Monday, September 17, 2012

Filing progress reports in Compulsory Liquidations

As you are aware, in post 6 April 2010 compulsory liquidations you are required to issue annual progress reports under rule 4.49B. You are required to file a copy of the report at Companies House in line with rule 4.49B(7) but what form should you use? A client recently tried to use a Form 4.68, amending the reference from rule 4.49C to 4.49B, to file a progress report but was informed that it was not appropriate to use that form as the Form 4.68 is only applicable in cases of CVLs or MVLs, but that the report would be filed anyway as a miscellaneous document.
Our contact at the Registrar confirmed that the correct action was taken. He also confirmed that the absence of a suitable form was missed when developing their systems and processes for the amendment rules in 2010 and that devising a new form is subject to other competing priorities, although it has made little progress which is understandable.
A timescale could not be provided but it would certainly be picked up when the consolidated rules come into force around 2014.  In the meantime, as there is no covering form, the Registrar will accept the report with a covering letter and we would advise you to do this.