SCHEDULE 1Amendments to the Insolvency Rules 1986

Amendments to Rule 4.34

163.—(1) Rule 4.34 (statement of affairs) is amended as follows.

(2) In paragraphs (2) and (3), for “7” substitute “5 business”.

(3) After paragraph (4) add—

(5) The liquidator may require any of the directors who has not submitted the statement of affairs to submit a statement of concurrence verified by a statement of truth, stating that that director concurs in the statement of affairs.

(6) A statement of concurrence made under paragraph (5) may be qualified in respect of matters dealt with in the statement of affairs, where the maker of the statement of concurrence—

(a)is not in agreement with the persons making the statement of affairs, or

(b)considers the statement to be erroneous or misleading, or

(c)is without the direct knowledge necessary for concurring in the statement.

(7) Every statement of concurrence must be delivered to the liquidator by the person who makes it, together with a copy..