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485.   Disposal of books and papers of companies

Revised Laws of Saint Lucia (2022)

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485.   Disposal of books and papers of companies

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    (1)   When a company has been wound up and is about to be dissolved, the books and papers of the company and of the liquidators may be disposed of as follows, namely—

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      (a)     in the case of a winding-up by the court in such manner as the court directs;

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      (b)     in the case of a members' voluntary winding-up, in such way as a general meeting of the company by ordinary resolution directs, and in the case of a creditors' voluntary winding-up, in such manner as the committee of inspection or, if there is no such committee, as a meeting of the creditors of the company, by resolution directs.

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    (2)   After 5 years from the dissolution of the company no responsibility rests on the company, the liquidators or any person to whom the custody of the books and papers has been committed, by reason of any book or paper not being forthcoming to any person claiming to be interested therein.

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    (3)   Provision may be made by rules made under section 494 for enabling the court to prevent, for such period (not exceeding 5 years from the dissolution of the company) as the court thinks proper, the destruction of the books and papers of a company which has been wound up, and for enabling any creditor or contributory of the company to make representations to the court.

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    (4)   If any person acts in contravention of any rules made under section 494 for the purposes of this section or of any direction of the court thereunder, he or she commits an offence.

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