69. Reports to creditors

(1) "Progress report" means a report which includes —
(a) details of the relevant Court reference number;
(b) full details of the Company's name, address of registered office and registered number;
(c) full details of the name, address and date of appointment of the administrator of the Company and name and address of appointor, including any changes in Office-holder, and, in the case of joint administrators of a Company, their functions as set out in the statement made for the purposes of Section 145(2) (Joint administrators);
(d) details of any extensions to the initial period of appointment;
(e) details of the basis fixed for the remuneration of the administrator of the Company under Section 109 (Fixing of administrator's remuneration) and Schedule 12 (Remuneration) (or if not fixed at the date of the report, the steps taken during the period of the report to fix it);
(f) if the basis of remuneration has been fixed, a statement of —
(i) the remuneration charged by the administrator of the Company during the period of the report (subject to subsection (3)); and
(ii) where the report is the first to be made after the basis has been fixed, the remuneration charged by the administrator of the Company during the periods covered by the previous reports (subject to subsection (3)), together with a description of the things done by the administrator of the Company during those periods in respect of which the remuneration was charged,
irrespective in either case of whether payment was made in respect of that remuneration during the period of the report;
(g) a statement of the expenses incurred by the administrator of the Company during the period of the report, irrespective of whether payment was made in respect of them during that period;
(h) details of progress during the period of the report, including a receipts and payments account (as detailed in subsection (2));
(i) details of any assets that remain to be realised;
(j) a statement of the creditors' right to request information under Section 70 (Creditors' request for further information) and their right to challenge the remuneration and expenses of the administrator of the Company under paragraph 9 of Schedule 12 (Remuneration); and
(k) any other relevant information for the creditors.
(2) A receipts and payments account must be in the form of an abstract showing receipts and payments during the period of the report.
(3) Where the basis for the remuneration is a set amount under Section 109 (Fixing of an administrator's remuneration) and Schedule 12 (Remuneration), it may be shown as that amount without any apportionment to the period of the report.
(4) Where the administrator of a Company has made a statement of pre-administration costs under Section 57(1)(k) (Administrator's Statement of Proposals)
(a) if they are approved under Section 108 (Pre-administration costs), the first progress report after the approval must include a statement setting out the date of the approval and the amounts approved;
(b) each successive report, so long as any of the costs remain unapproved, must include a statement either —
(i) of any steps taken to get approval; or
(ii) that the administrator of the Company has decided, or (as the case may be) another insolvency practitioner entitled to seek approval has told the administrator of the Company of that insolvency practitioner's decision, not to seek approval.
(5) The progress report must, except where subsection (6) or (7) applies, cover the period of six (6) months commencing on the date on which the Company entered administration and every subsequent period of six (6) months.
(6) The period to be covered by a progress report ends on the date when an administrator of a Company ceases to act, and the period to be covered by each subsequent progress report is each successive period of six (6) months beginning immediately after that date (subject to the further application of this subsection when another administrator of the Company ceases to act).
(7) The sending of a progress report to creditors under Section 118 (Application for extension of administration) also satisfies subsection (5) or (6) in respect of the period covered by that report; and the period to be covered by each subsequent progress report under this Section is each successive period of six (6) months beginning with the end of the period covered by the report under Section 118 (Application for extension of administration).
(8) The administrator of a Company must, within one (1) month of the end of the period covered by the report, send —
(a) a copy to the creditors attached to the prescribed form; and
(b) a copy to the Registrar,
but this subsection does not apply when the period covered by the report is that of a final progress report under Section 111 (Final progress reports).
(9) The Court may, on the application of the administrator of a Company, extend the period of one (1) month mentioned in subsection (8), or make such other order in respect of the content of the report as it thinks just.
(10) If the administrator of a Company makes default in complying with this Section, he commits a contravention and is liable to a fine at the relevant level set out in the Fines Schedule.