COMPANIES ACT - 1963 (ACT 179)

    Section - 243 - Accounts where Manager Appointed to Enforce a Floating Charge

    (1) Where a manager is appointed of the whole or substantially the whole of the undertaking of any company on behalf of the holders of any debentures secured by a floating charge the provisions of section 19 of the Bodies Corporate (Official Liquidations) Act, 1963 (Act 180), shall apply as regards the submission of a statement of affairs and of periodical accounts by the manager as if the company had been ordered to be wound up under such Act and as if the manager had been appointed liquidator.

    (2) If any person makes default in complying with the requirements of this section he shall be liable to a fine not exceeding five pounds for every day during which the default continues.