Declaration of solvency: Difference between revisions
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imported>Doug Williamson m (Classification.) |
imported>Doug Williamson m (Spacing.) |
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A statutory declaration made by the directors of a company, prior to its liquidation, to the effect that they 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/liquidation commences. | A statutory declaration made by the directors of a company, prior to its liquidation, to the effect that they 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/liquidation commences. | ||
Revision as of 10:23, 14 July 2013
Law.
A statutory declaration made by the directors of a company, prior to its liquidation, to the effect that they 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/liquidation commences.
