The PPP Administration Order Rules 2007

Prospective

Contents of affidavit E+W

5.—(1) The affidavit shall state that the company is a PPP company within the meaning of Part 4 of the 1999 Act.

(2) The affidavit shall state one or both of the following—

(a) the deponent’s belief that the PPP company is, or is likely to become, unable to pay its debts and the grounds for that belief;

(b) that the Secretary of State has certified that it would be appropriate for him to petition for the winding up of the PPP company under section 124A (petition for winding up on grounds of public interest) of the 1986 Act(1) and that in his view it would be just and equitable, as mentioned in that section, for the company to be wound up.

(3) There shall, in the affidavit, be provided a statement of the PPP company’s financial position, specifying (to the best of the deponent’s knowledge and belief) the assets and liabilities of the company, including contingent and prospective liabilities.

(4) Details shall be given of any security known or believed to be held by creditors of the PPP company, and whether in any case the security is such as to confer power on the holder to appoint an administrative receiver. If an administrative receiver has been appointed, that fact shall be stated.

(5) So far as within the immediate knowledge of the deponent, the affidavit shall contain details of—

(a) any petition which has been presented for the winding up of the PPP company;

(b) any application for the permission of the court to pass a resolution for the voluntary winding up of the PPP company;

(c) any application for an administration order under Part 2 of the 1986 Act in relation to the PPP company;

(d) any notice served in accordance with section 223(7) of the 1999 Act by any person intending to enforce any security over a PPP company’s property; and

(e) any step taken to enforce any such security.

(6) If there are other matters which, in the opinion of the person intending to present the petition for a PPP administration order, will assist the court in deciding whether to make such an order, those matters shall also be stated in the affidavit.

Commencement Information

I1 Rule 5 in force at 30.11.2007, see rule 1

(1)

Section 124A was inserted by the Companies Act 1989 (c.40), section 60(3). Section 124A was amended by the Companies (Audit, Investigations and Community Enterprise) Act 2004 (c.27), section 25(1) and Schedule 2, and by S.I. 2001/3649, article 305.