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

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This is the original version (as it was originally made).

CHAPTER 6Receiver’s summary of receipts and payments

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

Summary of receipts and payments

2.16.—(1) The receiver must deliver a summary of receipts and payments as receiver to—

(a)AiB;

(b)the company (and if it is then subject to other insolvency proceedings under Parts 1 to 5 of the Act, the office-holder in relation to those insolvency proceedings);

(c)the holder of the floating charge by virtue of which the receiver is appointed; and

(d)each member of the creditors’ committee.

(2) The summary must be delivered to those persons within 2 months after—

(a)the end of the period of 12 months from the date of being appointed;

(b)the end of every subsequent period of 12 months; and

(c)ceasing to act as receiver (unless there is a joint receiver who continues in office).

(3) The court may, on the receiver’s application, extend the period of 2 months referred to in paragraph (2).

(4) The summary must—

(a)contain identification details for the company;

(b)contain identification details for the receiver;

(c)contain contact details for the receiver;

(d)state the date of the receiver’s appointment.

(5) The summary must show receipts and payments—

(a)during the relevant period of 12 months, or

(b)where the receiver has ceased to act, during the period—

(i)from the end of the last 12 month period to the time when the receiver so ceased, or

(ii)if there has been no previous summary, since being appointed.

(6) This rule is without prejudice to the receiver’s duty to produce proper accounts otherwise than as above.

(7) A receiver who makes default in complying with this rule is guilty of an offence.

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