Reports to creditors
34.—(1) The postal administrator must prepare a report (“the progress report”) which includes—
(a)details of the court where the proceedings are and the relevant court reference number;
(b)full details of the company’s name, address of registered office and registered number;
(c)full details of the postal administrator’s name and address, date of appointment and name and address of applicant for the postal administration application, including any changes in the postal administrator, and, in the case of joint postal administrators, their functions as set out in the statement made for the purposes of section 72(5) of the 2011 Act;
(d)details of progress during the period of the report, including a receipts and payments account (as detailed in paragraph (2) of this Rule);
(e)details of any assets that remain to be realised; and
(f)any other relevant information for the creditors.
(2) A receipts and payments account must be in the form of an abstract showing receipts and payments during the period of the report and, where the postal administrator has ceased to act, must also include a statement as to the amount paid to unsecured creditors by virtue of the application of section 176A of the 1986 Act.
(3) The progress report must, except where paragraph (4) of this Rule applies, cover the period of 6 months commencing on the date on which the company entered postal administration and every subsequent period of 6 months.
(4) The period to be covered by a progress report ends on the date when a postal administrator ceases to act, and the period to be covered by each subsequent progress report of a new postal administrator is each successive period of 6 months beginning immediately after that date (subject to the further application of this paragraph when another postal administrator ceases to act).
(5) The postal administrator must send a copy of the progress report within 1 month of the end of the period covered by the report, to —
(a)the Secretary of State;
(b)OFCOM;
(c)the creditors, and
(d)the registrar of companies;
(6) The court may, on the postal administrator’s application, extend the period of 1 month mentioned in paragraph (5) of this Rule, or make such other order in respect of the content of the report as it thinks just.
(7) If the postal administrator makes default in complying with this Rule, the postal administrator is liable to a fine and, for continued contravention, to a daily default fine.