94. Deed progress reports

(1) The administrator of a Deed of Company Arrangement must, within one month after —
(a) the end of the 6-month period beginning on the date of his appointment; and
(b) the end of each subsequent 6-month period during which he is the administrator of the Deed of Company Arrangement;
publish a progress report that —
(c) is in the prescribed form;
(d) is verified by a written statement;
(e) shows his receipts and payments during the relevant 6-month period; and
(f) in the case of the second or subsequent progress reports published under this subsection, also shows the aggregate amount of receipts and payments during all preceding 6-month periods since his appointment.
(2) A person who ceases to be the administrator of a Deed of Company Arrangement must, within one month after the cessation, publish a final progress report that —
(a) is in the prescribed form;
(b) is verified by a written statement;
(c) if he has previously been required to publish a progress report under subsection (1), shows his receipts and payments during the period —
(i) beginning at the end of the 6-month period to which the most recent progress report under subsection (1) related; and
(ii) ending at the cessation;
(d) if he has previously been required to publish a progress report under subsection (1), also shows the aggregate amount of receipts and payments during all previous 6-month periods since his appointment; and
(e) if he has not previously been required to publish a progress report under subsection (1), shows his receipts and payments during the period beginning on —
(i) the date of his appointment; and
(ii) ending at the cessation.
(3) If a report is published under subsection (1) or (2), the Registrar may cause the progress report to be audited by a registered company auditor.
(4) The auditor must prepare a report on the progress report.
(5) For the purposes of the audit under subsection (3), the administrator or former administrator must give the auditor such books and information as the auditor requires.
(6) If the Registrar causes a progress report to be audited under subsection (3) —
(a) the Registrar must give the administrator or former administrator a copy of the report by the auditor; and
(b) Section 470 (Auditor's general right to information) of the Companies Regulations 2015 applies in relation to the report prepared by the auditor as if it were a document required to be published.
(7) The costs of an audit under this Section are to be fixed by the Registrar, and are payable by the Company.