317. Liquidator’s accounts Flashcards
- Liquidator’s accounts
General overview
[317.01] Section 317 provides that a liquidator must lodge a notice and a statutory declaration of an account of his receipts and payments and a statement of the position in the winding up within one month of the end of every six-month period from his appointment or one month from him ceasing to act as a liquidator. Further, under the Companies (Winding Up) Rules (GN No S 184/1969), rule 177 provides that in any winding up which is not concluded within six months after the appointment of the liquidator, such accounts and statements with respect to the proceedings and position of the liquidation of the company must be sent to ACRA and the official receiver twice in every year. The first account commences at the date the liquidator is appointed, the next within one month from the expiration of the six-month period since the liquidator’s appointment, and subsequent accounts to be sent at six-month intervals.
