Section 117: Other duties of liquidator

117. Other duties of liquidator (1) A liquidator shall— (a) within 7 days of being appointed or being notified of his appointment, give public notice of— (i) his appointment; (ii) the date of the commencement of the liquidation; and (iii) the address and contact number to which, during normal business hours, inquiries may be directed by a creditor or shareholder; (b) within 7 days of being appointed or being notified of his appointment, submit to the Director notice of his appointment; (c) within the applicable period referred to in subsection (2)— (i) prepare a list of every known creditor of the company; (ii) except in the case of a shareholders’ voluntary winding up, prepare and submit to the Director a report containing the details, including a statement of the company’s affairs, proposals for conducting the liquidation, and, where practicable, the estimated date of its completion; (iii) send a copy of the report and a notice explaining the right of a creditor or shareholder to require the liquidator to call a meeting of creditors under section 108 (3) (b) to every known creditor and shareholder; (d) within 28 days of the end of each period of 6 months following the commencement of the liquidation, prepare and send to every known creditor and shareholder, and submit to the Director, a report— (i) on the conduct of the liquidation during the preceding 6 months; (ii) containing the details referred to in paragraph (c) (iii); and (iii) of any further proposals which the liquidator has for completing the liquidation. [Issue 3] I14 – 70 Revised Laws of Mauritius (2) For the purposes of subsection (1) (c), “applicable period” means— (a) in the case of a creditors’ voluntary winding up, 14 days after the liquidator’s appointment; (b) in the case of a liquidator appointed by the Court, 28 days after the liquidator’s appointment; or (c) in either case, such longer period as the Court may allow. (3) The Court may, on the application of a liquidator and on such terms as it thinks appropriate— (a) exempt the liquidator from compliance with subsection (1) (c) or (d); or (b) modify the application of those provisions in relation to the liquidator. (4) A liquidator shall not be required to comply with subsection (1) (c) or (d) where he is satisfied that the value of the assets of the company available for distribution to unsecured creditors, not being creditors entitled to be paid in the order of priority set out in the Fourth Schedule, is not likely to exceed 10 rupees or such other sum as may be prescribed, in every one hundred rupees owed to such creditors. (5) A liquidator who considers that the company or any person has— (a) committed an offence in relation to the company; (b) been guilty of any negligence, default, breach of duty or trust in relation to the company; or (c) committed any offence that is material to the liquidation under the Companies Act, the Securities Act, the Financial Services Act or the Criminal Code, shall as soon as practicable submit a written report of that fact to the Director and give him such information or documents, and such assistance, including further reports, and access to and facilities for inspecting and taking copies of any documents, as the Director may require. (6) A liquidator who fails to comply with subsection (5) shall commit an offence and shall, on conviction, be liable to a fine not exceeding 500,000 rupees. (7) A liquidator shall ensure that every document entered into, made or issued by him on submit a written report of that fact to the Director and give him such information or documents, and such assistance, including further reports, and access to and facilities for inspecting and taking copies of any documents, as the Director may require. (6) A liquidator who fails to comply with subsection (5) shall commit an offence and shall, on conviction, be liable to a fine not exceeding 500,000 rupees. (7) A liquidator shall ensure that every document entered into, made or issued by him on behalf of a company shall state in a prominent position that the company is in liquidation.