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CS Professional · Compliance Management, Audit and Due Diligence · Compliance Framework

Meridian Pharma Ltd is in liquidation. The Company Liquidator and the receiver of its property both issue purchase orders for goods on which the company's name appears. Neither document states that the company is being wound up. Under Section 344, who is covered by the documentary requirement?

The requirement covers documents issued by or on behalf of the company, by the Company Liquidator, or by a receiver or manager of the company's property, whenever the company's name appears. So both the liquidator's and the receiver's purchase orders needed the statement.

  1. AOnly the company, since liquidators and receivers act in a representative capacity
  2. BDocuments issued by or on behalf of the company, the Company Liquidator, or a receiver or manager of the company's propertyCorrect
  3. COnly the Company Liquidator, as the person in control of the winding up
  4. DOnly documents issued by the company's officers before the winding-up order

Explanation

Section 344(1) covers documents issued by or on behalf of the company or a Company Liquidator, or a receiver or manager of the company's property, where the company's name appears. Hence both the liquidator's and the receiver's orders must carry the statement. Restricting it to the company or liquidator alone is incorrect.

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