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Section 22: Statement of affairs to be submitted to administrator.

Insolvency Act 1986 · 1986 c. 45View on legislation.gov.uk

Part II: Administration Orders

Where an administration order has been made, the administrator shall forthwith require some or all of the persons mentioned below to make out and submit to him a statement in the prescribed form as to the affairs of the company.

The statement shall be verified by affidavit by the persons required to submit it and shall show—

particulars of the company's assets, debts and liabilities;
the names and addresses of its creditors;
the securities held by them respectively;
the dates when the securities were respectively given; and
such further or other information as may be prescribed.

Where any persons are required under this section to submit a statement of affairs to the administrator, they shall do so (subject to the next subsection) before the end of the period of 21 days beginning with the day after that on which the prescribed notice of the requirement is given to them by the administrator.

The administrator, if he thinks fit, may—

at any time release a person from an obligation imposed on him under subsection (1) or (2), or
either when giving notice under subsection (4) or subsequently, extend the period so mentioned;

and where the administrator has refused to exercise a power conferred by this subsection, the court, if it thinks fit, may exercise it.

If a person without reasonable excuse fails to comply with any obligation imposed under this section, he is liable to a fine and, for continued contravention, to a daily default fine.

About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.