Section 48(1)

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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Source: legislation.gov.uk · retrieved 2026-09-04