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Insolvency, Restructuring and Dissolution Act 2018 PART 8 — WINDING UP

s 119–s 216 · 98 sections

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

This part is too large to display on one page. Its 41 sections are listed under the sub-parts above; open a sub-part to read them. Any sections that belong directly to this part are listed below.

Division 1 — Preliminary provisions applicable to winding up

Subdivision (1) — General

Subdivision (2) — Liquidators

Subdivision (3) — Committees of inspection

Subdivision (4) — General powers of Court

Subdivision (1) — Preliminary

s 160Circumstances in which company may be wound up voluntarily s 161Provisional liquidator and commencement of voluntary winding up s 162Effect of voluntary winding up s 163Declaration of solvency

Subdivision (2) — Provisions applicable only to members’ voluntary winding up

s 164Liquidator s 165Duty of liquidator to call creditors’ meeting, and alternative provisions as to annual meetings, in case of insolvency

Subdivision (3) — Provisions applicable only to creditors’ voluntary winding up

s 166Meeting of creditors s 167Liquidator s 168Liquidator’s right to request for statements of concurrence s 169Committee of inspection s 170Property and proceedings

Subdivision (4) — Provisions applicable to every voluntary winding up

s 171Powers of provisional liquidator prior to creditors’ meeting s 172Distribution of property of company s 173Appointment of liquidator s 174Removal of liquidator s 175Review of liquidator’s remuneration s 176Act of liquidator valid, etc.s 177Powers and duties of liquidator s 178Power of liquidator to accept shares, etc., as consideration for sale of property of company s 179Annual meeting of members and creditors s 180Final account and dissolution s 181Application to Court to have questions determined or powers exercised s 182No liquidator appointed or nominated by company s 183Costs s 184Limitation on right to wind up voluntarily s 185Summoning, proof of notice, and quorum of meetings

Subdivision (1) — General

s 186Power to stay or terminate winding up s 187Arrangement when binding on creditors s 188Books to be kept by liquidator, control of Court over liquidators, and delivery of property to liquidator s 189Powers of Official Receiver where no committee of inspection s 190Appeal against decision of liquidator s 191Notice of appointment and address of liquidator s 192Liquidator’s accounts s 193Liquidator to make good defaults s 194Notification that company is in liquidation s 195Books and papers of company and liquidator s 196Investment of surplus funds on general account s 197Unclaimed assets to be paid to Official Receiver s 198Outstanding assets of company wound up on grounds of national security or interest s 199Expenses of winding up where assets insufficient s 200Resolutions passed at adjourned meetings of creditors and contributories s 201Meetings to ascertain wishes of creditors or contributories s 202Special commission for receiving evidence s 203Priority of debts s 204Funding by creditors

Subdivision (2) — Effect on other transactions

s 205Transfer or assignment of company’s property to trustees s 206Restriction of rights of creditor as to enforcement order or attachment s 207Duties of bailiff as to goods taken under or pursuant to enforcement order

Subdivision (3) — Dissolution

s 208Power of Court to declare dissolution of company void s 209Early dissolution of company administered by Official Receiver when Official Receiver is liquidator s 210Early dissolution of company administered by liquidator other than Official Receiver s 211Application for order in early dissolution of company administered by Official Receiver or liquidator s 212Official Receiver to act as representative of defunct company in certain events s 213Outstanding assets of defunct company to vest in Official Receiver s 214Disposal of outstanding interests in property s 215Liability of Official Receiver and Government as to property vested in Official Receiver s 216Accounts and audit

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