Insolvency Act · s 109

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109.
Statement of affairs
(1) Where the Court has made a winding up order or appointed a provisional liquidator, the Official Receiver may require some or all of the persons mentioned in subsection (4) to make out and submit to him a statement, in the prescribed form, as to the affairs of the company.
(2) The statement as to the affairs of the company shall show —
(a) particulars of the company’s assets, debts and liabilities;
(b) the names, addresses and occupation of the company’s creditors;
(c) the securities held by them respectively;
(d) the dates when the securities were respectively given; and
(e) such further or other information as may be prescribed or as the Official Receiver may require.
(3) The statement shall be verified by the persons required to submit it by an affidavit.
(4) The persons referred to in subsection (1) are —
(a) those who are or have at any time been officers of the company;
(b) those who have taken part in the formation of the company at any time within one year before the relevant date;
(c) those who are in the employment of the company, or have been in the employment of the company within that year, and are in

Insolvency the opinion of the Official Receiver capable of giving the information which he requires;
(d) those who are or have been within that year officers of, or in the employment of, a company which is, or within that year was, an officer of the company.
(5) Where any person is required under this section to submit a statement as to the affairs of the company to the Official Receiver, he shall do so, subject to subsection (6), 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 Official Receiver.
(6) The Official Receiver, if he thinks fit, may —
(a) at any time release a person from an obligation imposed on him under subsection (1) or (2); or
(b) either when giving the notice mentioned in subsection (5) or subsequently, extend the period so mentioned, and where the Official Receiver has refused to exercise a power conferred by this subsection, the Court, if it thinks fit, may exercise it.
(7) A person who, without reasonable excuse, fails to comply with any obligation imposed under this section, is guilty of an offence and liable on conviction to a fine not exceeding $1,000, and, in the case of a continuing offence, with a further fine not exceeding $50 for every day or part thereof during which the offence continues after conviction.
(8) In this section —
“employment” includes employment under a contract for services;
“relevant date” means —
(a) in a case where a provisional liquidator is appointed, the date of his appointment; and
(b) in a case where no such appointment is made, the date of the winding up order.

Insolvency 96

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s 109Statement of affairs

(1)

Where the Court has made a winding up order or appointed a provisional liquidator, the Official Receiver may require some or all of the persons mentioned in subsection (4) to make out and submit to him a statement, in the prescribed form, as to the affairs of the company.

(2)

The statement as to the affairs of the company shall show —

(a)

particulars of the company’s assets, debts and liabilities;

(b)

the names, addresses and occupation of the company’s creditors;

(c)

the securities held by them respectively;

(d)

the dates when the securities were respectively given; and

(e)

such further or other information as may be prescribed or as the Official Receiver may require.

(3)

The statement shall be verified by the persons required to submit it by an affidavit.

(4)

The persons referred to in subsection (1) are —

(a)

those who are or have at any time been officers of the company;

(b)

those who have taken part in the formation of the company at any time within one year before the relevant date;

(c)

those who are in the employment of the company, or have been in the employment of the company within that year, and are in

Insolvency the opinion of the Official Receiver capable of giving the information which he requires;

(d)

those who are or have been within that year officers of, or in the employment of, a company which is, or within that year was, an officer of the company.

(5)

Where any person is required under this section to submit a statement as to the affairs of the company to the Official Receiver, he shall do so, subject to subsection (6), 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 Official Receiver.

(6)

The Official Receiver, if he thinks fit, may —

(a)

at any time release a person from an obligation imposed on him under subsection (1) or (2); or

(b)

either when giving the notice mentioned in subsection (5) or subsequently, extend the period so mentioned, and where the Official Receiver has refused to exercise a power conferred by this subsection, the Court, if it thinks fit, may exercise it.

(7)

A person who, without reasonable excuse, fails to comply with any obligation imposed under this section, is guilty of an offence and liable on conviction to a fine not exceeding $1,000, and, in the case of a continuing offence, with a further fine not exceeding $50 for every day or part thereof during which the offence continues after conviction.

(8)

In this section —

“employment” includes employment under a contract for services;

“relevant date” means —

(a)

in a case where a provisional liquidator is appointed, the date of his appointment; and

(b)

in a case where no such appointment is made, the date of the winding up order.

Insolvency 96