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157. Accounts

(1) The receiver shall —
(a) within two (2) months after the end of twelve (12) months from the date of his appointment, and after every subsequent period of twelve (12) months; and
(b) within two (2) months after he ceases to act as receiver,
send to the Registrar, to the Company and to the person by whom he was appointed, accounts detailing his receipts and payments as receiver.
(2) The accounts are to be in the form of an abstract showing —
(a) receipts and payments during the relevant period of twelve (12) months; or
(b) where the receiver has ceased to act, receipts and payments during the period from the end of the last twelve (12) month period to the time when he so ceased (alternatively, if there have been no previous accounts, receipts and payments in the period since his appointment as receiver).
(3) A receiver who makes default in complying with this Section commits a contravention and is liable to a fine at the relevant level set out in the Fines Schedule.