Entire section Link Text Only Rich Text Print Custom print

Article 45 - Statement to be annexed to proposals

There shall be annexed to the Administrator's proposals, when sent to the CRO under Article 39 and laid before the creditors' meeting to be summoned under that Article, a statement by him showing:

(1) details relating to his appointment as Administrator, the purposes of the administration, and any subsequent variation of these purposes;
(2) the names of the directors and secretary of the Company;
(3) an account of the circumstances giving rise to the administration;
(4) if a statement of affairs has been submitted, a copy or summary of it, with the Administrator's comments, if any;
(5) if no statement of affairs has been submitted, details of the financial position of the Company at the latest practicable date (which must, unless the QFC Court otherwise orders, be a date not earlier than that of the start of the administration);
(6) the manner in which the affairs and business of the Company:
(A) have, since the date of the Administrator's appointment, been managed and financed; and
(B) will, if the Administrator's proposals are approved, continue to be managed and financed; and
(7) such other information (if any) as the Administrator thinks necessary to enable creditors to decide whether or not to vote for the adoption of the proposals.