Declaration of solvency: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson m (Spacing.) |
imported>Doug Williamson m (Split up long sentence into shorter ones.) |
||
Line 1: | Line 1: | ||
''Law''. | ''Law''. | ||
A statutory declaration made by the directors of a company | A statutory declaration made by the directors of a company prior to its winding up or liquidation. | ||
The declaration of solvency states that the directors: | |||
#Have made a full enquiry into the affairs of the company, and | |||
#Have formed the opinion that the company will be able to pay its debts in full within a period of not more than 12 months from the date on which the winding up or liquidation commences. | |||
== See also == | == See also == | ||
Line 8: | Line 14: | ||
* [[Winding-up]] | * [[Winding-up]] | ||
[[Category: | [[Category:Compliance_and_audit]] |
Revision as of 12:49, 17 August 2013
Law.
A statutory declaration made by the directors of a company prior to its winding up or liquidation.
The declaration of solvency states that the directors:
- Have made a full enquiry into the affairs of the company, and
- Have formed the opinion that the company will be able to pay its debts in full within a period of not more than 12 months from the date on which the winding up or liquidation commences.