Section 199: Further report by receiver

199. Further report by receiver (1) Not later than 2 months after— (a) the end of each period of 6 months after his appointment as receiver; and (b) the date on which the receivership ends, a receiver or a person who was a receiver at the end of the receivership, as the case may be, shall prepare a further report summarising the state of affairs with respect to the property in receivership as at those dates, and the conduct of the receivership, including all amounts received and paid, during the periods to which the report relates. (2) The report shall include details of— (a) property disposed of since the date of any previous report and any proposals for the disposal of property in receivership; (b) amounts owing, as at the date of the report, to any person in whose interests the receiver was appointed; (c) amounts owing, as at the date of the report, to creditors of the chargor who have preferential claims; and (d) amounts likely to be available as at the date of the report for payment to creditors other than those referred to in paragraph (b) or (c). (3) A receiver may omit from the report required to be prepared in accordance with subsection (1) (a) details of any proposals for disposal of property in receivership if he considers that their inclusion would materially prejudice the exercise of his functions.