)there are insufficient assets to enable the office-holder to comply.

(6) Where the committee has come into being more than 28 days after the appointment of the office-holder, the office-holder must make a summary report to the members of the committee of what actions the office-holder has taken since the office-holder's appointment, and must answer such questions as they may put to the office-holder relating to the office-holder's conduct of the proceedings so far.

(7) A person who becomes a member of the committee at any time after its first establishment is not entitled to require a report under this rule by the office-holder of any matters previously arising, other than a summary report.

(8) Nothing in this rule disentitles the committee, or any member of it, from having access to the office-holder's record of the proceedings, or from seeking an explanation of any matter within the committee's responsibility.

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