The Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018

[F1 CHAPTER 10 S Replacement of monitor or appointment of additional monitor

Textual Amendments

F1 Pt. 1A inserted (1.10.2021) by The Insolvency (Scotland) (Company Voluntary Arrangements and Administration) (Amendment) Rules 2021 (S.I. 2021/1026), rules 1, 6 (with rules 4, 5)

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

Replacement or additional monitor’s statement and consent to act: standard contents and requirements (section A39(4)) S

1A.22.— (1) A statement by a proposed replacement or additional monitor under section A39(4) must be lodged with the court in accordance with paragraph (2).

(2) The statement must—

(a) be headed “Proposed monitor’s statement and consent to act”;

(b) contain the following—

(i) a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company;

(ii) the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation;

(iii) the proposed monitor’s IP number; and

(iv) a statement that the proposed monitor consents to act as a replacement monitor or, as the case may be, an additional monitor, in relation to the company;

(c) indicate the date on which the statement was made;

(d) be authenticated by the proposed replacement monitor or, as the case may be, the proposed additional monitor; and

(e) be made within the period of 5 business days ending with the day on which the statement is lodged with the court.

Notice to be given by monitor of replacement of monitor or appointment of additional monitor (section A39(8)) S

1A.23.— (1) Notification of the appointment of a replacement monitor or, as the case may be, the appointment of an additional monitor, by virtue of an order under section A39(1) must be delivered—

(a) to each of the persons specified in section A39(8) (as applicable); and

(b) where paragraph (2) applies, in accordance with that paragraph.

(2) Paragraph (3) applies where—

(a) notification is required to given to any of the persons referred to in section A39(8)(b) to (d); or

(b) the moratorium is for a company which is a regulated company within the meaning given by section A49(13).

(3) Where this paragraph applies the monitor must deliver a copy of the document delivered to the registrar of companies to—

(a) the persons referred to in section A39(8)(b) to (d), for the purpose of giving the notification required by those paragraphs; and

(b) the appropriate regulator for the purpose of giving the notification required by section A49(3).]