Section 99: Directors to lay statement of affairs before creditors.

Insolvency Act 1986 · 1986 c. 45View on legislation.gov.uk

Part IV: Winding Up of Companies Registered under the Companies Acts — Chapter IV: Creditors' Voluntary Winding Up

The directors of the company must, before the end of the period of 7 days beginning with the day after the day on which the company passes a resolution for voluntary winding up—

make out a statement in the prescribed form as to the affairs of the company, and
send the statement to the company's creditors.

The statement as to the affairs of the company . . . 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.

The statement as to the affairs of the company shall be verified by some or all of the directors—

in the case of a winding up of a company registered in England and Wales, be verified by some or all of the directors by a statement of truth; and
in the case of a winding up of a company registered in Scotland, by affidavit contain a statutory declaration by some or all of the directors.

If the directors without reasonable excuse fail to comply with subsection (1), (2) or (2A), they are guilty of an offence and liable to a fine.

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Reuse reviewed 21 August 2026 under Open Government Licence v3.0.