ACT 125

COMPANIES ACT 1965 (REVISED - 1973)

PART X - WINDING UP

DIVISION 2 - WINDING UP BY THE COURT

Subdivision (2) - Liquidators

Section 235. Report by liquidator.

(1) The liquidator shall as soon as practicable after receipt of the statement of affairs submit a preliminary report to the Court— (a) as to the amount of capital issued, subscribed and paid up and the estimated amount of assets and liabilities; (b) if the company has failed, as to the causes of the failure; and (c) whether in his opinion further inquiry is desirable as to any matter relating to the promotion, formation or failure of the company or the conduct of the business thereof. (2) The liquidator may also, if he thinks fit, make further reports stating the manner in which the company was formed and whether in his opinion any fraud has been committed or any material fact has been concealed by any person in its promotion or formation or by any officer in relation to the company since its formation, and whether any officer of the company has contravened or failed to comply with this Act, and specifying any other matter which in his opinion it is desirable to bring to the notice of the Court. (3) The liquidator of a company which is an insurer shall submit the preliminary report in subsection (1) and the further reports in subsection (2) to Bank Negara Malaysia at the same time as he submits them to the Court.