165. Statement of Company's affairs
Past version: effective from 14/06/2015 - 13/06/2015
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(1) The Statement of Affairs must —
(a) be verified by a statement of truth by each relevant person in accordance with the Civil Procedure Rules;
(b) be in the prescribed form containing all the particulars required by that form;
(c) give particulars of the Company's property, debts and liabilities;
(d) give the names and addresses of the Company's creditors;
(e) specify the security held by each creditor;
(f) give the date on which each security was granted; and
(g) contain such other information as may be prescribed.
(2) A person required to submit a Statement of Affairs under Section 164(1) (Notice requiring Statement of Affairs) must do so before the end of the period of 21 days beginning with the day after that on which the prescribed notice of the requirement is given to him by the administrative receiver.
(3) The administrative receiver may —
(a) release a person from a requirement to provide a Statement of Affairs under Section 164(1) (Notice Requiring Statement of Affairs); or
(b) extend the period specified in subsection (2) (whether before or after expiry).
(4) If the administrative receiver refuses to act under subsection (3), the Court, if it thinks fit, may exercise it.
(5) If a person fails without reasonable excuse to comply with this Section, he commits a contravention and is liable to a fine at the relevant level set out in the Fines Schedule.