- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
10.—(1) This regulation does not apply in the case of a members' voluntary winding up.
(2) The liquidator shall prepare and keep—
(a)separate financial records in respect of each company; and
(b)such other financial records as are required to explain the receipts and payments entered in the records described in sub-paragraph (a) or regulation 12(2), including an explanation of the source of any receipts and the destination of any payments;
and shall, subject to regulation 12(2) as to trading accounts, from day to day enter in those records all the receipts and payments made by him.
(3) In the case of a winding up by the court, the liquidator shall obtain and keep bank statements relating to any local bank account in the name of the company.
(4) The liquidator shall submit financial records to the liquidation committee when required for inspection.
(5) In the case of a winding up by the court, if the liquidation committee is not satisfied with the contents of the financial records submitted under paragraph (4) it may so inform the Department, giving the reasons for its dissatisfaction.
[E.R. 10]
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include: