ACT 125

COMPANIES ACT 1965 (REVISED - 1973)

PART X - WINDING UP

DIVISION 2 - WINDING UP BY THE COURT

Subdivision (2) - Liquidators

Section 234. Statement of company's affairs to be submitted to Official Receiver.

(1) There shall be made out and verified in the prescribed form and manner and submitted to the Official Receiver or the liquidator, as the case requires, a statement as to the affairs of the company as at the date of the winding up order showing— (a) the particulars of its assets, debts and liabilities; (b) the names and addresses of its creditors; (c) the securities held by them respectively; (d) the dates when the securities were respectively given; and (e) such further information as is prescribed or as the Official Receiver or the liquidator requires. (2) The statement shall be submitted by one or more of the persons who are at the date of the winding up order directors, and by the secretary of the company, or by such of the persons hereinafter mentioned as the Official Receiver or the liquidator, subject to the direction of the Court, requires, that is to say, persons— (a) who are or have been officers of the company; (b) who have taken part in the formation of the company, at any time within one year before the date of the winding up order; or (c) who are or have been within that period officers of or in the employment of a corporation which is, or within that period was, an officer of the company to which the statement relates. (3) The statement shall be submitted within fourteen days after the date of the winding up order or within such extended time as the Official Receiver or the liquidator or the Court for special reasons specified, and the Official Receiver or the liquidator shall within seven days after its receipt cause a copy of the statement to be filed with the Court and lodged with the Registrar, and in the case of a company which is an insurer, whether or not its licence under the Insurance Act 1996 is revoked, Bank Negara Malaysia, and where the Official Receiver is not the liquidator shall cause a copy to be lodged with the Official Receiver. (4) Any person making or concurring in making the statement required by this section may subject to the rules be allowed, and be paid, out of the assets of the company, such costs and expenses incurred in and about the preparation and making of the statement as the Official Receiver or the liquidator considers reasonable subject to an appeal to the Court. (5) Every person who without reasonable excuse makes default in complying with the requirements of this section shall be guilty of an offence against this Act. Penalty: Imprisonment for three years or ten thousand ringgit or both. Default penalty.