Companies Act Section 353 — Liquidator to make returns, etc
CHAPTER XX WINDING UP
Commercial / Corporate
Summary
Sub-section (1) deals with a Company Liquidator who has failed to file, deliver, make, or give any return, account, document, or notice that the law requires. If the Liquidator does not fix this default within fourteen days of being served a notice demanding it, the Tribunal can, upon an application by a contributory, a creditor, or the Registrar, issue an order directing the Liquidator to fix the default within a time limit set by the Tribunal.
Sub-section (2) allows the Tribunal, in any order made under sub-section (1), to decide that the Company Liquidator must pay all the costs related to the application.
Sub-section (3) clarifies that this section does not affect any other law that imposes penalties on a Company Liquidator for the same kind of default.
Official Text
(1) If any Company Liquidator who has made any default in filing, delivering or making any return, account or other document, or in giving any notice which he is by law required to file, deliver, make or give, fails to make good the default within fourteen days after the service on him of a notice requiring him to do so, the Tribunal may, on an application made to it by any contributory or creditor of the company or by the Registrar, make an order directing the Company Liquidator to make good the default within such time as may be specified in the order.
(2) Any order under sub-section (1) may provide that all costs of, and incidental to, the application shall be borne by the Company Liquidator.
(3) Nothing in this section shall prejudice the operation of any enactment imposing penalties on a Company Liquidator in respect of any such default as aforesaid.