The Water Industry (Special Administration) Rules 2009

Abstract of receipts and payments

38.—(1) The special administrator of a water company must send accounts of the receipts and payments of the water company to the court and to the registrar of companies—

(a) within 2 months after the end of—

(i) 6 months from the date of appointment; and

(ii) each subsequent 6-month period; and

(b) within 2 months after ceasing to act as special administrator.

(2) The court may, on the application of the special administrator, extend either 2-month period mentioned in paragraph (1).

(3) The accounts must be in the form of an abstract, in Form WAT18, showing—

(a) receipts and payments during the relevant 6-month period; or

(b) if the special administrator has ceased to act—

(i) receipts and payments during the period from the end of the last 6-month period to the time of ceasing to act; or

(ii) if there has been no previous abstract, receipts and payments in the period since the special administrator’s appointment.

(4) It is an offence for the special administrator to fail to comply with this rule, punishable—

(a) on summary conviction, to a fine not exceeding level 3 on the standard scale; and

(b) for continued contravention, to a daily fine not exceeding one-tenth of that amount.