Section 484 CAMA 2020

Section 484 Companies and Allied Matters Act is about Administrator to be provided with statement of affairs of company. It is under Chapter 18 (Administration of companies: nature of administration) of the Act.

(1) As soon as is reasonably practicable after appointment, the administrator of a company shall, by notice in the prescribed form, require one or more relevant persons to provide the administrator with a statement of the affairs of the company.

(2) The statement shall—

(a) be verified by a statement on oath ;

(b) be in the prescribed form ;

(c) give particulars of the company’s property, debts and liabilities ;

(d) give the names and addresses of the company’s creditors ;

(e) specify the security held by each creditor ;

(f ) give the date on which each security was granted ; and

(g) contain such other information as may be prescribed.

(3) In subsection (1), “relevant person” means a person—

(a) who is or has been an officer of the company ;

(b) who took part in the formation of the company during the period of one year ending with the date on which the company enters administration ;

(c) employed by the company during that period ; and

(d) who is or has, during the period of one year ending with the date on which the company enters administration, been an officer or employee of a company.

(4) For the purpose of subsection (3), a reference to employment is a reference to employment through a contract of employment or a contract for services.

(5) A person commits an offence if he fails, without reasonable excuse,to comply with a requirement of this section.