Insolvency Act 1986, section 131

Company’s statement of affairs

Part IV Winding Up of Companies Registered under the Companies Acts

(1)Where the court has made a winding-up order or appointed a provisional liquidator, the official receiver may require some or all of the persons mentioned in subsection (3) below to make out and submit to him a statement in the prescribed form as to the affairs of the company.

(2)F306The statement . . . shall show—

(a)particulars of the company’s assets, debts and liabilities;

(b)the names and addresses of the company’s creditors;

(c)the securities held by them respectively;

(d)the dates when the securities were respectively given; and

(e)such further or other information as may be prescribed or as the official receiver may require

[F307 (2A)The statement shall [F308 be verified by the persons required to submit itF308] —

(a)in the case of an appointment of a provisional liquidator or a winding up by the court in England and Wales [F309 be verified by the persons required to submit itF309] , by a statement of truth; and

(b)in the case of an appointment of a provisional liquidator or a winding up by the court in Scotland, [F310 by affidavitF310] [F310 contain a statutory declaration by the persons required to submit itF310] .F307]

(3)The persons referred to in subsection (1) are—

(a)those who are or have been officers of the company;

(b)those who have taken part in the formation of the company at any time within one year before the relevant date;

(c)those who are in the company’s employment, or have been in its employment within that year, and are in the official receiver’s opinion capable of giving the information required;

(d)those who are or have been within that year officers of, or in the employment of, a company which is, or within that year was, an officer of the company.

(4)Where any persons are required under this section to submit a statement of affairs to the official receiver, they shall do so (subject to the next subsection) before the end of the period of 21 days beginning with the day after that on which the prescribed notice of the requirement is given to them by the official receiver.

(5)The official receiver, if he thinks fit, may—

(a)at any time release a person from an obligation imposed on him under subsection (1) or (2) above; or

(b)either when giving the notice mentioned in subsection (4) or subsequently, extend the period so mentioned;

and where the official receiver has refused to exercise a power conferred by this subsection, the court, if it thinks fit, may exercise it.

(6)In this section—

  • “employment” includes employment under a contract for services; and

  • “the relevant date” means—

(a)in a case where a provisional liquidator is appointed, the date of his appointment; and

(b)in a case where no such appointment is made, the date of the winding-up order.

(7)If a person without reasonable excuse fails to comply with any obligation imposed under this section, he is liable to a fine and, for continued contravention, to a daily default fine.

(8)In the application of this section to Scotland references to the official receiver are to the liquidator or, in a case where a provisional liquidator is appointed, the provisional liquidator.

Definitions used in section 131 1

the company

2 Section 233B does not apply in relation to a contract for the supply of goods or services to a company (“the company”) where any of paragraphs 3 to 11 applies.

Defined in Sch.4ZZA para.2 · see it in the full Act

Cases considering section 131 3

Daniels & Ors v Deville & Ors

[2008] EWHC 1810 (Ch) · 25 July 2008

The court used section 131 and the prescribed statement-of-affairs framework by analogy to support a pooled accounting of the venture vehicles’ net assets and liabilities. (see paras [60], [171](i), [171](xiii))

Aerovías Del Continente Americano SA Avianca & Ors v Versilia Solutions Limited (in Provisional Liquidation)

[2026] EWHC 282 (Ch) · 12 February 2026

The appointment order gave the provisional liquidators the powers of the Official Receiver under section 131 to require a statement of affairs, as part of investigating and protecting company assets. (see para [34])

Jacob & Anor v Equitas Ltd

[2005] EWHC 1440 (Ch) · 4 May 2005

Section 131 was identified as machinery by which a statement of affairs could be required. The court regarded that route as cumbersome, expensive and time-consuming for obtaining a creditor list, and did not adopt it. (see para [10])

What each judgment says about section 131 is in the case-law panel in the full Act.

Amendments and notes

9 notes from legislation.gov.uk

Amendments

  1. F306Words in s. 131(2) omitted (6.4.2010) by virtue of The Legislative Reform (Insolvency) (Miscellaneous Provisions) Order 2010 (S.I. 2010/18), art. 5(4)(a)
  2. F307S. 131(2A) inserted (6.4.2010) by The Legislative Reform (Insolvency) (Miscellaneous Provisions) Order 2010 (S.I. 2010/18), art. 5(4)(b)
  3. F308Words in s. 131(2A) repealed (S.) (1.4.2016 for specified purposes, 6.4.2019 in so far as not already in force) by The Public Services Reform (Insolvency) (Scotland) Order 2016 (S.S.I. 2016/141), arts. 1(3)(4), 10(a) (with arts. 14, 15) (see S.I. 2019/816, reg. 4(a)) commentary suggests repealed
  4. F309Words in s. 131(2A)(a) inserted (S.) (1.4.2016 for specified purposes, 6.4.2019 in so far as not already in force) by The Public Services Reform (Insolvency) (Scotland) Order 2016 (S.S.I. 2016/141), arts. 1(3)(4), 10(b) (with arts. 14, 15) (see S.I. 2019/816, reg. 4(a))
  5. F310Words in s. 131(2A)(b) substituted (S.) (1.4.2016 for specified purposes, 6.4.2019 in so far as not already in force) by The Public Services Reform (Insolvency) (Scotland) Order 2016 (S.S.I. 2016/141), arts. 1(3)(4), 10(c) (with arts. 14, 15) (see S.I. 2019/816, reg. 4(a))

Modifications

  1. C371S. 131 applied (with modifications) (1.12.1994) by S.I. 1994/2421, art. 7(3), Sch. 3 Pt. II para. 7
  2. C372S. 131 applied (with modifications) (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2009 (c. 1), ss. 103, 263(1)(2) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch. para. 2
  3. C373S. 131 applied (with modifications) (6.6.2013) by The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 (S.I. 2013/1388), Pt. 3 reg. 1, Sch. 2 paras. 3, 5 Table (with reg. 24)
  4. C374S. 131 applied (with modifications) (4.1.2024) by S.I. 2021/716, Sch. 1 para. 3 (as amended by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 20)