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COMPANY.
GENERAL ORDER OF THE BOARD OF TRADE DATED DECEMBER 31; 1890, UNDER RULE 175 OF THE COMPANIES (WINDING UP) RULES, 1890, AS TO STATEMENTS BY LIQUIDATORS IN PENDING LIQUIDATIONS TO THE REGISTRAR OF JOINT STOCK COMPANIES.
Transmission of accounts.

It is hereby ordered by the Board of Trade as follows in regard to the matters referred to in section 15 of the Companies (Winding Up) Act, 1890,[1] and Rules 126 and 127[2] of the Companies (Winding Up) Rules, 1890.

Receipts and payments.

The statement of account required by sub-section 1 of section 15 of the Act and by Rule 127 to be transmitted in duplicate to the Registrar of Joint Stock Companies shall be in the Form No. 1 annexed hereto with such variations as circumstances may require, and shall be on sheets 13 inches by 16 inches, and shall be verified by an affidavit in the Form No. 2 annexed hereto. The statement shall contain a detailed statement of all the Liquidator's receipts and payments on account of the Company, but bank transactions as between the Liquidator and the bank, and payments or receipts on account of investments made by or on behalf of the Liquidator, should be inserted in the columns provided for that purpose, and not in the columns for "other receipts and payments." Each receipt and payment must be entered in the account in such a manner as sufficiently to explain its nature. The receipts and payments should severally be added up at the foot of each sheet, and the totals carried forward to the next sheet, without any intermediate balance, so that the gross totals shall represent the total amounts received and paid by the Liquidator respectively.

Trading account.

When the Liquidator carries on a business, a trading account must be forwarded as a distinct account, and the totals of receipts and payments on the trading account must alone be set out in the statement. The trading account shall be in the Form No. 3 annexed hereto, shall be on sheets 13 inches by 16 inches, and shall be sent in duplicate.

Petty expenses.

Petty expenses must be entered in the statement or trading account in sufficient detail to show that no estimated charges are made.

Realisations.

Where property has been realised, the gross proceeds of sale must be entered under receipts in the statement, and the necessary disbursements and charges incidental to sales must be entered as payments.

  1. ↑ 53 & 54 Vict. c. 63.
  2. ↑ Printed at p. 256 above.
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