Companies Act 1985

496 Company's statement of affairs

(1) The company's statement of affairs required by section 495 to be submitted to the receiver (or his successor) shall show as at the date of the receiver's appointment—

(a) the particulars of the company's assets, debts and liabilities,

(b) the names, residences and occupations of its 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.

(2) The statement shall be submitted by, and be verified by affidavit of, one or more of the persons who are at the date of the receiver's appointment the directors and by the person who is at that date the secretary of the company, or by such of the persons mentioned in the next subsection as the receiver (or his successor), subject to the direction of the court, may require to submit and verify the statement.

(3) The persons referred to above are those—

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

(b) who have taken part in the company's formation at any time within one year before the date of the receiver's appointment,

(c) who are in the company's employment, or have been in its employment during that year and are in the receiver's opinion capable of giving the information required,

(d) who are or have been during that year officers of or in the employment of a company which is, or within that year was, an officer of the company to which the statement relates.

(4) A person making the statement and affidavit shall be allowed, and shall be paid by the receiver (or his successor) out of his receipts, such costs and expenses incurred in and about the preparation and making of the statement and affidavit as the receiver (or his successor) may consider reasonable, subject to an appeal to the court.

(5) Where the receiver is appointed under powers contained in an instrument, this section applies with the substitution for references to the court of references to the Secretary of State, and for references to an affidavit of references to a statutory declaration ; and in any other case references to the court are to the court by which the receiver was appointed.

(6) If a person without reasonable excuse makes default in complying with the requirements of this section, he is liable to a fine and, for continued contravention, to a daily default fine.

(7) References in this section to the receiver's successor include a continuing receiver or manager.