The Insolvency (Scotland) (Receivership and Winding up) Rules 2018

CHAPTER 2 Appointment of receiver by the court under section 51(2)

[Note: a document required by the Act or these Rules must also contain the standard contents required as set out in Part 1.]

Notice under section 54(3)(1)

2.4.—(1) The notice which is required to be delivered to the registrar of companies and AiB by or on behalf of the petitioner under section 54(3) must—

(a) state the name and address of the holder of the floating charge;

(b) state that the receiver was appointed by the court on behalf of the holder of the floating charge as receiver of that part of the property of the company which is subject to the floating charge;

(c) contain the information about the floating charge described in paragraph (2);

(d) contain the information about the circumstances justifying the appointment described in paragraph (3).

(2) The information about the floating charge is—

(a) the name of the person first named in the charge among the persons entitled to the benefit of it (or, in the case of a series of secured debentures, the name of the holder of the first such debenture to be issued);

(b) the amount secured by the charge;

(c) the date of registration of the charge.

(3) The information about the circumstances justifying the appointment is—

(a) where the circumstances justifying the appointment are provided for in the instrument creating the floating charge, the event which by the provisions of the instrument entitles the holder of the floating charge to make the appointment; or

(b) where the circumstances justifying the appointment are not provided for in the instrument creating the floating charge, which of the events in section 52(2) entitles the holder of the floating charge to make the appointment.

(1)

Rule 2.4 is included in the Rules by virtue of article 2 of S.S.I. 2017/209 - see section 70 and 71 of the Act.