15 13 Voidable dispositions of property by troubled financial institutions and specified persons (1) If an administrator has reasonable grounds for believing that a troubled financial institution or specified person has made any disposition of the property of such institution or of his or her own property, as the case may be, in collusion with another person for the purpose of securing that property against sequestration in the course of insolvency or administration proceedings, the administrator may, on not less than fourteen days’ written notice to the person in whose favour the disposition was made, apply to a magistrate or judge in chambers (depending on which court has jurisdiction in the matter) for an order setting aside such disposition and causing such property to be delivered to the administrator. (2) A disposition shall not be set aside in terms of subsection (1) if the person in whose favour the disposition was made proves that the disposition was not collusive but made in the ordinary course of business without the intention of securing that property against sequestration in the course of insolvency or administration proceedings. (3) For the avoidance of doubt it is declared that no criminal conviction for an offence under section 41 is required in order for the administrator to take action under this section. 14 Statement of troubled financial institution’s affairs (1) The administrator shall make and submit to the Reserve Bank a statement, as at the commencement of the administration or such other convenient date as the Reserve Bank may allow— (a) showing the particulars of the troubled financial institution’s assets, debts and liabilities (including its share capital as valued or revalued in accordance with section 15), the names, addresses and occupations of its creditors, the securities held by them respectively, the dates when the securities were respectively given and such further or other information as the Reserve Bank may require; and (b) identifying, subject to section 18, any past or present director or officer of the troubled financial institution or other person who it appears to the administrator was knowingly a party to the carrying on of the business of the institution in the manner or circumstances referred to in section 18(1), and indicating the extent, if ascertainable, to which any such person may be held liable for the debts and other liabilities of the institution: Provided that if it is not possible to ascertain the extent to which any such person is so liable, it shall be presumed, unless the contrary is shown in any application referred to in subsection (7), that every such person is personally responsible, without limitation of liability, for all the debts and liabilities of the company; (c) determining, if possible, whether any share, right, or interest in or claim upon the troubled financial institution that is purported to be held by a person referred to in paragraph (b) was obtained by or resulted from any fraud committed by such person in relation to the institution: Provided that, for the avoidance of doubt, it is declared that no criminal conviction for fraud is required in order for the administrator to make a finding of fraud under this paragraph.