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162. Notice and advertisement of appointment

(1) When an administrative receiver is appointed, he shall —
(a) within seven (7) days of his appointment, give notice of his appointment to the Company and to the Registrar;
(b) within twenty-eight (28) days of his appointment, send a notice of his appointment to the creditors of the Company (so far as he is aware of their addresses).
(2) The administrative receiver must also publish in the Abu Dhabi Global Market, in such manner as he thinks appropriate, the following information —
(a) that an administrative receiver has been appointed;
(b) the registered name of the Company, as at the date of the appointment, and its registered number;
(c) any other name with which the Company has been registered in the twelve (12) months preceding that date;
(d) any name under which the Company has traded at any time in those twelve (12) months, if substantially different from its then registered name;
(e) the name and address of the administrative receiver and the date of his appointment;
(f) the name of the person by whom the appointment was made;
(g) the date of the instrument conferring the power under which the appointment was made, and a brief description of the instrument;
(h) the nature of the business of the Company; and
(i) a brief description of the assets of the Company to which the administrative receiver has been appointed.
(3) If the administrative receiver without reasonable excuse fails to comply with this Section, he commits a contravention and is liable to a fine at the relevant level set out in the Fines Schedule.