Act of Sederunt The Companies (Winding-up) Forms, 1949

Publication Date:January 01, 1949
 
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1949No. 1065 (S. 70)

(2) FORMS

Act of Sederunt The Companies (Winding-up) Forms, 1949

2ndJune1949

3rdJune1949

4thJune1949

The Lords of Council and Session, under and by virtue of the powers conferred on them by section 365 of the Companies Act, 1948(a) (hereinafter referred to as "the Act") and of all other powers competent to them in that behalf do hereby enact as follows:—

1. The forms set out in the Schedule hereto, with such variations as the circumstances may require, shall be the forms to be used in connection with—

(a) the declaration of solvency to be delivered to the Registrar of Companies under section 283 of the Act;

(b) the statement of assets and liabilities to be submitted to a meeting of creditors under section 288 of the Act; and

(c) the return of the final winding-up meeting and the liquidator's statement of account under sections 290 and 300 of the Act.

2. This Act of Sederunt may be cited as the Act of Sederunt The Companies (Winding-up) Forms, 1949, and shall come into operation on the fourth day of June, 1949.

And the Lords appoint this Act of Sederunt to be inserted in the Books of Sederunt.

T. M. Cooper, I.P.D.

Edinburgh.

2nd June, 1949.

(a) 11 & 12 Geo. 6. c. 38.

SCHEDULE

FORM No. 108

No. of Company … ..

THE COMPANIES ACT, 1948

A 5s. Companies Registration Fee Stamp must be impressed here.

MEMBERS' VOLUNTARY WINDING-UP

DECLARATION OF SOLVENCY, EMBODYING A STATEMENT OF ASSETS AND LIABILITIES

(Pursuant to Section 283)

Name of Company … .. Limited

Presented by … ..

DECLARATION OF SOLVENCY

We … .. of … .. and … .. of … .. being all the/the majority of the directors of … .. do solemnly and sincerely declare that we have made a full enquiry into the affairs of this company, and that, having so done, we have formed the opinion that this company will be able to pay its debts in full within a period of … ..*(*Insert a period of months not exceeding 12.) months, from the commencement of the winding up, and we append a statement of the company's assets and liabilities as at … .. 19 … .. being the latest practicable date before the making of this declaration. And we make this solemn declaration, conscientiously believing the same to be true, and by virtue of the provisions of the Statutory Declarations Act, 1835.

Delete as necessary.

Declared at … .. the … .. day of … .. one thousand nine hundred and … .. before me.

A Commissioner for Oaths or Notary Public or Justice of the Peace.

Delete as necessary.

Statement as at … .. 19 … .. showing Assets at estimated realisable values and Liabilities expected to rank

 Estimated to
 realise or to
 Assets and Liabilities rank for
 payment (to
 nearest £)
ASSETS:— £
Balance at Bank
Cash in Hand
Marketable Securities
Bills Receivable
Trade Debtors
Loans and Advances
Unpaid Calls
Stock in Trade
Work in Progress
… … … … …
… … … … …
… … … … …
Freehold Property
Leasehold Property
Plant and Machinery
Furniture, Fittings, Utensils, etc
Patents, Trade Marks, etc
Investments other than marketable securities
Other property, viz.:—
… … … … …
… … … … … .
 Estimated realisable value of Assets £
LIABILITIES:—
Secured on specific assets, viz.:— £
… … … … … … … … … … ..
Secured by Floating Charge(s)
Estimated Cost of Liquidation and other
 expenses including interest accruing until
 payment of debts in full
Unsecured Creditors (amounts £
 estimated to rank for pay-
 ment):—
 Trade Accounts
 Bills Payable
 Accrued Expenses
 Other Liabilities:—
 … … … … … … ..
 … … … … … … ..
 Contingent Liabilities:—
 … … … … … … ..
 … … … … … … ..
 Estimated Surplus after paying Debts in full £

Remarks:

FORM No. 109

THE COMPANIES ACT, 1948

FORM OF STATEMENT OF ASSETS AND LIABILITIES

To be submitted to a Meeting of Creditors pursuant to Section 288 of the Companies Act, 1948, by the Liquidator in a Member's Voluntary Winding-up if he is of the opinion that the Company is unable to pay its debts in full within the period stated in the Declaration of Solvency, viz., … .. *(*Insert period shown in the Declaration of Solvency.) months from the commencement of the Winding-up.

… .. Limited (in Liquidation)

Statement as at … .. 19 … .. showing Assets at estimated realisable values and Liabilities expected to rank.

(Date of Commencement of Winding-up … .. 19 … )

Liquidator's Remarks

In particular the liquidator should draw attention to any item where after taking his receipts and payments into account there is a substantial difference between his estimate and the directors' estimate in the statement annexed to the Declaration of Solvency.

… .. LIMITED. (IN LIQUIDATION) STATEMENT AS AT 19 SHOWING ASSETS AT ESTIMATED REALISABLE VALUES AND LIABILITIES EXPECTED TO RANK.

(DATE OF COMMENCEMENT OF WINDING-UP: 19 )

 Estimated
 Realisable
 Values
ASSETS NOT SPECIFICALLY PLEDGED: £
 Balance at Bank
 Cash in Hand
 Marketable securities
 Bills Receivable
 Trade Debtors
 Loans and Advances
 Unpaid Calls
 Stock in Trade
 Work in Progress
 Freehold Property
 Leasehold Property
 Plant and Machinery
 Furniture, Fittings, Utensils, etc.
 Patents, Trade Marks, etc.
 Investments other than marketable securities
 Other property, viz.:—
 … … … … … .
 … … … … … .
 (a) (b) (c)
 Deficiency
 Estimated Due to ranking as Surplus
 realisable secured unsecured carried
 values creditors (see next to last
ASSETS SPECIFICALLY page) column
 PLEDGED
 £ £ £ £
 Freehold property
 … … … … … ..
 … … … … … ..
 £ £ £ £
 Estimated surplus from Assets specifically pledged
ESTIMATED TOTAL ASSETS AVAILABLE FOR PREFERENTIAL CREDITORS,
 DEBENTURE HOLDERS SECURED BY A FLOATING CHARGE, AND
 UNSECURED CREDITORS* (carried forward to next page) £
 (d)
 SUMMARY OF GROSS ASSETS £
 Gross realisable value of assets specifically
 pledged
 Other Assets
 GROSS ASSETS £
ESTIMATED TOTAL ASSETS AVAILABLE FOR PREFERENTIAL CREDITORS,
 DEBENTURE HOLDERS SECURED BY A FLOATING CHARGE, AND
 UNSECURED CREDITORS* (brought forward from preceding page).
 (e) LIABILITIES
 Gross (to be deducted from surplus or added to
Liabilities deficiency as the case may be)
 £
 SECURED CREDITORS to extent to which claims are esti-
 mated to be covered by Assets specifically pledged (item (a)
 or (b) on preceding page whichever is the
...

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