No. 7/2018
45
INSOLVENCY
Cap.6:07
Registration of name and address with liquidator
( 1) Any person who claims to be a creditor of the estate may register his or
her name and address in Zimbabwe with the liquidator of the estate and may indicate
property which he or she claims to hold as security for a claim.
(2) The liquidator must send by liquidator's notice( a)
to that address a notice of every meeting of creditors of the estate, a copy
of every report contemplated in section 46( 1), and a copy of every notice
in terms of section 98; and
(b)
notice of the sale of property to a person \vho indicated that he or she
holds the property as security in terms of subsection (1).
(3) The liquidator must send by standard notice a copy of an account which has
been advertised to lie open for inspection to a person registered in terms of this section
upon request and payment of the reasonable costs of making a copy of the account.
(4) Failure on the part of the liquidator to comply with a provision of this section
constitutes a failure to perform his or her duties but does not invalidate anything done
under this Act.
46
Liquidator's report
(I) The liquidator must investigate the affairs of the debtor and the business
transactions entered into by him or her before the liquidation of his or her estate and
must at the first meeting of creditors of the insolvent estate or, if that is not possible, at a
special meeting of creditors, submit a full written report on those affairs and transactions
and on any matter of importance relating to the debtor or the insolvent estate.
(2) The liquidator in the report referred to in subsection (1) must in particular
report on(a)
the assets and liabilities of the insolvent estate;
(b)
whether there is a risk of a contribution by creditors in terms of section
104, or indicate why he or she is unable to express an opinion on the
matter;
(c)
the cause of the debtor's insolvency;
(d)
in the case of a debtor other than a company, private business corporation
or a co-operative, the bookkeeping relating to the debtor's affairs, the
question whether proper bookkeeping in respect of his or her business
transactions was carried out and, if not, in vvhat respect it is defective,
insufficient or incorrect;
(e)
in the case of a debtor which is a company, private business corporation or
a co-operative, whether or not the debtor has kept the accounting records
required by sections 173 and 259 of the Companies Act [Chapter 24:31],
or section 94 of the Co-operative Societies Act [Chapter 24:05], and, if
not, in what respects the requirements of those sections have not been
complied with;
(f)
whether the debtor appears to have contravened any provision of this Act
or to have committed any other offence, in particular(i) whether the debtor has failed to send a statement of affairs and, in
the case of a natural person. of his or her income and expenses as
required by this Act;
(ii) whether the debtor has contravened the provisions of Income tax
Act [Chapter 23:06] or section !50( f) of this Act;
(g)
where applicable, the monthly income and expenses of the insolvent, any
allowance made by the liquidator to the insolvent by way of maintenance
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