This is new. Liquidators appointed by the court often find difficulty in ascertaining the true position of a company's affairs and the extent of its assets and liabilities. Section 224 will require a statement of a company's affairs to be made in court.
SECTION 224.
Question proposed : "That Section 224 stand part of the Bill."
Who will make this statement? Is it the auditor?
Subsection (2) provides for that.
There are professional reasons which make it desirable that the auditor's statement should be there as well. He has been accustomed to auditing the affairs of the company.
The court could, perhaps, under paragraph (2), require the auditor to file and verify a statement.
In any event, it is desirable that the auditor should do it as well as a director.
Question put and agreed to.