+44 1372 750800

COMPANIES ACT 1963 - SECT 320 Contents of statement to be submitted to receiver.

320.—(1) The statement as to the affairs of a company required by section 319 to be submitted to the receiver (or his successor) shall show as at the date of the receiver's appointment particulars of the company's assets, debts and liabilities, the names and residences of its creditors, the securities held by them respectively, the dates when the securities were respectively given and such further or other information as may be prescribed.

(2) The said statement shall be submitted by, and be verified by affidavit of, one or more of the persons who are, at the date of the receiver's appointment, the directors and by the person who is at that date the secretary of the company, or by such of the persons hereafter in this subsection mentioned as the receiver (or his successor), may require to submit and verify the statement, that is, 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 receiver's appointment;

( c ) who are in the employment of the company or have been in the employment of the company within the said year, and are in the opinion of the receiver capable of giving the information required;

( d ) who are or have been within the said year officers of or in the employment of a company which is, or within the said year was, an officer of the company to which the statement relates.

(3) Any person making the statement and affidavit shall be allowed, and shall be paid by the receiver (or his successor) out of his receipts, such costs and expenses incurred in and about the preparation and making of the statement and affidavit as the receiver (or his successor) may consider reasonable, subject to an appeal to the court.

(4) Where the receiver is appointed under the powers contained in any instrument, this section shall have effect with the substitution for references to an affidavit of references to a statutory declaration; and in any other case references to the court shall be taken to refer to the court by which the receiver was appointed.

(5) If any person without reasonable excuse makes default in complying with the requirements of this section, he shall be liable to a fine not exceeding £100.

(6) References in this section to the receiver's successor shall include a continuing receiver.