This section has no associated Explanatory Notes
56E+W+SFor section 361 (administrator to report to Authority) substitute—
“361 Administrator’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.”