257 Duties in relation to final report and accounts

(1)

As soon as practicable after completing his or her duties in relation to the liquidation, the liquidator of a company must—

(a)

prepare and send to every creditor whose claim has been admitted and every shareholder—

(i)

the final report and statement of realisation and distribution in respect of the liquidation; and

(ii)

a statement that—

(A)

all known assets have been disclaimed, or realised, or distributed without realisation; and

(B)

all proceeds of realisation have been distributed; and

(C)

the company is ready to be removed from the New Zealand register; and

(iii)

a summary of the applicable grounds on which the creditor or shareholder may object to the removal of the company from the New Zealand register under section 321:

(b)

send or deliver copies of the documents referred to in paragraph (a) to the Registrar for registration.

(2)

The court may, on the application of a liquidator,—

(a)

exempt the liquidator from compliance with the provisions of subsection (1); or

(b)

modify the application of those provisions in relation to the liquidator,—

on such terms and conditions as the court thinks fit.