[F149.—(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.N.I.
(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).]
F1Sch. B1 inserted (27.3.2006) by Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10)), arts. 1(3), 3(2), Sch. 1 (with art. 4); S.R. 2006/21, art. 2 (with S.R. 2006/22, arts. 2-7)
Modifications etc. (not altering text)
C1Sch. B1 para. 49 applied (with modifications) (4.1.2024) by S.I. 2021/716, reg. 37A (as inserted by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 12)
C2Sch. B1 applied (with modifications) (4.1.2024) by S.I. 2021/716, Sch. 2A para. 6 (as inserted by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), reg. 1(2), Sch. 2)