BODIES CORPORATE (OFFICIAL LIQUIDATIONS) ACT - 1963 (ACT 180)

Section - 19 - Statement of Affairs

(1) There shall, within fourteen days or such other period as the liquidator may in writing allow, be made out and submitted to the liquidator, a statement as to the affairs of the company in a form approved by the liquidator, verified by an affidavit and showing,

(a) particulars of all the assets of the company;

(b) the debts and liabilities of the company including particulars of the company's transactions during such period as the liquidator may in writing specify;

(c) the names, addresses both residential and postal and the occupations of the creditors of the company and the securities held respectively by them together with the dates when the securities were respectively given;

(d) a statement of the reasons for the company's insolvency; and

(e) such further or other information as the liquidator may require.

(2) The statement shall be submitted and verified by one or more of the persons who were at the commencement of the winding up directors of the company and by the person who was at that date a secretary of the company, or by such of the persons hereinafter in this subsection mentioned as the liquidator may require to submit and verify the statement, that is to say, persons,

(a) who are or have been officers of the company;

(b) who have taken part in the formation of the company at any time within one year before the commencement of the winding up;

(c) who are in the employment of the company, or have been in the employment of the company within one year before the commencement of the winding up, and are in the opinion of the liquidator capable of giving the information required;

(d) who are or have been within one year from before the commencement of the winding up officers of or in the employment of the company which is or within one year before the commencement of the winding up was an officer of the company to which the statement relates.

(3) Any person making or concurring in making the statement and affidavit required by this section shall be allowed, and shall be paid by the liquidator out of the assets of the company, such costs and expenses incurred in and about the preparation and making of the statement and affidavit as the liquidator may consider reasonable subject to an appeal to the Court.

(4) Any person who without reasonable excuse makes default in complying with the requirements of this section commits an offence and shall be liable to a fine not exceeding ten pounds for every day during which the default continues.

(5) Any person stating himself in writing to be a creditor, member or a contributory of the company shall be entitled by himself or by his agent at all reasonable times on payment of the prescribed fees to inspect the statement submitted in pursuance of this section and to a copy thereof or an extract therefrom.

(6) Any person who untruthfully states himself in writing to be a creditor, member or a contributory of the company commits the offence of contempt of court and shall, on the application of the liquidator, be punishable accordingly.