The Declaration of Solvency Form is a crucial document in Maltese corporate law, primarily used when a company intends to undergo voluntary winding-up proceedings or certain corporate restructuring activities. This declaration, mandated by the Companies Act (Chapter 386), requires company directors to make a formal statement about the company's financial position after conducting a thorough investigation of its affairs. The document must include comprehensive financial information, including a statement of assets and liabilities, projected cash flows, and details of all creditors. It must be sworn before a Commissioner for Oaths or Notary Public and subsequently filed with the Malta Business Registry. Making a false Declaration of Solvency is a serious offense under Maltese law, carrying significant penalties for the directors involved.
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1. Document Title and Reference: Clear identification of the document as a Declaration of Solvency Form with reference number
2. Company Details: Full legal name of the company, registration number, and registered office address
3. Declarant Information: Names, positions, and contact details of the directors/officers making the declaration
4. Declaration Statement: Formal statement declaring the company's ability to pay its debts in full within the specified period (typically 12 months)
5. Financial Position Summary: Brief overview of the company's current financial status
6. Verification of Full Inquiry: Statement confirming that a full inquiry into the company's affairs has been conducted
7. Signature Block: Space for signatures of declaring directors/officers
8. Witness Attestation: Section for witness (typically a notary or commissioner for oaths) to sign and stamp
1. Interim Financial Position: Additional section detailing any significant changes in financial position since the last annual accounts, used when the declaration date is not close to the last financial year-end
2. Contingent Liabilities Statement: Additional declaration regarding any contingent or prospective liabilities, used when the company has significant off-balance-sheet obligations
3. Group Company Declarations: Additional statements regarding solvency of group companies, used when the declaring company is part of a corporate group
4. Reason for Declaration: Statement explaining why the declaration is being made (e.g., voluntary winding-up, corporate restructuring), used when the declaration is part of a larger corporate action
1. Schedule A - Statement of Assets and Liabilities: Detailed list of company assets and liabilities as at the declaration date
2. Schedule B - List of Creditors: Comprehensive list of all company creditors, including amounts owed and payment terms
3. Schedule C - Projected Cash Flow: 12-month cash flow projection demonstrating ability to pay debts
4. Appendix 1 - Latest Financial Statements: Copy of the company's most recent annual financial statements
5. Appendix 2 - Independent Valuation Reports: Any relevant independent valuations of company assets (if applicable)
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