57. Administrator's statement of proposals

(1) The statement of proposals of an administrator of a Company shall include, in addition to those matters set out in Section 56 (Administrator's proposals) —
(a) details of the relevant Court reference number;
(b) the full name, registered address, registered number and any other trading names of the Company;
(c) details relating to his appointment as administrator, including the date of appointment and the person making the application or appointment and, where there are joint administrators, details of the matters set out in Section 145(2) (Joint administrators);
(d) the names of the Directors and secretary of the Company and details of any shareholdings in the Company they may have;
(e) an account of the circumstances giving rise to the appointment of the administrator of the Company;
(f) if a statement of the Company's affairs has been submitted, a copy or summary of it, with the comments of the administrator of the Company, if any;
(g) if an order limiting the disclosure of the Statement of Affairs (under Section 53 (Limited disclosure)) has been made, a statement of that fact, as well as —
(i) details of who provided the Statement of Affairs;
(ii) the date of the order of limited disclosure; and
(iii) the details or a summary of the details that are not subject to that order;
(h) if a full Statement of Affairs is not provided, the names, addresses and debts of the creditors including details of any security held;
(i) 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 Court otherwise orders, be a date not earlier than that on which the Company entered administration), a list of the Company's creditors including their names, addresses and details of their debts, including any security held, and an explanation as to why there is no Statement of Affairs;
(j) the basis upon which it is proposed that the remuneration of the administrator of the Company should be fixed under Section 109 (Fixing of an administrator's remuneration) and Schedule 12 (Remuneration);
(k) a statement complying with subsection (3) of any pre-administration costs charged or incurred by the administrator of the Company or, to his knowledge, by any other person licensed as an insolvency practitioner;
(l) a statement (which must comply with subsection (4) where that subsection applies) of how it is envisaged the purpose of the administration will be achieved and how it is proposed that the administration shall end;
(m) where the administrator of the Company has decided not to call a meeting of creditors, his reasons;
(n) the manner in which the affairs and business of the Company —
(i) have, since the date of the appointment of the administrator of the Company, been managed and financed, including, where any property has been disposed of, the reasons for such disposals and the terms upon which such disposals were made; and
(ii) will, if the proposals of the administrator of the Company are approved, continue to be managed and financed;
(o) such information as may be recommended to be disclosed by guidance, statements or recommendations, which are approved, adopted or issued by any regulatory authority which has licensed the administrator; and
(p) such other information (if any) as the administrator of the Company thinks necessary to enable creditors to decide whether or not to vote for the adoption of the proposals.
(2) In this Part —
(a) "pre-administration costs" are —
(i) fees charged; and
(ii) expenses incurred,
by the administrator of a Company, or another person licensed as an insolvency practitioner, before the Company entered administration but with a view to its doing so; and
(b) "unpaid pre-administration costs" are pre-administration costs which had not been paid when the Company entered administration.
(3) A statement of pre-administration costs complies with this Section if it includes —
(a) details of any agreement under which the fees were charged and expenses incurred, including the parties to the agreement and the date on which the agreement was made;
(b) details of the work done for which the fees were charged and expenses incurred;
(c) an explanation of why the work was done before the Company entered administration and how it would further the achievement of an objective in Section 2(1) (Purpose of administration) in accordance with Sections 2(2) to 2(4) (Purpose of administration);
(d) a statement of the amount of the pre-administration costs, setting out separately —
(i) the fees charged by the administrator of the Company;
(ii) the expenses incurred by the administrator of the Company;
(iii) the fees charged (to his knowledge) by any other person licensed as an insolvency practitioner (and, if more than one, by each separately); and
(iv) the expenses incurred (to his knowledge) by any other person as an insolvency practitioner (and, if more than one, by each separately);
(e) a statement of the amounts of pre-administration costs which have already been paid (set out separately as under paragraph (d));
(f) the identity of the person who made the payment or, if more than one person made the payment, the identity of each such person and of the amounts paid by each such person set out separately as under paragraph (d);
(g) a statement of the amounts of unpaid pre-administration costs (set out separately as under paragraph (d)); and
(h) a statement that the payment of unpaid pre-administration costs as an expense of the administration is —
(i) subject to approval under Section 108 (Pre-administration costs); and
(ii) not part of the proposals subject to approval under Section 64 (Business and result of initial creditors' meeting).
(4) This subsection applies where it is proposed that the administration will end by the Company moving to a creditors' voluntary liquidation; and in that case, the statement required by subsection (1)(l) must include —
(a) details of the proposed liquidator; and
(b) a statement that the creditors may, before the proposals are approved, nominate a different person as liquidator in accordance with Section 122(6)(a) (Moving to creditors' voluntary liquidation) and Section 123(2)(b) (Moving to creditors' voluntary liquidation).
(5) Where the Court orders, upon an application by the administrator of a Company under Section 151 (Extension of time limit), an extension of the period of time in Section 56(6) (Administrator's proposals), the administrator of the Company must as soon as reasonably practicable after the making of the order —
(a) notify in the prescribed form every creditor of the Company and every member of the Company of whose address (in either case) the administrator of the Company is aware; and
(b) send a copy of the notification to the Registrar.
(6) Where the administrator of a Company has made a statement under Section 61(6) (Requirement for initial creditors' meeting) and has not called an initial meeting of creditors, the proposals sent out under this Section and Section 56 (Administrator's proposals) will (if no meeting has been requisitioned under Section 61(7) (Requirement for initial creditors' meeting) within the period set out in Section 62 (Meeting requisitioned by creditors)) be deemed to have been approved by the creditors.
(7) Where proposals are deemed under subsection (6) to have been approved, the administrator of a Company must, as soon as reasonably practicable after expiry of the period set out in Section 62 (Meeting requisitioned by creditors) give notice of the date on which they were deemed to have been approved to the Registrar, the Court and the creditors; and a copy of the proposals must be attached to the notice given to the Court and to creditors who have not previously received them.
(8) Where the administrator of a Company intends to apply to the Court (or file a notice under Section 115(2) (Termination of administration where objective achieved)) for the administration to cease at a time before he has sent a statement of his proposals to creditors in accordance with Section 56 (Administrator's proposals), he shall, at least seven (7) business days before he makes such an application (or files such a notice), send to all creditors of the Company (so far as he is aware of their addresses) a report containing the information required by subsections (1)(a) to (o) of this Section.
(9) Where the administrator of a Company wishes to publish a notice under Section 56(7) (Administrator's proposals), the notice shall be advertised in such manner as he thinks fit.
(10) In addition to the standard contents, the notice under subsection (9) must state —
(a) that members can write for a copy of the statement of proposals for achieving the purpose of administration; and
(b) the address to which to write.
(11) This notice must be published as soon as reasonably practicable after the administrator of the Company sends his statement of proposals to the Company's creditors but no later than eight (8) weeks (or such other period as may be agreed by the creditors or as the Court may order) from the date that the Company entered administration.