Chapter: 32  COMPANIES ORDINANCE

Section Num: 300B  Version Date 13/02/2004

Special provisions as to statement submitted to receiver

(1) The statement of affairs required by section 300A to be submitted to the receiver (or his successor) shall show as at the date of the receiver's appointment the particulars of the company's assets, debts and liabilities, the names, addresses and occupations 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.  (Amended 28 of 2003 s. 93)

(2) The statement of affairs required by section 300A shall be submitted by, and be verified by statement in writing signed by, 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), subject to the direction of the court, may require to submit and verify the statement of affairs, that is to say, persons-  (Amended 28 of 2003 s. 93)

(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 1 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 of affairs relates.  (Amended 28 of 2003 s. 93)

(3) Any person making the statement of affairs required by section 300A or the written statement required by subsection (2) 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 of affairs or written statement as the receiver (or his successor) may consider reasonable, subject to an appeal to the court.  (Amended 28 of 2003 s. 93)

(4) Where the receiver is appointed under the powers contained in any instrument, this section shall have effect with the substitution for references to the court of references to the Official Receiver.  (Amended 28 of 2003 s. 93)

(5) If any person without reasonable excuse makes default in complying with the requirements of this section, he shall be liable to a fine and, for continued default, to a daily default fine.  (Amended 7 of 1990 s. 2)

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

(7) This section shall not apply where the receiver or manager was appointed before the commencement* of the Companies (Amendment) Ordinance 1984 (6 of 1984).

(Added 6 of 1984 s. 213)

[cf. 1948 c. 38 s. 373 U.K.]

Note:

* Commencement date: 31 August 1984.