Part XXIV Insolvency
Administration orders
F1361Administrator’s duty to report to Authority
(1)
This section applies where a company or partnership is—
(a)
in administration within the meaning of Schedule B1 to the 1986 Act, or
F2(b)
in administration within the meaning of Schedule B1 to the 1989 Order.
(2)
If the administrator thinks that the company or partnership is carrying on or has carried on a regulated activity in contravention of the general prohibition, he must report to the Authority without delay.
(3)
Subsection (2) does not apply where the administration arises out of an administration order made on an application made or petition presented by the Authority.