[F1106Final account prior to dissolution.E+W+S
(1)As soon as the company's affairs are fully wound up the liquidator must make up an account of the winding up, showing how it has been conducted and the company's property has been disposed of.
(2)The liquidator must, before the end of the period of 14 days beginning with the day on which the account is made up—
(a)send a copy of the account to the company's members,
(b)send a copy of the account to the company's creditors (other than opted-out creditors), and
(c)give the company's creditors (other than opted-out creditors) a notice explaining the effect of section 173(2)(e) and how they may object to the liquidator's release.
(3)The liquidator must during the relevant period send to the registrar of companies—
(a)a copy of the account, and
(b)a statement of whether any of the company's creditors objected to the liquidator's release.
(4)The relevant period is the period of 7 days beginning with the day after the last day of the period prescribed by the rules as the period within which the creditors may object to the liquidator's release.
[F2(4A)Subsection (4B) applies where, immediately before the liquidator sends a copy of the account of the winding up to the registrar under subsection (3), there are EU insolvency proceedings open in respect of the company in one or more other member States.
(4B)The liquidator must send to the registrar, with the copy of the account, a statement—
(a)identifying those proceedings,
(b) identifying the member State liquidator appointed in each of those proceedings, and
(c)indicating, in relation to each of those member State liquidators, whether that member State liquidator consents to the company being dissolved.]
(5)If the liquidator does not comply with subsection (2) the liquidator is liable to a fine.
(6)If the liquidator does not comply with subsection (3) the liquidator is liable to a fine and, for continued contravention, a daily default fine.]
[F3(7)Subsection (8) applies where, immediately before the liquidator sends a copy of the account of the winding up to the registrar under subsection (3), there are EU insolvency proceedings open in respect of the company in one or more other member States.
(8)The liquidator must send to the registrar, with the copy of the account, a statement—
(a)identifying those proceedings,
(b)identifying the member State liquidator appointed in each of those proceedings, and
(c)indicating, in relation to each of those member State liquidators, whether that member State liquidator consents to the company being dissolved.]
Textual Amendments
F1S. 106 substituted (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force, 6.4.2019 for S. in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 9 para. 29; S.I. 2015/1329, reg. 3(d); S.I. 2016/1020, reg. 4(e) (with reg. 5) (as amended by S.I. 2017/363, reg. 3); S.I. 2019/816, reg. 4(c) (with reg. 5)
F2S. 106(4A)(4B) inserted (E.W.) (26.6.2017) by The Insolvency Amendment (EU 2015/848) Regulations 2017 (S.I. 2017/702), reg. 1, Sch. para. 3 (with regs. 3, 4)
F3S. 106(7)(8) inserted (S.) (26.6.2017) by The Insolvency Amendment (EU 2015/848) Regulations 2017 (S.I. 2017/702), reg. 1, Sch. para. 56 (with regs. 3, 4) (which affecting provision is omitted (6.4.2019) by virtue of S.I. 2019/816, reg. 6(3))
Modifications etc. (not altering text)
C1Ss. 94, 106 applied (with modifications) by Building Societies Act 1986 (c. 53, SIF 16), ss. 54(3)(a)(5)(a), 90, 126(3), Sch. 15 para. 56(1)
C2S. 106 applied (with modifications) (S.) (6.4.2001) by S.S.I. 2001/128, reg. 4(1), Sch. 2
C3S. 106 modified (S.) (6.4.2001) by S.S.I. 2001/128, reg. 4(2), Sch. 3 (as amended (S.) (8.12.2017) by The Insolvency (Miscellaneous Amendments) Regulations 2017 (S.I. 2017/1119), reg. 1(1), Sch. 1 para. 57(2))
C4S. 106(3)(5) amended (1.7.1999) by Scotland Act 1998 (c. 46), s. 125, Sch. 8 para. 23(2)(3) (with s. 126(3)-(11)); S.I. 1998/3178, arts. 2, 3 (as amended (28.6.2016) by S.I. 2016/679, arts. 1(1), 6)