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

Orion Steels Ltd is being wound up by the Tribunal. Its liquidator's letterhead and invoices carry the winding-up statement, but the company's internal board notes and its annual internal MIS reports do not. Applying Section 344, what is the position?

There is no breach. Section 344(1) requires the winding-up statement only on invoices, orders for goods and business letters bearing the company's name, so internal board notes and MIS reports fall outside it.

  1. ABreach, since every document of the company must carry the statement
  2. BNo breach, because the section applies to invoices, orders for goods and business letters bearing the company's name, not internal notes or reportsCorrect
  3. CBreach, because internal documents are treated as business letters
  4. DNo breach only if the Registrar has exempted the company

Explanation

Section 344(1) is limited to invoices, orders for goods and business letters on which the company's name appears. Internal board notes and MIS reports are not such documents, so omission there is no breach. The section does not require the statement on every document.

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