Singapore legislation
Section 192
Section 192
Liquidator’s accounts
(1)
Every liquidator must lodge with the Official Receiver, in the prescribed form and verified by statutory declaration, an account of the liquidator’s receipts and payments and a statement of the position in the winding up —
within one month after the expiration of each of the following periods:
a period of 12 months after the date of the liquidator’s appointment;
every subsequent period of 12 months;
within one month after the liquidator ceases to act as liquidator; and
immediately after obtaining an order of release,and any liquidator who fails to do so shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $1,000 and also to a default penalty.
(2)
Every liquidator must, within 7 days after lodging the account and statement mentioned in subsection (1), also lodge with the Registrar of Companies a notice in the prescribed form of the lodgment of that account and statement, and any liquidator who fails to do so shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $1,000 and also to a default penalty.
(3)
The Official Receiver may cause the account of any liquidation to be audited by a public accountant, and for the purpose of the audit —
the liquidator must furnish the public accountant with such vouchers and information as the public accountant requires; and
the public accountant may at any time require the production of and inspect any books or accounts kept by the liquidator.
(4)
A liquidator must keep a copy of the account or, if audited, a copy of the audited account, and that copy must be open to the inspection of any creditor or any person interested at the office of the liquidator.
(5)
The liquidator must —
give notice that the account has been made up to every creditor and contributory, when next forwarding any report, notice of meeting, notice of call or dividend; and
in such notice, inform the creditors and contributories at what address and between what hours the account may be inspected.
(6)
The costs of an audit under this section must be fixed by the Official Receiver and are part of the expenses of winding up.