Section 101Part 5 — Company Restructuring and Winding Up
Company ’ s statement of affairs
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Where the Court has made a winding up order or appointed a provisional liquidator, the liquidator may require some or all of the persons mentioned in subsection (3) to prepare and submit to that person a statement in the prescribed form as to the affairs of the company.
The statement shall be verified by an affidavit sworn by the persons required to submit it and shall show —
particulars of the company ’ s assets and liabilities, including contingent and prospective liabilities;
the names and addresses of any persons having possession of the company ’ s assets;
the assets of the company held by those persons;
the names and addresses of the company ’ s creditors;
the securities held by those creditors;
the dates when the securities were respectively given; and
such further or other information that the liquidator may require.
The persons referred to in subsection (1) are —
persons who are or have been directors or officers of the company;
persons who are or have been professional service providers to the company; and
persons who are or have been employees of the company, during the period of one year immediately preceding th e relevant date.
Where any persons are required under this section to submit a statement of affairs to the liquidator, they shall do so, subject to subsection
, before the end of the period of twenty - one days beginning with the day after that on whi ch the prescribed notice of the requirement is given to them by the liquidator. ( 5 ) The liquidator may release a person from an obligation imposed on that person under subsection (1) or, when giving the notice mentioned in subsection (4) or subsequently, t he liquidator may extend the time for compliance; and if the liquidator refuses to extend the time for compliance, the Court may do so.
In this section — “ relevant date ” means —
in a case where a provisional liquidator is appointed, the date of tha t person’s appointment; and
in any other case, the commencement of the winding up.
A person who, without reasonable excuse, fails to comply with any obligation imposed under this section commits an offence and is liable on conviction to a fine of t en thousand dollars.