Section 390. Submission of statement of affairs

(1) Statement as to the affairs of a company required by subsection 388(1) shall state as at the date of the appointment of a receiver or receiver and manager—

(a) the particulars of the company’s assets, debts and liabilities;

(b) the names and addresses of its creditors;

(c) securities held by creditors respectively;

(d) the dates when the securities were respectively created; and

(e) such other information as may be required by the Registrar.

(2) The statement shall be submitted by, and be verified by affidavit of, one or more of the persons who were at the date of the appointment of a receiver or receiver and manager, the directors of the company or by such of the persons in this subsection mentioned as the receiver or receiver and manager may require to submit and verify the statement, stating—

(a) persons who are or have been officers;

(b) persons who have taken part in the formation of the company at any time within one year before the date of the appointment of a receiver or receiver and manager;

(c) persons who are in the employment of the company, or have been in the employment of the company within that year, and are in the opinion of the receiver or receiver and manager capable of giving the information required; or

(d) persons who are or have been within that year officers of or in the employment of a corporation which is, or within that year was, an officer of the company to which the statement relates.

(3) Any person making the statement and affidavit shall be allowed and shall be paid by the receiver or receiver and manager out of his receipts such costs and expenses incurred in and about the preparation and making of the statement and affidavit as the receiver or receiver and manager may consider reasonable, subject to an appeal to the Court.

(4) Any person who contravenes subsections (1) and (2) commits an offence and in the case of a continuing offence, to a further fine not exceeding five hundred ringgit for each day during which the offence continues after conviction.