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Insolvency Act 1976

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This is the original version (as it was originally enacted).

2Audit of accounts of trustees in bankruptcy and liquidators

(1)The Secretary of State may cause any accounts sent to him under section 92 of the Bankruptcy Act 1914 or section 249 of the Companies Act 1948 (periodic accounts of trustees in bankruptcy and liquidators) to be audited; and so much of subsection (3) of each of those sections as requires him to cause every such account to be audited shall cease to have effect.

(2)So much of subsection (3) of each of those sections as enables the Secretary of State to call for vouchers and information and to require the production of and to inspect books and accounts shall apply whether or not he decides to cause an account to be audited and shall extend to production and inspection at the premises of the trustee or liquidator.

(3)Where the Secretary of State decides not to cause an account to be audited, subsection (4) of each of those sections shall apply as if it required copies of the accounts to be filed or delivered for filing forthwith, and the liquidator shall comply with subsection (5) of the said section 249 when notified of the decision.

(4)Only the copy filed with the court shall be open to inspection under subsection (4) of the said sections 92 and 249.

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