The Insolvency Regulations 1994

Provision of accounts by liquidator and audit of accounts

14.—(1) The liquidator shall, if required by the Secretary of State at any time, send to the Secretary of State an account in relation to the company of the liquidator’s receipts and payments covering such period as the Secretary of State may direct and such account shall, if so required by the Secretary of State, be certified by the liquidator.

(2) Where the liquidator in a winding up by the court vacates office prior to the holding of the final general meeting of creditors under section 146, he shall within 14 days of vacating office send to the Secretary of State an account of his receipts and payments as liquidator for any period not covered by an account previously so sent by him or if no such account has been sent, an account of his receipts and payments in respect of the whole period of his office.

(3) In the case of a winding up by the court, where:

(a) a final general meeting of creditors has been held pursuant to section 146, or

(b) a final general meeting is deemed to have been held by virtue of Rule 4.125(5),

the liquidator shall send to the Secretary of State, in case (a), within 14 days of the holding of the final general meeting of creditors and, in case (b), within 14 days of his report to the court pursuant to Rule 4.125(5), an account of his receipts and payments as liquidator which are not covered by any previous account so sent by him, or if no such account has been sent an account of his receipts and payments in respect of the whole period of his office.

(4) In the case of a winding up by the court, where a statement of affairs has been submitted under the Act, any account sent under this regulation shall be accompanied by a summary of that statement of affairs and shall show the amount of any assets realised and explain the reasons for any non-realisation of any assets not realised.

(5) In the case of a winding up by the court, where a statement of affairs has not been submitted under the Act, any account sent under this regulation shall be accompanied by a summary of all known assets and their estimated values and shall show the amounts actually realised and explain the reasons for any non-realisation of any assets not realised.

(6) Any account sent to the Secretary of State shall, if he so requires, be audited, but whether or not the Secretary of State requires the account to be audited, the liquidator shall send to the Secretary of State on demand any documents (including vouchers and bank statements) and any information relating to the account.