The Energy Administration (Scotland) Rules 2006

Procedure after accounting period

42.—(1) Within two weeks after the end of an accounting period, the energy administrator shall in respect of that period submit to the court–

(a) his accounts of his intromissions with the assets of the protected energy company for audit and, where funds are available after making allowance for contingencies, a scheme of division of the divisible funds; and

(b) a claim for the outlays reasonably incurred by him and for his remuneration.

(2) The energy administrator may, at any time before the end of an accounting period, submit to the court an interim claim in respect of that period for the outlays reasonably incurred by him and for his remuneration and the court may make an interim determination in relation to the amount of the outlays and remuneration payable to the energy administrator and, where it does so, it shall take into account that interim determination when making its determination under paragraph (3)(a)(ii).

(3) Within six weeks after the end of an accounting period–

(a) the court–

(i) may audit the accounts; and

(ii) shall issue a determination fixing the amount of the outlays and the remuneration payable to the energy administrator; and

(b) the energy administrator shall make the audited accounts, scheme of division and the said determination available for inspection by the members and the creditors.

(4) The basis for fixing the amount of the remuneration payable to the energy administrator shall take into account–

(a) the work which, having regard to that value, was reasonably undertaken by him; and

(b) the extent of his responsibilities in administering the protected energy company’s assets.

(5) In fixing the amount of such remuneration in respect of any accounting period, the court may take into account any adjustment which it may wish to make in the amount of the remuneration and outlays fixed in respect of any earlier accounting period.

(6) Not later than eight weeks after the end of an accounting period, the energy administrator, the protected energy company or any creditor may appeal against a determination issued under paragraph (2) or (3)(a)(ii) above and the decision of the court on such appeal shall be final.

(7) On the expiry of the period within which an appeal may be taken under paragraph (5) above or, if an appeal is so taken, on the final determination of the last such appeal, the energy administrator shall pay to the creditors their dividends in accordance with the scheme of division.

(8) Any dividend–

(a) allocated to a creditor which is not cashed or uplifted; or

(b) dependent on a claim in respect of which an amount has been set aside under paragraphs (8) or (9) of Rule 41,

shall be deposited by the energy administrator in an appropriate bank or institution.

(9) If a creditor’s claim is revalued, the energy administrator may–

(a) in paying any dividend to that creditor, make such adjustment to it as he considers necessary to take account of that revaluation; or

(b) require the creditor to repay him the whole or part of a dividend already paid to him.

(10) The energy administrator shall insert in the sederunt book the audited accounts, the scheme of division and final determination in relation to the energy administrator’s outlays and remuneration.

(11) For the purposes of paragraph 99(3) of Schedule B1 to the 1986 Act, the former energy administrator’s remuneration and expenses shall comprise all those items set out in Rule 40.

(12) Where there are joint energy administrators –

(a) it is for them to agree between themselves as to how the remuneration payable should be apportioned,

(b) if they cannot agree as to how the remuneration payable should be apportioned, any one of them may refer the issue for determination by the court.