Part XXIV Insolvency

Administration orders

F1C1361Administrator’s duty to report to Authority

1

This section applies where a company or partnership is—

a

in administration within the meaning of Schedule B1 to the 1986 Act, or

b

the subject of an administration order under Part III of the 1989 Order.

2

If the administrator thinks that the company or partnership is carrying on or has carried on a regulated activity in contravention of the general prohibition, he must report to the Authority without delay.

3

Subsection (2) does not apply where the administration arises out of an administration order made on an application made or petition presented by the Authority.