Section 48: Report by administrative receiver., Insolvency Act 1986

Where an administrative receiver is appointed, he shall, within 3 months (or such longer period as the court may allow) after his appointment, send to the registrar of companies, to any trustees for secured creditors of the company and (so far as he is aware of their addresses) to all such creditors , other than opted-out creditors, a report as to the following matters, namely—

the events leading up to his appointment, so far as he is aware of them;

the disposal or proposed disposal by him of any property of the company and the carrying on or proposed carrying on by him of any business of the company;

the amounts of principal and interest payable to the debenture holders by whom or on whose behalf he was appointed and the amounts payable to preferential creditors; and

the amount (if any) likely to be available for the payment of other creditors.

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Where the company has gone or goes into liquidation, the administrative receiver—

shall, within 7 days after his compliance with subsection (1) or, if later, the nomination or appointment of the liquidator, send a copy of the report to the liquidator, and

where he does so within the time limited for compliance with subsection (2), is not required to comply with that subsection.

A report under this section shall include a summary of the statement of affairs made out and submitted to the administrative receiver under section 47 and of his comments (if any) upon it.

Nothing in this section is to be taken as requiring any such report to include any information the disclosure of which would seriously prejudice the carrying out by the administrative receiver of his functions.

Section 46(2) applies for the purposes of this section also.

If the administrative receiver without reasonable excuse fails to comply with this section, he is liable to a fine and, for continued contravention, to a daily default fine.

Section 48: Report by administrative receiver.

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