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The Insolvency Regulations 1994
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Financial records
24.—(1) The trustee shall prepare and keep—
(a)separate financial records in respect of each bankrupt; and
(b)such other financial records as are required to explain the receipts and payments entered in the records described in sub-paragraph (a) above or regulation 26 below, including an explanation of the source of any receipts and the destination of any payments;
and shall, subject to regulation 26 below as to trading accounts, from day to day enter in those records all the receipts and payments made by him.
(2) The trustee shall obtain and keep bank statements relating to any local bank account in the name of the bankrupt.
(3) The trustee shall submit financial records to the creditors' committee when required for inspection.
(4) If the creditors' committee is not satisfied with the contents of the financial records submitted under paragraph (3) above it may so inform the Secretary of State, giving the reasons for its dissatisfaction and the Secretary of State may take such action as he thinks fit.
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