Declaration of Solvency confirms company can meet liabilities for the forthcoming year and attaches asset liability statement. Form No. 04A requires directors to declare, after full enquiry, that the company can meet its total liabilities and will not be rendered insolvent for the forthcoming year; attach a statement of assets and liabilities (Annexure I) showing estimated realisable values and liabilities expected to rank for payment; confirm audited accounts are filed up to date; record shareholder approval for a buy back; and include signatures, verification and affirmation before an authorised officer.
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Declaration of Solvency confirms company can meet liabilities for the forthcoming year and attaches asset liability statement.
Form No. 04A requires directors to declare, after full enquiry, that the company can meet its total liabilities and will not be rendered insolvent for the forthcoming year; attach a statement of assets and liabilities (Annexure I) showing estimated realisable values and liabilities expected to rank for payment; confirm audited accounts are filed up to date; record shareholder approval for a buy back; and include signatures, verification and affirmation before an authorised officer.
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