16 (2) The part of the statement relating to the matters referred to in subsection (1)(a) shall be submitted and verified by affidavit by one or more of the persons who are at the relevant date the directors and by the person who is at that date the secretary of the troubled financial institution or by such of the persons hereinafter in this subsection mentioned as the administrator may require to submit and verify the statement, that is to say, persons— (a) who are or have been officers of the institution; (b) who have taken part in the formation of the institution at any time within one year before the relevant date; (c) who are in the employment of the institution or have been in the employment of the institution within the said year and are in the opinion of the administrator capable of giving the information required; (d) who are or have been within the said year officers of or in the employment of a company which is, or within the said year was, an officer of the institution to which the statement relates. (3) The part of the statement relating to the matters referred to in subsection (1)(b) and (c) shall be given to the persons named therein or published in such manner as, in the opinion of the administrator, will give any person affected by it an adequate opportunity of getting to know of it: Provided that the publication by the administrator by notice in the Gazette of the names of the persons mentioned in the relevant part of the statement, together with an allegation that they were knowingly parties to the carrying on of the business of the troubled financial institution in the manner or circumstances referred to in subsection (1)(b), and a statement of the extent— (a) whether limited or unlimited, to which they are personally liable for the debts and liabilities of the institution; and (b) to which any share, right or interest in or claim upon the institution purportedly held by any of them was obtained by or resulted from any fraud committed by any of them; shall be sufficient notice to any person specified in the notice. (4) The statement shall be submitted within twenty-one days from the commencement of the administration or within such extended time as the Reserve Bank may for special reasons allow. (5) Any person making or concurring in making the statement and affidavit required by subsection (2) shall be allowed and shall be paid out of the assets of the troubled financial institution such costs and expenses incurred in and about the preparation and making of the statement and affidavit as the administrator may consider reasonable. (6) If any person, without reasonable excuse, makes default in complying with the requirements of subsection (2), he or she shall be guilty of an offence and liable to a fine not exceeding level eight. (7) Any person objecting to— (a) being identified as a party who knowingly carried on the business of the troubled financial institution in the manner or circumstances referred to in subsection (1)(b); or