Section 131: Company's statement of affairs., Insolvency Act 1986

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 (3) below to make out and submit to him a statement in the prescribed form as to the affairs of the company.

The statement . . . shall show—

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

the names and addresses of the company's 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 or as the official receiver may require

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

in the case of an appointment of a provisional liquidator or a winding up by the court in England and Wales be verified by the persons required to submit it, by a statement of truth; and

in the case of an appointment of a provisional liquidator or a winding up by the court in Scotland, by affidavit contain a statutory declaration by the persons required to submit it.

The persons referred to in subsection (1) are—

those who are or have been officers of the company;

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

those who are in the company's employment, or have been in its employment within that year, and are in the official receiver's opinion capable of giving the information required;

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.

Where any persons are required under this section to submit a statement of affairs to the official receiver, 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 official receiver.

The official receiver, if he thinks fit, may—

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

either when giving the notice mentioned in subsection (4) 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.

In this section—

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

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

"employment" includes employment under a contract for services; and
"the relevant date" means—

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.

In the application of this section to Scotland references to the official receiver are to the liquidator or, in a case where a provisional liquidator is appointed, the provisional liquidator.

Section 131: Company's statement of affairs.

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