Companies Act 2014 section 707

Disposal of books and papers of company in winding up

Section 707 sets out the rules governing how a company's seal, books and papers (and those of the liquidator) may be disposed of once the company has been wound up and is about to be dissolved, including minimum retention periods and when the winding up is formally considered concluded.

• In a members' voluntary winding up, the company directs disposal by special resolution; in a court-ordered or creditors' voluntary winding up, the committee of inspection or the creditors direct disposal.
• Regardless of any direction given, the liquidator must retain all seals, books and papers for a minimum of six years after the date of dissolution, after which they may dispose of them as they see fit if no other direction exists.
• A liquidator who fails to comply with these retention and disposal requirements commits a category 4 offence.
• The winding up is not treated as concluded if any funds or assets remain unclaimed or undistributed in the liquidator's hands; it is only concluded once those funds have been distributed or paid into the Companies Liquidation Account.