SCHEDULES

C1C2C4C3C5F1SCHEDULE B1ADMINISTRATION

Annotations:
Amendments (Textual)
Modifications etc. (not altering text)
C1

Sch. B1 applied (with modifications) (1.10.2011) by Postal Services Act 2011 (c. 5), ss. 73, 87(1)(2), 93(3), Sch. 10 Pt. 1, Sch. 10 Pt. 2

C2

Sch. B1 applied (with modifications) by S.R. 1995/225, Sch. 2 (as amended (19.12.2018) by The Banks and Building Societies (Priorities on Insolvency) Order 2018 (S.I. 2018/1244), arts. 1(2), 36 (with art. 3))

C4

Sch. B1 modified by S.R. 1995/225, art. 6, Sch. 2 (as modified (28.12.2020 until IP completion day when the amending provision ceases to have effect in accordance with reg. 1(4) of the amending S.I.) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(4), 122(3) (with reg. 108))

C3

Sch. B1 modified (28.12.2020 until IP completion day when the amending provision ceases to have effect in accordance with reg. 1(4) of the amending S.I.) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(4), 120 (with reg. 108)

PROCESS OF ADMINISTRATION

Statement of company's affairs

C6C549

1

A person required to submit a statement of affairs must do so before the end of the period of 11 days beginning with the day on which he receives notice of the requirement.

2

The administrator may—

a

revoke a requirement under paragraph 48(1), or

b

extend the period specified in sub-paragraph (1) (whether before or after expiry).

3

If the administrator refuses a request to act under sub-paragraph (2)—

a

the person whose request is refused may apply to the High Court, and

b

the Court may take action of a kind specified in sub-paragraph (2).

4

A person commits an offence if he fails without reasonable excuse to comply with a requirement under paragraph 48(1).