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    Form 66 Declaration of Solvency

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    olingirl
    The document is a Form 66 declaration of solvency under Section 257 of the Companies Act 1965. It contains: 1) A declaration by the directors of [Company Name] that after making inquiries into the company's affairs, they are of the opinion the company will be able to pay its debts in full within [time period] months from the commencement of winding up. 2) A statement of the company's assets and liabilities as of [date], showing the estimated realizable values of assets and liabilities expected to rank for payment. 3) The signatures of the directors declaring the document at a meeting held on [date] in [location].

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    Form 66 Declaration of Solvency

    Uploaded by

    olingirl
    3K views2 pages
    The document is a Form 66 declaration of solvency under Section 257 of the Companies Act 1965. It contains: 1) A declaration by the directors of [Company Name] that after making inquiries into the company's affairs, they are of the opinion the company will be able to pay its debts in full within [time period] months from the commencement of winding up. 2) A statement of the company's assets and liabilities as of [date], showing the estimated realizable values of assets and liabilities expected to rank for payment. 3) The signatures of the directors declaring the document at a meeting held on [date] in [location].

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    The document is a Form 66 declaration of solvency under Section 257 of the Companies Act 1965. It contains: 1) A declaration by the directors of [Company Name] that after making inquiries into the company's affairs, they are of the opinion the company will be able to pay its debts in full within [time period] months from the commencement of winding up. 2) A statement of the company's assets and liabilities as of [date], showing the estimated realizable values of assets and liabilities expected to rank for payment. 3) The signatures of the directors declaring the document at a meeting held on [date] in [location].

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    3K views2 pages

    Form 66 Declaration of Solvency

    Uploaded by

    olingirl
    The document is a Form 66 declaration of solvency under Section 257 of the Companies Act 1965. It contains: 1) A declaration by the directors of [Company Name] that after making inquiries into the company's affairs, they are of the opinion the company will be able to pay its debts in full within [time period] months from the commencement of winding up. 2) A statement of the company's assets and liabilities as of [date], showing the estimated realizable values of assets and liabilities expected to rank for payment. 3) The signatures of the directors declaring the document at a meeting held on [date] in [location].

    Copyright:

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    FORM 66

    Companies Act, 1965

    Section 257

    DECLARATION OF SOLVENCY
    . (NAMA SYARIKAT)
    We, .................................................................. of .................................................................
    I/C Nos ..........................., and ..............................., of ................................. being *.........................
    the directors of ................................................ (Nama Syarikat) and being present at a meeting of
    the directors of the company, declare that
    a) we have made an inquiry into the affairs of the company; and
    b) at this meeting, we have formed the opinion that the company will be able to pay its
    debts in full within a period of .................................. months from the commencement
    of the winding up.
    Attached hereto and signed by us is a true and correct statement of the company's assets
    and liabilities as at the ............. day of ............................, 20........., being the latest practicable date
    before the making of this declaration.

    Declared at the above-mentioned meeting of directors held


    at .................................................................. in the State of
    .................................................. this ......................... day of
    ........................................, 20..........

    ....................................................
    ....................................................
    ....................................................
    Directors

    Companies Act, 1965


    Section 257(2)
    STATEMENT AS AT ....................., 20........., TO BE ATTACHED TO DECLARATION
    OF SOLVENCY SHOWING ASSETS AT ESTIMATED REALIZABLE
    VALUES AND LIABILITIES EXPECTED TO RANK
    . (NAMA SYARIKAT)
    Estimated to realize or to
    rank for payment (to
    nearest RM)

    Assets and Liabilities

    ASSETS:
    Balance at bank . . .
    ...
    ...
    ...
    ...
    Cash in hand . . .
    ...
    ...
    ...
    ...
    Marketable securities
    ...
    ...
    ...
    ...
    Bills receivable
    ...
    ...
    ...
    ...
    ...
    Trade, debtors
    ...
    ...
    ...
    ...
    ...
    Loans and advances
    ...
    ...
    ...
    ...
    Unpaid calls
    ...
    ...
    ...
    ...
    ...
    Stock in trade
    ...
    ...
    ...
    ...
    ...
    Work in progress
    ...
    ...
    ...
    ...
    Freehold property
    ...
    ...
    ...
    ...
    Leasehold property
    ...
    ...
    ...
    ...
    Plant and machinery
    ...
    ...
    ...
    ...
    Furniture, fittings, utensils, & c.
    ...
    ...
    ...
    Patents, trade marks, & c.
    ...
    ...
    ...
    Investments other than marketable securities . . .
    ...
    Other property, viz:
    Estimated realizable value of assets
    LIABILITIES: RM
    Secured on specific assets, viz. :
    Secured by floating charger(s)
    Estimated expenses of winding up . . . . . .
    Other estimated expenses, including interest accruing
    until payment of debts in full . . . . . . . . .
    Unsecured creditors (amounts estimated to
    rank for payment) . . . . . . . . .
    Trade accounts . . . . . . . . .
    Bills payable . . . . . .
    RM
    Accrued expenses . . . . . .
    Other liabilities:

    ...
    ...
    ...
    ...
    ...
    ...
    ...
    ...
    ...
    ...
    ...
    ...
    ...
    ...
    ...
    ... .

    RM

    RM

    Contingent liabilities:
    Total ...
    Estimated surplus after paying debts in full

    sen

    RM

    sen

    Remarks .............................................................................................................................................
    Dated this .................... day of ........................................, 20..........
    .................................................
    .................................................
    .................................................
    Directors
    *Insert "all" or "a majority of".
    Insert a period of months not exceeding twelve.
    NOTE:
    By virtue of section 257 (3) of the Companies Act, 1965, a declaration of solvency has no effect for the purposes of that
    Act unless it is made within five weeks immediately preceding the passing of the resolution for voluntary winding up and
    lodged with the Registrar of Companies before the date on which the notices of the meeting at which the resolution for the
    winding up of the company is to be proposed are sent out.

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