s 199 Expenses of winding up where assets insufficient
199.—(1) Unless expressly directed to do so by the Official Receiver, a liquidator is not liable to incur any expense in relation to the winding up of a company unless there are sufficient available assets. (2) The Official Receiver may, on the application of a creditor or a contributory, direct a liquidator to incur a particular expense on condition that —(a) the creditor or contributory indemnifies the liquidator in respect of the recovery of the amount expended; and (b) if the Official Receiver so directs, the creditor or contributory gives such security to secure the amount of the indemnity as the Official Receiver thinks reasonable. (3) Where the Official Receiver is the liquidator, the Official Receiver is not liable to incur any expense in relation to the winding up of a company unless there are sufficient available assets. (4) Where the Official Receiver is the liquidator, the Official Receiver may, on the application of a creditor or a contributory, incur a particular expense on the condition that —(a) the creditor or contributory indemnifies the Official Receiver in respect of the recovery of the amount expended; and (b) if the Official Receiver so directs, the creditor or contributory gives such security to secure the amount of the indemnity as the Official Receiver thinks reasonable.